Hire Harry's boat

[dinny_g]

Cinzano...

[Maurice]

I'm not quite sure how that's overthinking it! We're talking about chartering Harry's boat and I just think its crap value for money. Prompted me to have a flick through my old photos and reminisce though.

This was the firms junk and the wife of the boat "boy" (top marks for patronising ex-pat terminology give they were in their 60s), mei mei, picking us up from Po Toi:



Sailing back:

Nice. Was out a few years ago and ended up on a US firm’s junk. It had a speedboat deployed off the back of it for immediate deployment whenever you fancied upping the ante a little.



Chartering is definitely the key up to a point imo. We go away once or twice a year sailing around the west coast of Scotland. A couple of hundred quid each for the weekend in hire, mooring and fuel costs. The scenery is outstanding, it’s incredibly relaxing and you can get absolutely battered with impunity.

[nuttinnew]

and cheese on sticks...

Fizz and plonk...

[Rich B]

Agree with this, although your views weren't quite as YOLO when I bought that car, IIRC. Along with numerous others, you were quite scathing. Clearly the two purchases are different but in terms of 'getting enjoyment out of it' I was chuffed with the car whilst I had it, then later came to sell it for a change, the way anybody would. So why is spending 3k for a day on somebody else's boat deemed acceptable?

PS - To my mind it is acceptable, if that's what you want to spend money on. Nobody's business what anybody spends money on. It's the about-face in perspective that I am questioning.

Where this falls down is that we're talking about concepts:

- Ian is arguing the concept that renting a yacht isn't a waste of money; he isn't stating whether this particular deal is good value
- No one is arguing that the concept of buying a BMW 520d in BRILLIANTLYFUCKED BLAU is a waste of money; they did argue that that particular deal wasn't good VFM.

You’re chooosing to split the argument, I’m not. This isn’t a discussion about VFM, the point was about people spending money how they see fit. I saw fit to spend my money a certain way, which Ian and a few others didn’t agree with. 3k for a day on a boat would be madness to some, ok to others if that’s how they want to spend their cash.

except when you could have had the exact same time on the boat for half the price if you’d actually thought about how long you wanted it before entering into a ludicrous deal.

[tim]

What about if someone throws stones near the expensive boat you've hired? We should talk about that too.

[mik]

Are they people in glass houses Tim?

[nuttinnew]

Let he who is without gin cast the first stone.

[Richard]

GG, waste of cash? Really? If all you had was £300k maybe, but I think Harry’s garage shows he has a bit more to spend. People can spend their own money however they see fit and, as long as they get enjoyment out of it, I can’t see how it’s a waste of cash. I guess you either enjoy boating or you don’t.

I wasn't talking about Harry though - he has the wherewithal to buy it and as you've quite rightly said he can get recoup his maintainance and moorage in a month renting out and as we know, boats depreciate remarkably slowly.

My comments were aimed at spending €3,000 on renting one for a day. I can see the appeal in your scenario of sailing it round the island and sleeping overnight in it to sample several places in short succession - but then you're not talking about €3,000 as that is one day's hire. Say you then charter it for three days, that's then the best part of €10k + VAT + ARA. I can think of many better ways to spend that cash. Possibly if you're less misanthropic than me you could shack up with two other couples making it only €1,000 a night per couple but even a 61 footer is going to feel quite claustrophobic with 6 on board IMO.

Don't get me wrong - I don't dislike boats. I had a fantastic time on junks in Hong Kong when I lived there. Travelling out to the islands in the South China sea to eat fresh seafood and sailing back home under the stars... but they were owned by the law firm I worked for then and therefore totally free

TL;DR - I get buying and hospitality. Private rental (particularly with elevated prices on the shores of the Med) not so much.

This is why I never pay the nightly rate for hotels, I just PAY CASH and buy the whole hotel

Why rent one room for a night or two!? Utter madness

[Richard]

Some things are financially stupid to hire and you're better off buying them or not bothering. There you go.

indeed - if you fancy a couple of weeks on a yacht, you’re far better to buy and staff a yacht for many hundreds of thousands/millions then just renting one for a few weeks.

I apply the same logic to everything; I’m off on holiday again soon, but rather than waste my money on a hotel room I’ve simply bought a hotel. It’s the financially clever thing to do.

Damn. I see you’ve made the same joke as me...

[GG.]

If you can find a hotel (or holiday let) you can buy outright for the same price as daily rack room rate x 5.5 months (rough maths for the boat based on a value of say approx €500,000 and rental of c.€3,000 per day) then you should, indeed, probably finance purchasing the hotel as clearly it offers a return on investment other hoteliers could only dream of.

[mik]

So I think we have confirmed:
- some people should hire some things and buy other things
- other people should buy some things and hire other things
- everybody is wrong
- except those who are right
- Richards tell the same jokes

[JLv3.0]

/ thread

[GG.]

Personally I think we should continue. I for one am interested in Richard & Richard Investment Capital House ("RICH")'s plan to to put an offer in on a Travelodge for £16,000 or buy one for £100m and set a room rate of £375,000... or something. Clearly the PE world has much to learn.

[ShockDiamonds]

Where this falls down is that we're talking about concepts:

- Ian is arguing the concept that renting a yacht isn't a waste of money; he isn't stating whether this particular deal is good value
- No one is arguing that the concept of buying a BMW 520d in BRILLIANTLYFUCKED BLAU is a waste of money; they did argue that that particular deal wasn't good VFM.

You’re chooosing to split the argument, I’m not. This isn’t a discussion about VFM, the point was about people spending money how they see fit. I saw fit to spend my money a certain way, which Ian and a few others didn’t agree with. 3k for a day on a boat would be madness to some, ok to others if that’s how they want to spend their cash.

except when you could have had the exact same time on the boat for half the price if you’d actually thought about how long you wanted it before entering into a ludicrous deal.

Bottom line is the same. One can spend money however they see fit, and others will either smile or smirk. Do so consistently at least.

[Mito Man]

So you’re buying a 520d again?

[JLv3.0]

#520d

#YOLO

#LivingTheDream

#MyMoneyMyDecisions

etc

[Rich B]

You’re chooosing to split the argument, I’m not. This isn’t a discussion about VFM, the point was about people spending money how they see fit. I saw fit to spend my money a certain way, which Ian and a few others didn’t agree with. 3k for a day on a boat would be madness to some, ok to others if that’s how they want to spend their cash.

except when you could have had the exact same time on the boat for half the price if you’d actually thought about how long you wanted it before entering into a ludicrous deal.

Bottom line is the same. One can spend money however they see fit, and others will either smile or smirk. Do so consistently at least.

The bottom line is you paid £16k to rent a 520d for 16 months!

[JLv3.0]

You wouldn't understand, Rich.

[Rich B]

You wouldn't understand, Rich.

exactly, it’s his money and he was happy to give £9k of an inheritance to BMW to give a car back because he chose an awful method to buy and keep it a car for a short time. I just wouldn’t get it.

[JLv3.0]

It's essentially exactly the same as hiring a really nice yacht. Or something.