I'll say that again...
Everyone is on a budget.
That guy in the beat up old Morgan Out Island, that attractive couple on the million-dollar condomaran, and the owner of the 180-foot megayacht coming through the Simpson Bay bridge, all share a common link that they're all on a budget.
Want to know something interesting? I'd bet serious money that each of those examples is not just on a budget but they are all over-extended and spending more than is sustainable with their current financial situation.
It's just the nature of the beast in that we all want that little bit more than we can afford.
Don't think so?
Let's take a look at that guy on the Morgan 41 Out Island. He's a single guy on a finite income with some savings, a moderate retirement income and social security. He chose the 41-footer because he felt he needed the space but sometimes regrets that he did not buy a 33-footer for a lot less as the repairs and fitting out cost him a considerable chunk of his savings. He knows he should really do a haulout and antifoul but the cost of most boatyards are now beyond what he can afford. As an aside, most of the extra space that was so important has never actually been used.
The attractive couple on the condomaran made the decision that they really deserved the best of everything. Their choice of boat was akin to branding and would show everyone that they were well off and a leader of trends. Admittedly they were surprised at the costs involved turning their already expensive cat into a work of art and fashion statement. Luckily, they found that they could do mundane tasks on their boat and film them, setting up an income stream that both helped pay their bills and scratched their desire to be the center of attention. The problem came when they found that no one was really interested in watching them cruise but their main appeal was that people enjoyed watching them spend money on expensive gear/improvements. While it still brings in money, they are now dependent on companies giving them gear to install and begging for funds from followers. Their current plans are to buy an even bigger boat to refit, along with another boob job to better illustrate the best way to outfit a condomaran.
As far as the owner of the megayacht goes, he needs to charter his yacht more than he uses it just to cover the upkeep. A situation he feels is beneath him. Now that his bank accounts have been frozen and he's had to sell a Picasso drawing to fill up on fuel so he can get his boat to a country without extradition treaties, his boat is slipping into stealth mode to avoid being locked to a dock.
Meanwhile, there are those folks just about everywhere with affordable boats living within their means quite successfully because they were honest about what they could afford and worked up a budget that reflected it.
I am hearing you on this. The problem is that the hero's of yesterday who sailed on smaller yachts are just not so visible today. So the thought of having a smaller sailboat with smaller costs all round just does not cross the minds of the new wave of sailors we are seeing on the water.
ReplyDeleteI also think a lot of people are looking at cruising all wrong. Instead of seeing it as a chapter in their life they are looking at it like this is going to be my new life forever. So they want the ridiculous size boat with all the space and toys that they have seen every other chump buy without any thought than it is a "Must Have"
Having lived on two 25 foot yachts, one with the wife and one with a child you just learn to make it work. We knew it was not forever so we enjoyed the time on the water.
Cheers