boat selling advice

[joseph53p]

I am an American owner of a Wauquiez Chance 37, and considering selling her. Because of the strength of the Euro and the fact that she is a European boat that appeals more to European sailors, I am wondering about the possibility of shipping her to England (or elsewhere) to sell her. What are the VAT implications, and other pros and cons, that might come in to play? Any advice or suggestions much appreciated.

Cheers, Joseph Kelly

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[snowleopard]

if you sell a boat in the EC the new owner becomes liable to pay VAT at the rate applicable in the country where the transaction takes place (17.5% in the UK for example).

this means that to be competitive with local VAT-paid boats you will have to ask less.

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[FullCircle]

Dont forget it will need a CE mark if it comes back (after June 1998) - Boats exported to a particular market (i.e. USA) may not necessarily meet the CE regulations!

Jim

<hr width=100% size=1>Second Chance - First Love. I still need a 7m Luff Spinnaker & Pole for 22 footer!! Help!

 

[joseph53p]

Thanks for the replies. If the boat was first sold in France (1973), does all this still hold true? Joe

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[Rowana]

Joe,

Try this site.

<A target="_blank" HREF=http://www.ceproof.com/>http://www.ceproof.com/</A>

They specialise in all the regulations regarding bringing yachts into the EC, and should be able to help you with regards to the rules, costs etc.

Hope this helps

Jim

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[alex_g]

As the boat was originally constructed and sold within what is now the EU, there should be no concerns regarding exemption to the RCD (Recreational Craft Directive).

On the subject of VAT; you are best to find a friendly brokerage house with onsite storage who are prepared to import your yacht on the VAT number and keep her ashore until sold. The VAT will then be charged at 17.5% (unless the yacht is exported say to the Channel Islands to benefit a non-VAT paying purchaser) on the selling price. The brokerage house will normally pay the revenue to HMCE using the sale proceeds.

Try giving someone like Ancasta a call who have to capacity to do this and tend to deal with yachts of this size and value.

<hr width=100% size=1>can occasionally be found in his office at Berthon International