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Old 21 March 2012, 06:01   #1
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Costs of running a Rib

This might be of interest to viewers. Having kept all my bills for a year the following are costs of running a Rib.

Rib - 7.5M Cobra
Engine - Yamaha 200HP 2 Stroke
Engine Hours Run in 1 year - Approximately 200 hours

Basic cost = Fuel plus Oil plus engine service = 5,541.00 or approximately 28.00 per hour of engine use
Cost plus dry stack = 8,971.00 or approximately 49.00 per hour

Rather a high cost past time but for 28.00 or even 49.00 per hour of fun I can't think there is much to beat it that's legal.

I would be interested in seeing if anyone else has recorded the costs over a year period.
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Old 21 March 2012, 06:35   #2
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How much does it cost to charter per hour? Or to be part of an arrive and drive package for so many hours per season?

To compare, you need to include the depreciation and insurance too. Factor that in on a boat worth say 45k, halving in value every 3 years, will lose v roughly 7500 per year.

7500 divided by 200 = 37.50

37.50 plus 49 = 86.50

As many have said, if you start doing the sums and are concerned what the result may be, either stop your calculation or sell the rib.

I think we only do about 50 hours at most. No dry stack costs, but I don't want to even start considering the cost per hour. Memories are priceless.
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Old 21 March 2012, 06:54   #3
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One point to remember is the fun had & time spent just anchored up in a bay or off the beach just having fun being out on the boat not just engine hours as you could have a whole day out on the water but only run the engine for less than an hour!
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Old 21 March 2012, 07:21   #4
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I purcahased a new rib approximatly 4 years ago Valiant Dr 490 with engine trailer, I modified and fitted out the boat myself and have estimated that the boat and bits and bobs cost 20k euro.

Due to the arrival of kids I have only managed to do approx 60 hrs on the boat. I suspect that the boat is worth 10 k at best.
Thus deperation is 166 euro/hr
Fuel 20 euro per Hr
Insurance circa 250 euro
Servicing of engine circa 250 euro
Thus the boat has approximatly cost 12,250 euro over 3/4 years. But I do have to say it did save my sanity when the first child was born. I suspect that the boat has paid for its self in other ways

TSM
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Old 21 March 2012, 07:28   #5
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That's far too much information, much better to live in blissful ignorance and enjoy the summer.
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Old 21 March 2012, 07:46   #6
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I'm sure there are many examples but I once owned an ex RAF jet trainer, cost me 63000, I did 96 hours flying in the year and then my ex wife nicked it - that's around 650 per hour. Not adding fuel/hangarage and service costs as other people "contributed" to fly with me which covered those direct costs. Worth every penny....... Try to forget the costs and enjoy, that's what life's about!
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Old 21 March 2012, 08:00   #7
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Big mistake, trying to put a cost on your hour on the water!

As one currently without a rib, I can honestly say that the feeling you get as the boat floats off the trailer and you turn her head to sea is priceless. When you're looking at the bills - remember the wind on your face, your mitts on the throttles and the rapidly vanishing coastline at your back.

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Old 21 March 2012, 08:04   #8
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may as well spend it before the wife nicks it!
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Old 21 March 2012, 08:33   #9
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Paul - THAT's the punchline I forgot to end with!
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Old 21 March 2012, 08:43   #10
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Quote:
Originally Posted by willk View Post
remember the wind on your face, your mitts on the throttles and the rapidly vanishing coastline at your back.
And when the new coastline starts to rapidly appear ahead - happy days
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