How much $, is too much $, to put into a small tinny?

TinBoats.net

Help Support TinBoats.net:

Tin Man

Well-known member
Joined
Oct 1, 2011
Messages
220
Reaction score
38
Location
Southern California
LOCATION
SoCal
Was considering a new boat but the price is just too much for me to justify. I'm also considering a used boat.

I have a nice small tinny (see sig) and it can do all I need it to do on all the local lakes near me, where it will get used 99% of the time. I may be experiencing the common two foot itis and feel I need more room, need a console, need storage, something safer for my son with Autism, etc. The reason I went with a simple tiller model that I have was for the simplicity (easy to tow, launch, maintain, etc..... now my mind wanders to all these other ideas!

How do you determine that you've reached your max spending on a boat before you feel that you've invested too much and you can not recoup what what you invested when it comes time to sell? Perhaps you feel you should just sell and move to a boat that already has the things/set up you want to add to your current....or you feel you're trying to make/mod your boat into something that it isn't?

Ex. Up to this point, I have invested $2K in this boat (tires, new FF, trailer upgrades, motor service, Yamaha fuel tank and Yamaha hose, external fuel filter, etc). Now I would like to add a nice TM at $1500! This may put me in a situation where I can not recoup my investment if/when I sell.

Thoughts?
 

KMixson

Well-known member
TinBoats Supporter
Joined
Apr 25, 2008
Messages
2,299
Reaction score
8
Location
North Charleston S.C.
Myself, I am a research nut when it comes to buying a new boat, car, appliance, tool or anything for that matter when the price is over about $50.00. I have a budget that I stick to. If the item has extra features that some don't, I may pay a little extra for that specific item if I can use that feature. You have to look at the features and decide if it is worth the money for that feature. How often will you use that feature or how beneficial is it for you to have? No need to pay extra for it and not use it.

Now, as for recouping your money if or when you sell the boat. Very rarely are you going to recoup your money when selling a boat. As they say, "A boat is a hole in the water you pour your money into." You may get more money for the boat that has extra items and features, but don't expect to make a profit off of it.
 

MrGiggles

Well-known member
Joined
Jul 12, 2017
Messages
799
Reaction score
62
Location
Springfield, MO
Boats are generally never worth more than the sum of their parts.

The way I view electronics, they can be removed and added to the next boat, or sold separately, since you'll never get back what you spent on them on a package deal.

The boat itself will not depreciate much, if at all if it was already used when you bought it.
 

LDUBS

Well-known member
TinBoats Supporter
Joined
Aug 14, 2016
Messages
4,444
Reaction score
259
Location
Clayton California
I don't look at the boat as an investment that is going to give me any kind of financial return. Sure it is an asset and will have some market based residual value when I eventually sell it, but that isn't why I have it. Like MrGiggles says, accessories like electronics and TMs make the boat more attractive to potential buyers, but nowhere near their cost.

How to know when I'm putting too much money into the boat is a great question. KMixon's comments about value are important. Not monetary value. In this case value, IMO, is defined by enjoyment, appreciation and personal utility.

When it comes to upgrades, how much someone likes their current boat has to be an important factor. Perhaps even more important is the objective. Will they be happy with upgrades or will they be putting a lot of money into a boat trying to make it into something it will never be. If the latter, that is when moving to a different boat should be considered.

Of course on top of all of this is staying within one's budget. Something most of us have to deal with.
 

eeshaw

Well-known member
Joined
Oct 5, 2019
Messages
355
Reaction score
24
I try to make sure that all the peripherals are something I can use on my next boat, or for that matter share between boats. Batteries, trolling motor and electronics are some of them. I also try to buy a boat that I know can hold its value if possible. Buying the best possible engine setup you can afford will help hold value also. If I can make things for my boat to make them more functional, that's something I try to do also.
 

DaleH

Well-known member
TinBoats Supporter
Joined
Dec 12, 2014
Messages
3,380
Reaction score
119
Location
Eastern Mass
1st … decide how long YOU will keep it. I always judge by … “What’s the value of what I can sell it for later versus what I want to put into it now?”

It’s one thing if I’m gonna use it for 5 to 10 years though … then I would just rig it as I want it!

Remember that boats are like women … in the long run you will never get out of them what you put into them … Wait … what?
 

airshot

Well-known member
Joined
Feb 18, 2009
Messages
352
Reaction score
167
Never consider a boat as an investment, probably worse than a xar when it comes to lost value !!! Look at it strickly as personal entertainment... Have owned boats since I was 12 years old, now 72, never made a nickle selling a boat as far as profit goes, but I can say I have enjoyed each one immensely for the time I owned it !!! When rebuilding a tinney....are you getting close to replacement cost?? If not then what they hey, do whatever you want if you can afford it. Things change as time goes on, when my kids were small we had a family boat for fun activities like tubing and just joy riding, fishing was secondary. Then the kids grew up and wecwent to a small cuddy for more fishing time on big water, recession hit us hard, so downsized to small skiff just for fishing, very cheap to operate and kept food on the table. Things got better then moved back into a bigger boat for longer excursions. Retired and mostly go alone now so downsized to a 16' tin SC which I can handle by myself. So...bottom line is...do what you want and need to be happy now as we never know what tomorrow will bring or what changes will take place !! A boat is a hobby not an investment !!
 

