Page 1 of 1

Buying a boat 3rd hand

Posted: Thu May 03, 2018 8:21 am
by SeaDog
If you buy a boat through a broker, they act as agent for the owner. Fairly simple, they take a fee and you accept that they are selling on behalf of the owner at there request. Money changes hands job done....

Buy a boat from an owner direct, you just deal with the owner. Money changes hand and they give you all the paperwork etc....

If you are looking at buying a boat from a bloke who's selling it for the owner, you don't see or meet the owner how do you know that he is legally allowed to sell that boat? Whats to say he (or she) isn't fraudulently selling something that isn't his to sell and has no title to? Where do you, the buyer stand? Out of pocket and out of boat?

Might sound a daft question to ask but its something thats going around in my head....

Re: Buying a boat 3rd hand

Posted: Thu May 03, 2018 11:32 pm
by mikebuggy
Unless its a very small boat (dinghy etc), all boats are (or are meant to be) sold with a formal 'Bill of Sale'. This requires signatures and IDs from both parties in the presence of independent witnesses (also with Ids, sigs etc). This is a requirement for a number of things like VAT status, proof of ownership, ship's papers, formal UK Registration etc. Some insurance companies also require it. There are standard Bill of Sale forms available from brokers or on-line.

Re: Buying a boat 3rd hand

Posted: Fri May 04, 2018 6:10 am
by Hardover
If someone is setting out to deliberately defraud then a formal "Bill of Sale" will be part and parcel of that fraud. It really is a case of "Caveat Emptor". Diligent research using the net usually throws up a surprising amount of information on a particular yacht/owner as does asking questions of the marina/harbour master or neighbouring vessels. Many yachts at the lower value end of the spectrum, especially those advertised for sale on online auction sites, Gumtree etc usually change hands without any formal documentation. A surprising number are sold "sight unseen".
There is an ongoing scam on Ebay where every now and then a high end yacht is advertised for sale at a knock down price. No contact number just an email address. They're simply using images taken from a brokers site and ask for a deposit to secure the yacht due to the "high level of interest". People must be gullible enough to do that as the ads keep on appearing. A cursory search on the net shows up Steve or sometimes Pete, both using are well known. They've been using the same scam to "sell" high value cars.
I have reported them to Ebay but the ads keep on coming.

Re: Buying a boat 3rd hand

Posted: Sat May 12, 2018 10:38 am
by Tony Wardale
I have recently sold my boat using the RYA forms (You have to be a member otherwise you pay for it ) and I have now purchased a boat from a member of the WOA who was using a modified RYA system. All was done by e mail and it was an easy transaction.