bloody brokers

Phoenix of Hamble

Phoenix of Hamble

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28 Aug 2003
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mishapsandmemories.blogspot.com
I am in the middle of purchasing my first boat.

I have to say, I am generally gobsmacked at the approach of brokers.... considering they typically take 8%..... they are unbelievable in their lack of attention to detail....

I have found a boat that seems just right... have put in an offer, and have negotiated a little, and hopefully agreed a price that is fair for both sides....

The broker has sent me a contract of sale, which refers to the inventory.... for which they have re-sent me a copy of the 1 page sales leaflet that they send out to all and sundry, and has a VERY brief summary of what is on board.... I have verbal confirmation of the existence of a VAT recepit and bill of sale... yet teh contract says they are attached as an appendix... are they heckers....

Is it just me, or is that just not good enough for what will inevitably be a decent 4 figure fee?... or am I just being overly fussy?
 
Quit agree about the VAT receipt etc... they are non negotiable... I see them, or I don't buy the boat...

I was more interested in the inventory.... for example.... the doc says 'Raytheon autopilot'..... no mention of what model... and then says 'various spare sails'... no mention of what exactly... I'm not wanting to be anal... but this seems a bit on the light side for me detail wise...

as an aside... how's the no smoking going?.... I'm 2 months free of the weed mid next week..... yehhaaaaa
 
If it was me, I would be scuttling for the exit unless they provided a detailed list, and the original VAT etc Bills of sale may not be available, for example I dont have mine as it was provided to the VAT man when I paid the VAT, and I never got it back. didnt really worry me 17 years ago, but things have changed since then oh well at least she is Part 1 registered.

As a great example of how it should be done take a look at these for the good ship Galea (now renamed Exposure
Specification and Inventory
List of spares

Now that is how it should be done!
 
[ QUOTE ]
wish I did!

No sorry did not mean that

Regards Briani

[/ QUOTE ]

Your only as old as the woman you feel Brian! ....... If thats the case then Stellagirls fella is gonna feel about 11 at the rate she's going! /forums/images/graemlins/laugh.gif
 
Considering the outlay you (me, we) make I have to say the brokerage service is amatuer to the point of disbelief. My impression is not one of deceit and malice but rather of incompetence.

Now here's a thought; there are a good deal of us in this forum who have been on the recieving end of this nonsense so, who is up for starting up a co-operative brokerage? Could be fun.

Mark
 
The last boat I bought was through a broker. Several hours after completion and receiving the Bill of Sale he phoned to say that, after speaking to Part 1 Registry, the boat had two mortgages outstanding on it (he should have checked this on receipt of my deposit).

Four (very uncomfortable) months later the Registry advised me that the encumberances were cleared.

The problem is that brokers look, and sound, very plausible. Add this to our emotional involvement with the boat we are about to purchase and it is a receipe for disaster.

More fool us, I guess, for giving them the business.
 
They're mainly amatures who like to have an office by the sea and they employ too many people who may be able to sail but know nothing about buying and selling, or about what the real selling points of some of they're boats are.
I've done my own conveyancing and worked in sales and have thought in the past of setting up a brokerage...but it means working weekends.
 
Same here. Fortunately we found the owner and got on like a house on fire. The brokers were ignorant, ill-mannered, rude and I think illiterate. They didn't say thank you when we handed them the deposit or when we gave them the balance. Their yacht hoist cost £100 but because it wouldn't lift the boat igh enough to go on the trailer at one hit they charged an extra £20 to put it on blocks adjust the hoist and lift it again puting the trailer underneath.

I certainly hope we never get blown into W Super M on our travels.
 
Not so very long ago I bought a nice little trailer sailer - lying at a marina, sold by a Broker. Not wishing to make 2 round trips, I turned up at the brokers with cash (only £800).

The Brokers unbelievable response?

"Oh no sir, we can't take CASH"

Deal off.... until I walked out threatening to tell the owner the broker was refusing to sell the boat to me.

Another occasion the broker absolutely insisted the boat (again on a trailer) be brought to the marina for selling.

Nothing heard for several weeks, other than phone assurances there was 'lots of interest', so I went to check. No sign of my boat and nothing anywhere on the Brokers publicity boards. The man himself was out, so I asked the girl if they had any boats of that particular class or type.

No sir.... !!!!! Can you check? No definitely nothing like that, sir.

I went off in search of my boat, and found it tucked away in a corner of the boat park behind several larger boats, sheeted up with nothing to indicate it was for sale.

I applied myself to the marina office, and pointed out the shortcomings of their brokerage.

Give them their due they were very helpful, waived all charges, and allowed me to remove the boat immediately - moving 2 others with the travelift to let mine out. The fact they did not check with the Broker before doing so speaks volumes....!

I happened to go past there a couple of months later - the Brokerage office had closed down...
 
That really is a terrible story, why do we brits put up with crap like that.

NAME & SHAME

As long as its factual I see no problems unless IPC do?

I might add I have just purchased my Dufour thru Ancasta & the broker in Port Napoleon was very helpfull & extremly courteous, even to the point of calling me on my Mobile to get permission to de-register the boat so it could be handed over with a clean title.

I think at the end of the day it all comes down to the individual and training.

poter
 
Boats can be expensive items, some are worth more than many houses but estate agents (don't we love em) don't charge anything like 8%.

Why a percentage anyway, what extra work do they do for a £200,000 boat than a £10,000 one. 8% of £200,000 is £16,000 yeah plus £280 VAT. not bad for printing a few leaflets.
 
Re: W super M

If you do get blown in use the YC pontoon further down the river instead.We allways get a friendly welcome there.
 
Yacht brokers really can vary - ideally use an ABYA (Association of Brokers & Yacht Agents) qualified broker, a detailed list is shown on the association website at: www.ybdsa.co.uk
ABYA brokers (just like YBDSA Surveyors) must have professional indemnity insurance and a separate clients account. Before they can join, they have to have a minimum of 2/3 years experience in the brokerage industry and be proposed by an existing member.
There are many non ABYA brokers about who are knowledgeable, efficient and trustworthy.
If you have any doubts about anyone who is not ABYA qualified, ask them if they have PI insurance and check that they do have a clients account.
 
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