Inherited Grand Sturdy 430AC - help!

[Sanika]

Hi,
I inherited a Linssen Grand Sturdy 430 AC Twin (built 2004) from my father who passed away. I know nothing about boats and am not able to keep it.

At the time of his passing the boat was in Corfou but it is now back in Maasbracht where he bought it. It has been entirely refitted and we have signed a contract with Linssen allowing them to sell it. However, the broker now says he cannot sell it because it is registered (at the British Registry) and that I should de-register it. This puzzles me as
a) it needs to be registered for insurance to work and that insurance is needed for test drives etc.
b) I was told that it was easier and cheaper to transfer the registration to the new owner (once it is sold). Is this not current practice?
Please advise.

Another thing, the broker is also saying that in his opinion I should consider a trade-in but I really don't want to have another boat that also needs work and that might also take months or years to sell but he is arguing that with the economic situation it is unlikely to just sell (without a trade-in). What do you think?

Many thanks!
S.

 

[Bilgediver]

Hi,
I inherited a Linssen Grand Sturdy 430 AC Twin (built 2004) from my father who passed away. I know nothing about boats and am not able to keep it.

At the time of his passing the boat was in Corfou but it is now back in Maasbracht where he bought it. It has been entirely refitted and we have signed a contract with Linssen allowing them to sell it. However, the broker now says he cannot sell it because it is registered (at the British Registry) and that I should de-register it. This puzzles me as
a) it needs to be registered for insurance to work and that insurance is needed for test drives etc.
b) I was told that it was easier and cheaper to transfer the registration to the new owner (once it is sold). Is this not current practice?
Please advise.

Another thing, the broker is also saying that in his opinion I should consider a trade-in but I really don't want to have another boat that also needs work and that might also take months or years to sell but he is arguing that with the economic situation it is unlikely to just sell (without a trade-in). What do you think?

Many thanks!
S.

I would suggest you speak to the Marine Office at Cardiff. There are two types of registration. Part 1 the same as big ships and SSR ( small ships register)

You will see that there is a form available for Part 1 deregistration and when dealing with ships this is normally done at the time of sale when the new owner has to register the ship under his details. There is no reason this should interfere with the sale so long as all parties are aware and this is done correctly.

The staff at Cardiff are very helpfull and will help you over this matter.

http://www.direct.gov.uk/en/TravelAndTransport/Boatingandtravellingbywater/PleasureCraft/DG_180557

 

[BoyBlue49]

Your experience is contrary to normal Dutch broker practice of being very helpful.
Why would you want another boat, as you say you are not into boating. It seem to me that he is trying to off load a boat on to you that may be unsaleable in normal circumstances.
Is the broker HISWAS affiliated, you could try another broker. Your boat is a well respected make in Holland so it should sell at the right price.

 

[Deleted User YDKXO]

However, the broker now says he cannot sell it because it is registered (at the British Registry) and that I should de-register it.

Hi Sanika, welcome to the forum. I think there must be a misunderstanding here. There is no reason why the broker should not sell the boat with British registry. In fact it might be an advantage for a certain type of European buyer who may want an ownership structure that hides his ownership of the boat. In any case, its fairly easy to de-register a boat but normally the new buyer does that

Another thing, the broker is also saying that in his opinion I should consider a trade-in but I really don't want to have another boat that also needs work and that might also take months or years to sell but he is arguing that with the economic situation it is unlikely to just sell (without a trade-in). What do you think?

On this point I agree with the broker and there are 2 reasons why. First it will be easier for you to sell the boat if you are willing to take a small boat in part exchange. Second you now have more control of the price. You don't need to sell your boat at a low price and you can be quite tough about the value you offer for the part exchange. Sure you have to wait longer to get all the money but at the end of the day you will probably end up with more money from the whole deal. I have done this myself and it has worked out well. Personally I would only accept a small boat in part exchange, say with a value less than 50% of the one you're selling and hopefully less than that. But you must make sure that the p/x boat is in good order with all necessary documents so employ a surveyor to assess the condition as if you were buying it for yourself.

Its a shame you're selling the Linssen though. They are lovely boats. Are you sure you don't want to use it yourself? I bet your father would be happier if you did!

 

[gjgm]

Not sure Mike. This isnt someone with any interest or knowledge about boats- this could easily leave him with more of a dilemma.
OTOH I guess it is ok to be open to a part exchange- you are not agreeing to a part exchange.
Be very fussy on the other boat and take a heavy (35pct?) haircut. Just check how much brokerage this guy exepcts to keep being paid.
The other thing might be do some sums..by the time you have paid all sorts of fees etc, maybe you can just offer the boat privately at a well sub market price, be done with it, and move on.
Edit. One thing to bear in mind Linssen might be the best place to sell, but they might be the last place to want anything other than a market price supporting boat...

