Boat pricing

[Portofino]

So ask the IT broker for sight of the blue book .
Ask if the boat is reg to a private individual.

They can be reg d to companies if leased ......just be aware of this .Not a deal breaker just an extra layer of possible risk because you need to establish that the balance of lease will be paid off etc etc .
Anyhow stick with a privately owned one imho in IT .

 

[Soco2]

Ok thanks, probably not a massive problem come December but when spending a fair bit of money want to ensure I will be able to move it on easy and not have difficulties if sailing to Portugal etc ?

 

[MapisM]

They can be reg d to companies if leased ......just be aware of this.
Not a deal breaker just an extra layer of possible risk because you need to establish that the balance of lease will be paid off etc etc.
Anyhow stick with a privately owned one imho in IT.

Actually, with an IT flagged boat, the system is bulletproof also if the first owner originally bought it through leasing.
In fact, you can be faced with two alternatives:

1) the "Licenza di Navigazione" (aka "blue book", as you called it - LdN for brevity) shows that the boat is still owned by the lessor - typically a bank.
In this case,the boat must be bought from the bank, that will issue a VAT invoice for whatever residual value+possible termination fees is agreed.
A 100% safe transaction, that becomes also a proof of VAT payment in itself.

2) the LdN shows that at some point the ownership was transferred from the lesser to the lessee - typically a private individual, i.e. the current seller.
In this case, the transfer of ownership is in itself a proof of leasing redemption, which in turn is also a proof of VAT payment.
The boat must obviously be bought by whoever the current owner is according to the LdN.
But the transaction is still 100% safe, because if the boat was offered as a collateral of a new financing after the leasing redemption, such guarantee is void unless transcribed on the LdN.

 

[rubberduck]

I wouldn't trust my family on a boat I had doubts about.

 

[GaryJeffery]

Whilst we all love a good discussion, does anybody think it might be a question best asked of the manufacturer?
Just a thought

 

[GaryJeffery]

This is ok if the boat or any vehicle is kept in good serviceable condition. A cat d Ferrari with no service history and a few scratches won’t appreciate. Also what happens after uk leaves eu and boats effectively devalue compared to eu boats?

Interesting comment re values, why will they devalue after Brexit?

 

[petem]

Whilst we all love a good discussion, does anybody think it might be a question best asked of the manufacturer?
Just a thought

What do you suggest the manufacturer is asked?

 

[kashurst]

Interesting comment re values, why will they devalue after Brexit?

I believe after the brexit transition period, UK boats in the UK, will loose their EU VAT paid status. So if you want to sell a UK based boat in the med someone will have to pay EU vat if it is permanently exported there. Similary the reverse is true, an EU vat paid boat will be liable for VAT in the UK if it is permanently imported. Not a problem if you are happy either in the med or in the UK.
But brexit has effectively cut the second hand UK boat market off from the EU boat market. So prices will be affected, probably downwards as EU buyers will no longer come over to the UK. Few potential buyers = lower demand = lower prices.

 

[jrudge]

There is a degree of hysteria in this thread.

The boat was grounded. It was repaired. The op happens to know it’s history.

lots of boats get grounded and repaired ( including my t40 by your truly on bramble bank ).

the boat is then repaired and off you go.

Now if it was on the rocks and the hull had major work would I buy it ? No. But as far as described that is not the case It is mechanical bits that have been bent and replaced.

a survey should rapidly tell you if there is an issue.

 

[Portofino]

Insurers + lost adjusters are not gonna blow there annual bonuses by splurging out ....ask yourself why only gearbox was repaired .
why not in a belt n braces approach replace both ?

As for the Brexit Q
Eventually due to Fe. x the £ will be so strong or € so week they ( Johnny foreigner ) will be unable to buy a bag of chips never mind a boat .
Bit of both a bit of Brexit islands stronger economy free from EU rules dealing with the ROW , but mostly the doomed euro project in terms of € single currency .The ones left that net pay in will not be able to cope with the ones that receive when GB stops paying in .
The gilt for the U.K. is the booming economy will generate a £ to £ internal market strong enough to keep residuals up .
Our guys fair* prin seeker will struggle with “ home “ demand


* if Fairline can survive the next 12 / 24 months ??