wmk0002

Well-known member
Joined
Apr 17, 2014
Messages
952
Reaction score
4
Location
North Alabama
I take everything that bolts/clamps to the hull out of the equation, even the outboard. In the event I needed to sell either of my jon boats, I would absolutely part them out vs unloading it as package deal unless I was in dire financial need. and even then I would still try to sell the hull, motor, and electronics as 3 separate lots.

I also don' view it as an investment like others mentioned. Electronics and trolling motors get outdated quickly with the next new thing coming out every couple of years now.

So basically when I am evaluating spending money on my boats I look at that single purchase in a vacuum. If its a motor, I estimate what it's stand alone value will be down the road. same for electronics. If it's a modification to the hull or trailer such as adding a permanent deck extension or getting some custom welding done to it then I decide if its worth it assuming the hull is sold by itself down the road (permanent mods rarely add any tangible market value to the hull but does depend on the buyer). The good news is that small tins are so customizable and typically have smaller, clamp-on outboards so you can almost always transfer most of your stuff to a new boat. I think in the long run you will never break even overall if you sell, however, you definitely don't have the same loss and depreciation as a big glass boat.
 

mbullen

Member
Joined
Apr 24, 2019
Messages
13
Reaction score
12
I don't even understand this question? lol
Break Out Another Thousand.
Hole in the water in which you throw money.
How do you know if it's a good deal? There's a sail on it.
Etcetera, so forth, and so on.
 

len1234

New member
Joined
May 25, 2021
Messages
1
Reaction score
1
Location
Orlando, FL
Time spent on water, with family, friends or yourself is priceless. Every single boat I have owned I have spent more on than they are worth, solely to enhance my enjoyment. To make matters worse, I usually give someone great deal when I sell, kind of a pass it on thing. :)

Life is short.
 

Tin Man

Well-known member
Joined
Oct 1, 2011
Messages
220
Reaction score
38
Location
Southern California
LOCATION
SoCal
Well, I guess it's the frugalness in me!

Now that I'm retired, one part of me believes I should allow myself the things I want and can afford 😁

The other part of me is much more frugal! o_O

Thanks for the insight and perspectives!
 
Joined
Jan 2, 2023
Messages
27
Reaction score
24
LOCATION
Goleta, California
For me, it's about the time on the water. There are a lot of used boats out there, why buy a new one. Especially with metal boats, they're easy to find without getting burned if you have your eyes open. I really just want to know that I'll get home ok. I'm on the Cali coast, no fresh water nearby so that is important. So, good newer engine, boat that makes you happy (of any age), electronics are only important if you're a tweak in that regard. Don't really need to go 40 knots, so a reasonable power engine but not to excess. Enjoy the process partner. Thanks for caring about your son.
 

LDUBS

Well-known member
TinBoats Supporter
Joined
Aug 14, 2016
Messages
4,444
Reaction score
259
Location
Clayton California
Talking about used boats deals, according to our county assessor, my boat is worth 24% more than I paid for it in 2018, hence I had to pay more personal property tax. I disputed it and they reduced the assessed value. I will get some refund on the tax, but the assessed taxable value is still more than I paid for the boat four years ago. They say they use NADA.
 

cyclops2

Well-known member
Joined
Nov 17, 2022
Messages
129
Reaction score
49
LOCATION
frenchtown N J
NADA is the lower price a dealer pays for anything !!
 

thill

Well-known member
Joined
Feb 25, 2011
Messages
490
Reaction score
125
Location
Virginia, USA
Boats are generally never worth more than the sum of their parts.

The way I view electronics, they can be removed and added to the next boat, or sold separately, since you'll never get back what you spent on them on a package deal.

The boat itself will not depreciate much, if at all if it was already used when you bought it.
^^^This^^^

Buy the stuff that you will use, and take it to the next boat if you upgrade.

But that being said, start scanning for boats in your area that may fit your needs better. Sometimes, if your rig is clean and nice, you can sell it for more than what someone else is asking for the boat you want. I have done this many times. A friend had a nice, clean, but old classic Mako 21. It was big and very heavy, but wow, was it seaworthy. He sold it for $17k and traded up to a newer 24' bay boat for $12k. Everyone was happy in the end, especially him.

So, either rig your boat the way you want, or look for a 2-foot bigger boat. There may be little difference in the price. If you go that route, I strongly suggest you look and buy NOW, as spring is coming quickly, and prices will go up soon. If you can afford it, buy while the price is good, and then list yours and be patient until someone offers you what you can take.
 
Top