jfm
Well-Known Member
How is the purchase going Squadron? Are you still be pushed by seller to buy his company rather than the boat?
buying a company registered boat
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squadron
Well-Known Member
no , everything seems ok . the boat is being inspected tommorow and i should have a report by the weekend . if i purchase, it will be private ,on part 1 ,and vat paid , see i am learning thanks to your goodself and others on this forum . looks like i have the icc course sorted too in palma .
many thanks
david
jfm
Well-Known Member
Excellent. That sounds good and i hope it all continues to go well. Post pictures on here if it all works out nicely, and see you around in the Med next summer 
squadron
Well-Known Member
had the report back
just an update for you, the report came back , and , well ,the cosmetic stuff can be fixed easily , some grp work , teak deck needs re calking , new anchor chain, etc , however all the pumps aircon and other ancillary stuff will have to be upgraded and serviced , cost arround 75k to bring it back to good condition, thats not all ,the surveyor couldnt start the engines as the batteries were flat (i was a little annoyed by that) , you would think an owner who was desperate to sell would at least make sure the engines run ?. anyway i guess if i decide to have the boat lifted and there are other problems then the cost would be way too much for me . i need to think about what to do with it now .
all is not lost though because over the weekend i had an email from a broker in mallorca who has been looking for something for me for a while , and he has come up with what seems like a great deal ,so at least i have other options to consider .
just an update for you, the report came back , and , well ,the cosmetic stuff can be fixed easily , some grp work , teak deck needs re calking , new anchor chain, etc , however all the pumps aircon and other ancillary stuff will have to be upgraded and serviced , cost arround 75k to bring it back to good condition, thats not all ,the surveyor couldnt start the engines as the batteries were flat (i was a little annoyed by that) , you would think an owner who was desperate to sell would at least make sure the engines run ?. anyway i guess if i decide to have the boat lifted and there are other problems then the cost would be way too much for me . i need to think about what to do with it now .
all is not lost though because over the weekend i had an email from a broker in mallorca who has been looking for something for me for a while , and he has come up with what seems like a great deal ,so at least i have other options to consider .
jfm
Well-Known Member
Sorry to hear that. Fact is, there is a lot of appallingly tatty stock across the 2nd hand market generally, and you have to wade through it to find the really good stuff, of which there is plenty too! Good luck
squadron
Well-Known Member
thanks jfm , i know earlier in one of my threads someone said that sq 58 were being sold for less than 250k euros , try as i may, i cant find any ???
jfm
Well-Known Member
Yup I can't find any either. Plenty asking high €300s, like 375k, and maybe some of these are actually selling at under 300. I don't know. These would be 2002-2003-2004 boats. 2004 is the one to aim for becuase that had some nice improvements over 2003.
My old 2004 Sq58 just got sold last week by its 2nd owner to its third, not VAT paid, for middle €400k. Reasonable condition for year, 1000 hours. It has been on market about 6 months. I therefore think anything <€300k might be pretty tatty, but you might get lucky of course
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