 

[Nick_H]

It seem to me that he is trying to off load a boat on to you that may be unsaleable in normal circumstances.

.. and how do you work that out? have you met the broker in order to accuse him of being a crook, and set Sanika worrying?

Suggesting that a seller should consider a part exchange is a perfectly pragmatic thing to do in a difficult market, and Sanika can always choose not to.

 

[BoyBlue49]

Nick H

Not worth a comment !

 

[volvopaul]

For that kind of boat I would also try using an English broker.

One ive had dealings with when I bought my boat was Mike Miller at Imperial motor yachts, he sells your kind of boat and specialises in the make and type of boat, he has many European and Dutch contacts.

I would go down the partex rout for sure if you dont gt any takers, try it for 3 months then decide what to do.

Not sure if I like the sound of your brokers ways though, id be carefull.

 

[Red]

You need to approach a specialist who deals in these matters. This is a common problem, happens all the time. Contact me if you need help.....

 

[Nick_H]

You need to approach a specialist who deals in these matters. .....

It's being sold through Linssen themselves, who you'd hope are specialists in Linssens, although they'll apparently try and palm off unsaleable boats onto the descendents of their valued customers .. ???

 

[MapisM]

Its a shame you're selling the Linssen though. They are lovely boats. Are you sure you don't want to use it yourself? I bet your father would be happier if you did!

+1.
Not only that, you might eventually be happier too.
These days, you'll never be able to get from the sale a monetary value anywhere near the value of the pleasure time which a boat like that can give you.
Sorry for your loss anyway, and good luck for whatever you'll decide to do.

 

[PCUK]

Don't accept a part exchange, especially if you have no interest in boats. Use several brokers, you are not limited to one in particular. Set the price at the correct level for the current market and it will sell. Probably a lot less than you hope for or were told it was worth. Price it too high and it won't sell. It is a very nice inheritance but a financial burden if boats are not your thing.

 

[n.herring]

Hi Sanika, the brokers that are selling boats at the moment are those that are willing to do a deal and are not frightened to put their own money on the line by stocking boats and trade ins.
There are a couple of that are willing to take in a part ex in order to sell your boat, obviously at a price! I have used Norfolk Yacht Agency and found them excellent, they have even taken cars and property recently in order to facilitate a deal.
Have a chat with James on 01603 713434 he will give you good advice on the sale and the registration issues, and if there is a deal to be done he is your man.
No interest just a happy customer

Good luck, Neil

 

[boat-registration.org]

Regarding registry of the vessel it should remain UK registered until you sell the vessel, however you will need to contact the registry and advise them you now have title of the vessel. As the vessel is Part I registered I would check any possible finance issues, when changing title, but do hold this as a Part I is an expensive process and buyer may wish to continue this registration. If not they simply request deactivation via the MCA UK ship registry.

visit http://www.dft.gov.uk/mca/ for help.

On a personal note I would not take a px, I can understand why the broker would offer this as a solution, keep your options open, however you are still left with a boat you need to sell, costing you money and potentially deprecating, if you have no interest then take a sensible offer.

 

[Deleted User YDKXO]

+1.
These days, you'll never be able to get from the sale a monetary value anywhere near the value of the pleasure time which a boat like that can give you.

On the other hand, no used boat, even one as nice as a Linssen, is going to increase in value in the next few years so if the OP does want the money, he probably should try to sell now rather than wait

 

[MapisM]

he probably should try to sell now rather than wait

Fair point, but otoh we could well be at the lowest historical level.
There are indeed yards going bust, which means that production capacity will be lower in the future, and the demand might well pick up again, sooner or later - time will tell.
What's for sure is that there's no substitute for the inherent value of time well spent - though of course those who suffer of sea sickness might not appreciate that...

 

[Deleted User YDKXO]

Fair point, but otoh we could well be at the lowest historical level.
There are indeed yards going bust, which means that production capacity will be lower in the future, and the demand might well pick up again, sooner or later - time will tell.

I doubt it. Once prices fall to a certain level, that becomes the market expectation. In 2-3 yrs time, after the PIIGS countries have left the Euro and even if European economies are finally on the mend, this boat will be 2-3yrs older and worth less still. Yes prices might pick up a bit to compensate for that, but there's no way the boat will be worth a lot more and then the OP has to consider 2/3yrs loss of interest on the money as well. IMHO he wants his money out, the OP should sell now for the first reasonable offer that comes along

 

[rlw]

I agree that is is an od request from the broker. From personal experience I would expect that once a buyer has been found he will request a deregistration in order to allow him to register the boat.

 

[MapisM]

In 2-3 yrs time, after the PIIGS countries have left the Euro

Yaaawn... Wasn't that supposed to happen in a few months, already some months ago?

 

[Deleted User YDKXO]

Yaaawn... Wasn't that supposed to happen in a few months, already some months ago?

As sure as night follows day