It takes a stretch of the imagination to make a link between sailing boats and sound investment options but, believe it or not, a relationship does exist. In fact, if you have a few thousand pounds burning a hole in your pocket and fancy developing your sailing skills, putting money into a seafaring craft could be just the investment choice for you.
The strange but simple truth is that many second-hand pleasure boats out there are not subject to the severe depreciation that affects comparable assets such as cars or motorcycles.
This means that a canny sailor can theoretically buy a boat, enjoy several years of skimming the ocean waves and then sell the same boat on without losing a penny. That's provided of course that he or she chooses the right craft to begin with.
A chat with the experts suggests that the ideal investment craft is a mid-market family cruiser, probably built in the late 1970s.
According to Mr Paddy Boyd, secretary general of the Irish Sailing Association, it's relatively normal for a cruiser, which cost approximately £16,000 (#20,316 ) 30 years ago, to change hands today for much the same amount or perhaps even more.
The main reason for this, says Mr Boyd, is fibreglass. Boats reinforced with this durable material do not deteriorate quickly and thus tend to retain their value if maintained with care.
Cruisers can be liked to "floating caravans", according to Mr Boyd. They usually range between 20- and 40-feet long and contain cabin accommodation for around five people. A reliable cruiser should be sufficiently robust to sail to other countries.
The mid-market space occupied by cruisers has seen "huge growth" in recent years, says Mr Boyd, who attributes the boom largely to "new wealth".
Riding the back of this growth is Mr Ross O'Leary of Yachtfinder.ie, an online boat brokerage. Mr O'Leary says that a 30-foot yacht dating from 1990 could change hands today for around £30,000 and kept for another 10 years without significant loss.
"Overall, you might lose a few hundred but in what you get back for it, it's much better than a car. There's not a lot of dead money in boats," he says.
But before you rush out to buy your sailor suit, remember that the non-depreciation phenomenon does not apply to all boats. Powerboats are a definite non-starter in this sense, since so much of the boat's value is held in its engine. Seafaring engines, like their landlubber cousins do not hold their value. Brand new boats of any type will also lose a significant percentage of their value in the first years of their life.
Several peripheral costs also apply to sailing, such as mooring charges, insurance and sailing club membership, but these will vary according to location and the size of the craft in question. Parking fees in Dun Laoghaire could cost up to £2,000 per year, for example, but swing moorings are cheaper and other parts of the country will offer more reasonable options.
An investment in boating is about more than money, however, says Mr O'Leary. "You're investing in your own quality of life," he says. "The enjoyment you get in return for your pound note is at a good ratio."
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