B.o.a.t.

beernutz

beernutz

Member
Aug 16, 2009
427
Mobile, AL
Boat Info
2000 190 Signature BR
Engines
5.0L EFI 240 hp Mercruiser
Last week we passed the two year mark of boat ownership. Ownership has generally been great fun and one of the best family purchases we've made in 23 years. Our boat had 233 hours on it when purchased and now has 303, spread out over 39 different days. I'm kind of a nitty record-keeper (my wife might use a different descriptor) so I've kept track of all boat expenses and I broke them down as follows with significant expenses highlighted:

$ 540.31 Maintenance including new $120 boat cover
$ 495.31 Water toys - $250 giant float and $180 kneeboard
$ 974.94 Trailer expenses - arg, what HAVEN'T I replaced? (all lights, 3 new tires plus new spare and spare mount, new crossbar, U-boats, bunk supports, transom straps, wench strap, trailer jack)
$ 2,509.08 Boat add ons and mods including $1,500 for swimplatform, $315 for new SS prop, and $180 for Smart Tabs
$ 1,121.87 gasoline (for 70 engine hours = $16/hr)
$ 469.00 Progressive insurance 2 years
$ 740.67 two MarineMax repair/modification jobs and including adding 2nd battery, switch, combiner

FWIW, that's $6,800 in expenses for an $8,600 boat.

I was just reviewing the numbers and thought I'd post them for no particular reason unless it would be to give prospective owners an idea of what kind of addiction they're in for.
 
Last edited:
beernutz said:
U-boats... wench strap,
Click to expand...

Yeah, I hate it when I have to replace U-boats. They're expensive and them damn Germans are pretty touchy about them. I don't, however, mind replacing the straps I use to tie up the wenches. That means we used them a lot.

Just kidding, of course. I used to keep track of my expenses like you do, but as I moved up in boat size and the expenses moved up accordingly, I decided that I didn't want to know. And I ESPECIALLY didn't want the Admiral to know.

Just Saying..........
 
Gofirstclass said:
Yeah, I hate it when I have to replace U-boats. They're expensive and them damn Germans are pretty touchy about them. I don't, however, mind replacing the straps I use to tie up the wenches. That means we used them a lot.
Click to expand...

OK, that's hilarious....... I just had to explain why I was laughing to my wife....

As for boat expenses, I'd argue you should use a different accounting method. Full disclosure....... I'm not a financial advisor or expert in any way..... However, I've been successful in justifying all kinds of marine related things for myself and others that were in no way nessescary........

It's dangerous to track these things.... but if you do- Everything you listed with the exception of the fuel, insurance, and maintenance should be categorized as an "upgrade", and insurance and the boat cover would be an "investment protection"-

Therefore, initial declared boat value-

$8,600
$4,790 upgrades (all items you mentioned minus fuel, insurance, and maintenance)
New declared value: $13,390

Boat cover and insurance would be categorized as "Investment protection": $589 or $294/yr...... a reasonable expense for a $13k asset......

Personally, everything I spend on the boat I categorize as "investment protection" (really maintenance) or "safety item" (things that you want but can't be justified in any other way). It is really crazy how all this stuff adds up though......
Click to expand...
 
Gofirstclass said:
Yeah, I hate it when I have to replace U-boats. They're expensive and them damn Germans are pretty touchy about them. I don't, however, mind replacing the straps I use to tie up the wenches. That means we used them a lot.

Just kidding, of course. I used to keep track of my expenses like you do, but as I moved up in boat size and the expenses moved up accordingly, I decided that I didn't want to know. And I ESPECIALLY didn't want the Admiral to know.

Just Saying..........
Click to expand...
LOL, good catch.

And I don't mind knowing the amount I've spent. I have a formula which calculates total dollars spent per engine hour and as long as that number goes down, I'm happy. Right now its $229/engine hour and the only way it can go down is to use the boat, even if I have to pay out money to make that happen. Frankly I'm amazed the number is that low after only two years.
 
Torque said:
OK, that's hilarious....... I just had to explain why I was laughing to my wife....

As for boat expenses, I'd argue you should use a different accounting method. Full disclosure....... I'm not a financial advisor or expert in any way..... However, I've been successful in justifying all kinds of marine related things for myself and others that were in no way nessescary........

It's dangerous to track these things.... but if you do- Everything you listed with the exception of the fuel, insurance, and maintenance should be categorized as an "upgrade", and insurance and the boat cover would be an "investment protection"-

Therefore, initial declared boat value-

$8,600
$4,790 upgrades (all items you mentioned minus fuel, insurance, and maintenance)
New declared value: $13,390

Boat cover and insurance would be categorized as "Investment protection": $589 or $294/yr...... a reasonable expense for a $13k asset......

Personally, everything I spend on the boat I categorize as "investment protection" (really maintenance) or "safety item" (things that you want but can't be justified in any other way). It is really crazy how all this stuff adds up though......
Click to expand...

That's an interesting long-view perspective Torque, I will keep it in mind now when I review the numbers. Like I replied to Gofirstclass, the money isn't that big of an issue but more of a nuisance at times.
Click to expand...
 
I hate to think about the expense, We use our boat every weekend that the weather permits. Lets see, Payment, Dry Stack Storage, Fuel, Insurance, Maint, Ice, Food, Drinks, Water toys, cleaning supplies, Etc, Etc,

Oh yea and a big truck to pull the darn thing

Damn why do I have a boat?

Time on the water with friends and family = Priceless.

This new Sea Ray is our 5th boat in 16 years so I guess I am hooked...
 
B-Break
O-out
A-another
T-thousand
 
I spend $750/mo even if I never leave the dock. Add in fuel costs, maint, etc....I spend about $200/hr to run the boat.

BUT, as a young single male Ill tell you....when the boat is full of women $200/hr is cheap. If it floats flies or....what was the last one....its cheaper to rent.
 
To take a phrase from a friend.

B.O.A.T. + Best Of All Times
 
Heh, Mike's acronym is the one I was thinking of when I wrote the subject of the thread but I really like the other ones, some of which I'd not heard before.

Here's another I found: Buoyancy Operated Aquatic Transport
 
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