As I have mentioned from time to time, different boat brands have very different resale values.
I’ve personally witnessed folks who think they got a great deal on a boat from a bargain priced builder only to discover that it’s lost most of its resale value years later when they tried to sell it. Or worse yet, there are simply no buyers.
And at the high end, Hinckley and Hunts have such a premium price tag, that they may also have a tough time holding their initial sale price in resale – although they are always in demand.
Then there’s the sweet spot in the middle. Although outboards clearly deprecate, Grady Whites and Boston Whalers generally have great resale value.
And as I guy who bought and sold two Back Coves, I can attest to their strong resale value. In both cases I resold them for nearly 100% of what I paid for the original boat new (minus electronics and commissioning).
But what about Hydra Sports?
When I bought the Mean Kitty in 2008, I wasn’t really thinking about resale value. I was selling my six year old Boston Whaler for 36% of what I paid for it and that was fine by me.
I bought Mean Kitty from Eagle Marine for $146,000. At the time, Mike and Heidi (Eagle’s owners) were selling Hydra Sports as fast as they could get them.
Then in 2009, Hydra Sports filed bankruptcy. At first it looked like the bankruptcy would hurt my resale value, but in 2010 Mastercraft bought them and committed to moving them up to premium boat brand.
Eagle Marine is a “blue collar“ boat dealer and the old Hydra Sports brand was already pushing the high end. Once Mastercraft entered the picture, they dropped them.
The Sale of Mean Kitty
In 2014 we ordered our first Back Cove – Tenacity, 37 Down East. Eagle listed Mean Kitty for $95,000 on Yacht World, which worked out to 65% of her original purchase price. I was delighted.
She got an offer right away, but apparently there was another 33’ Hydra Sport CC for sale at South Shore Drydock and they badmouthed the Kitty to make their sale and sank my deal.
With a local dealer besmirching my boat, we never saw another offer and eventually I moved on and sold her myself for $79,000 CASH on thehulltruth.com. This worked out to 54% resale value, which was excellent for a 6 year old outboard.
A young man named Jared in Plymouth bought her and that was that – or so I thought!
Jared loved the Kitty and took very good care of her. In late 2019 he wrote me to telling me he was selling her and moving on to more of a Down East style boat (he had already started following My Buzzards Bay.
He sent me a few photos and she really looked nice.
In April, Mean Kitty’s new owner Mike wrote me to tell me he had just finished some restoration work on her on. He too sent me photos…
Clearly Mike loves the Kitty as much as Jared and I did.
The Life of the ETEC’s
I couldn’t help but notice that the boat is still sporting the 2008 ETEC’s which are now 13 years old. I asked Mike how they were behaving and he said “Great, they have about 500 hours on them.”
This is truly incredible. They were among the first ETEC 300’s ever made. In fact Mean Kitty was the test boat for Evinrude’s speed trial for the 300’s on a Hydra Sports 3300CC…
I never saw 51 MPH, but I did touch 49 once.
It’s very impressive to see this boat still running strong after 13 years and clearly Hydra Sports are a brand their owners love with great resale value.
POSTSCRIPT: HCB Yachts
In January of 2018, Hydra Sports changed their name to HCB Yachts. They are still building big center consoles, but even bigger than ever.
Today their line starts with a 39 footer and they just announced The Estrella – a 65’ Center Console with five outboards…