 

[jrudge]

On the one occasion I made a claim it was done by a Volvo main agent. They said what needed to be done. It was approved within the hour.

 

[MapisM]

a survey should rapidly tell you if there is an issue.

But this is the point, J: not even a surveyor can tell for sure.
And neither the manufacturer can, in fact (in reply to GJ post #45).

With GRP hulls, it's relatively easy to spot major damages, with cracked bottom, broken stringers, etc.
But that's a situation where the boat is rarely worth fixing.
With "softer" groundings, where the abnormal load is distributed in areas of the hull wide enough to sustain the hit without cracking open, assessing the damages (if any) can be practically impossible.
In fact, the inherent elasticity of the hull could have been enough to sustain the impact without affecting any structural components, and that's all well and good.
But it is also quite possible that the impact, no matter how soft and distributed, created a load on the hull that was beyond its elasticity.
And in this case, something somewhere has to give.
Now, if this creates a major damage, with visible cracks inside, we are back to the first alternative.
But it is also possible, particularly with the stringers, that some cracks/delamination develops only inside them, without any visible damage.
And in this case, what you've got is essentially a broken and weakened hull, whose internal damages are waiting the next hit (possibly just some waves while cruising in rough conditions) to expand further.

Bottom line, 'fiuaskme, I might consider a grounded and repaired boat with a steel or wooden hull, but I'd rather walk away from GRP no matter what.

 

[Soco2]

I believe after the brexit transition period, UK boats in the UK, will loose their EU VAT paid status. So if you want to sell a UK based boat in the med someone will have to pay EU vat if it is permanently exported there. Similary the reverse is true, an EU vat paid boat will be liable for VAT in the UK if it is permanently imported. Not a problem if you are happy either in the med or in the UK.
But brexit has effectively cut the second hand UK boat market off from the EU boat market. So prices will be affected, probably downwards as EU buyers will no longer come over to the UK. Few potential buyers = lower demand = lower prices.

I agree, unfortunately the U.K. boat market is small and has been drained of good boats to the eu.
we will loose out by not being able to buy and sell to eu without tax implications and the small market in the U.K. won’t create big demand internally so prices are likely to fall ultimately.

 

[Soco2]

But this is the point, J: not even a surveyor can tell for sure.
And neither the manufacturer can, in fact (in reply to GJ post #45).

With GRP hulls, it's relatively easy to spot major damages, with cracked bottom, broken stringers, etc.
But that's a situation where the boat is rarely worth fixing.
With "softer" groundings, where the abnormal load is distributed in areas of the hull wide enough to sustain the hit without cracking open, assessing the damages (if any) can be practically impossible.
In fact, the inherent elasticity of the hull could have been enough to sustain the impact without affecting any structural components, and that's all well and good.
But it is also quite possible that the impact, no matter how soft and distributed, created a load on the hull that was beyond its elasticity.
And in this case, something somewhere has to give.
Now, if this creates a major damage, with visible cracks inside, we are back to the first alternative.
But it is also possible, particularly with the stringers, that some cracks/delamination develops only inside them, without any visible damage.
And in this case, what you've got is essentially a broken and weakened hull, whose internal damages are waiting the next hit (possibly just some waves while cruising in rough conditions) to expand further.

Bottom line, 'fiuaskme, I might consider a grounded and repaired boat with a steel or wooden hull, but I'd rather walk away from GRP no matter what.

I agree with this and it was my primary concern! the boat in question threw up problems with repairs and an external company were drafted in because the engine shaft/mounts etc couldn’t be aligned. It took 5 sea trials I believe to get it sorted.
sounds Like it might be slightly bent to me?
who knows, I wasn’t there. But from what I know I’m now looking for something else.
Want a 40-43 flybridge if anyone selling ?