Fancy a 18m Ferretti?

[MapisM]

You might consider this bank repo F590, which is currently being auctioned...

 

[Whitelighter]

Hmmmm,

I think it would unwise to own two Ferrettis

 

[Croftie]

Hmmmm,

I think it would unwise to own two Ferrettis

You worried they may breed and have a litter of ferrets?

 

[Mr Googler]

JTB has a good quote on the subject but I can't quite recall it

 

[petem]

JTB has a good quote on the subject but I can't quite recall it

Something like 'why have you got two Ferretti? Because three would be excessive'!

 

[Mr Googler]

That's the one

 

[jimmy_the_builder]

Not me guv - gjgm was the original author, I just like to remind him of his post at every opportunity!

http://www.ybw.com/forums/showthread.php?158851-Windy-Prices&p=1659322#post1659322

 

[PowerYachtBlog]

Those reserved to shipyards bids usually need quite a bit of TLC.

So lets say 50k TLC (I am being conservative here) plus another 35k in VAT and it starts not looking so much as a bargain anymore.
If it ends up closing at that price.

 

[MapisM]

So lets say 50k TLC (I am being conservative here) plus another 35k in VAT and it starts not looking so much as a bargain anymore.

You are reading my mind on that. To the letter! :encouragement:

 

[Deleted User YDKXO]

You are reading my mind on that. To the letter! :encouragement:

Me too. In my head before I saw the actual last bid price of €174k, I thought €250k max and whoever buys her will probably end up spending €250k to put her back on the water in good shape so not such a bargain after all

 

[BartW]

If someone interested, I have been on this boat, and have loads of pics,
she's in a yard in Montenegro on the dry right now,

the boat was unused floating on a boy for 3 seasons,
so under the dirt and the fauna growth above and under water, it appears to be a nice and well equipped boat,
afaik (and have seen) the boat has NOT been submerged.
I think she can be put back in water for less than 100K,
but there are many uncertainty's ao about the engines, paperwork, etc...
so that I would never take the risc unless the boat could be purchased for a bargain say less than 100K

 

[PowerYachtBlog]

If someone interested, I have been on this boat, and have loads of pics,
she's in a yard in Montenegro on the dry right now,

the boat was unused floating on a boy for 3 seasons,
so under the dirt and the fauna growth above and under water, it appears to be a nice and well equipped boat,
afaik (and have seen) the boat has NOT been submerged.
I think she can be put back in water for less than 100K,
but there are many uncertainty's ao about the engines, paperwork, etc...
so that I would never take the risc unless the boat could be purchased for a bargain say less than 100K

It is a bank sale, so paper work should be okay.

 

[MapisM]

It is a bank sale, so paper work should be okay.

Agreed, that's probably the safest way of buying a used boat, from the bureaucratic viewpoint.
All other comments from BartW remain 100% spot on, though!

 

[PowerYachtBlog]

Agreed, that's probably the safest way of buying a used boat, from the bureaucratic viewpoint.
All other comments from BartW remain 100% spot on, though!

Yep!
Tbh and here we return the Italian versus other flags, I also think once you know what you are doing the Italian system with the Null Osta (free from encumbrances) part where you can also get it on the individual or company owning the boat is pretty safe.
Yes it is a bureaucratic hurdle especially compared to an SSR system where you can register everything really easy and sell it the same, but it has its benefits.