Million dollar question

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pathfinderstu

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Good morning gentlemen, I am enquiring for a friend if anybody can tell me a rough estimate for the asking price for a Perret Fast 30, 1993 model in relatively good condition with all the normal extras. Marina berthed in the E.Med. Owner needs to sell for health reasons. thoughts would be appreciated, thanks.
 
Hi and thanks, yes that's the one, I cant find any info about the make or class on the internet, its not showing any interest on the market, I think it might be overpriced hence my enquiries on his behalf.
 
Not only overpriced but not an attractive boat in a very depressed market. Very few buyers around in Turkey and the boat can't be sold and used legally in the EU. Reducing the price significantly might attract a local buyer.
 
Unless she is already registered in Turkey then she can’t be bought and registered by a Turkish citizen so the chances of selling her here are slim unless you are lucky enough to find a foreigner who is resident in Turkey and qualifies to register her elsewhere outside the EU - I bought a VAT NOT PAID boat in Greece last year and registered in Jersey so I have no trouble entering the EU on a transit log. Not too many in my position around and in the market for a boat, I’d say. Sorry not to be more encouraging.
 
Irish Rover said:
Unless she is already registered in Turkey then she can’t be bought and registered by a Turkish citizen so the chances of selling her here are slim unless you are lucky enough to find a foreigner who is resident in Turkey and qualifies to register her elsewhere outside the EU - I bought a VAT NOT PAID boat in Greece last year and registered in Jersey so I have no trouble entering the EU on a transit log. Not too many in my position around and in the market for a boat, I’d say. Sorry not to be more encouraging.
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One of the brokerage listings for this boat mentions that it is UK registered.
 
pvb said:
One of the brokerage listings for this boat mentions that it is UK registered.
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Registration is (almost) irrelevant when it comes to entry into the EU. There are only two ways it could be used in the EU. The first if it is imported and VAT is paid. Then registration is completely irrelevant and does not even have to be registered in an EU state. The second if it is owned by a non EU resident it can enter for short periods under Temporary Importation rules. It must then be registered in a non EU state. Its use is constrained and it cannot be sold in the EU without paying VAT.

So its market is limited to buyers who are EU residents who are prepared to keep it outside the EU, or pay VAT to bring it in; or non EU residents.
 
Probably in the wrong place. Not sure that many potential buyers are going to want to travel to Turkey to look at a boat at that price point unless they know they want that particular model. The listing above on EYB is not particularly good, I would have thought more / better phots would help. If the design is not well known the buyer is going to need more photos to be able to visualise the internal lay out and so on.

Might get more interest in UK but the market is really not good for boats of that size.
 
Irish Rover said:
I have no intention of getting into a protracted debate but this is not so.
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Well, it is. I know you have convinced yourself it isn't but if you import a boat into the EU it is liable for VAT. If a non VAT paid boat (as this one is) comes into the EU under TI, and is sold it no longer qualifies for TI and VAT is payable.

How could it be otherwise as the whole point is to put imports on an equal footing with domestic products.

I appreciate that if it is sold to another non resident whois eligible for TI then VAT is not payable, but when the TI period runs out the boat must leave the EU. Again I appreciate that this merry-go round can continue probably indefinitely, but if the buyer wants to keep it in the EU and not be subject to TI constraints then he has to pay VAT.
 
Tranona said:
Registration is (almost) irrelevant when it comes to entry into the EU. There are only two ways it could be used in the EU. The first if it is imported and VAT is paid. Then registration is completely irrelevant and does not even have to be registered in an EU state. The second if it is owned by a non EU resident it can enter for short periods under Temporary Importation rules. It must then be registered in a non EU state. Its use is constrained and it cannot be sold in the EU without paying VAT.
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That's rather different from your earlier post where you said "the boat can't be sold and used legally in the EU".
 
bedouin said:
Probably in the wrong place. Not sure that many potential buyers are going to want to travel to Turkey to look at a boat at that price point unless they know they want that particular model. The listing above on EYB is not particularly good, I would have thought more / better phots would help. If the design is not well known the buyer is going to need more photos to be able to visualise the internal lay out and so on.
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Yes, very limited market in Turkey, people won't fly out there to look at a boat unless it's very keenly priced. The brokerage photos are rather poor, and the boat itself isn't particularly attractive, especially inside. The distinctive yellow stripes on the hull would put a lot of people off. And, as you say, the design is not well known. Maybe the only chance of selling it is to ask for "best offers"?
 
Tranona said:
Well, it is. I know you have convinced yourself it isn't but if you import a boat into the EU it is liable for VAT. If a non VAT paid boat (as this one is) comes into the EU under TI, and is sold it no longer qualifies for TI and VAT is payable.

How could it be otherwise as the whole point is to put imports on an equal footing with domestic products.

I appreciate that if it is sold to another non resident whois eligible for TI then VAT is not payable, but when the TI period runs out the boat must leave the EU. Again I appreciate that this merry-go round can continue probably indefinitely, but if the buyer wants to keep it in the EU and not be subject to TI constraints then he has to pay VAT.
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You’re a fine poster and I appreciate you give a lot of good advice and information but you post some absolute nonsense as well especially when you totally contradict yourself in the same post. By the way a VAT NOT PAID boat can actually be sold to/bought by an EU resident in the EU without paying VAT. The new EU resident owner will be granted a one month short term transit log to enable him/her to remove the boat from the EU.
 
Yes the above is true, also it can be sold to A Turkish citizen it quite a simple and relatively imexpensive process to change a flag from ssr registration to Turkish. I sold my Beneteau 43 last year and did this.. The Turkish gov. have had an amnesty on foreign flags to try and persuade to turn to TR.
 
pathfinderstu said:
Yes the above is true, also it can be sold to A Turkish citizen it quite a simple and relatively imexpensive process to change a flag from ssr registration to Turkish. I sold my Beneteau 43 last year and did this.. The Turkish gov. have had an amnesty on foreign flags to try and persuade to turn to TR.
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Yes I also availed of the amnesty to re-flag my boat and sell it to a Turk but, as far as I’m aware, the amnesty is no longer available.
 
The Amnesty did stop for a few months, now has been reintroduced at a higher rate... 8% of the boats value i think but may be wrong on the figure
 
pathfinderstu said:
The Amnesty did stop for a few months, now has been reintroduced at a higher rate... 8% of the boats value i think but may be wrong on the figure
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There was definitely some talk about such an arrangement but I wasn't aware it was actually introduced. I'll try to get some information during the week.
 
pathfinderstu said:
The Amnesty did stop for a few months, now has been reintroduced at a higher rate... 8% of the boats value i think but may be wrong on the figure
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I enquired about this today. The original amnesty provisions are still available @ 1% KDV (vat) but it only applies to boats which were actually in Turkey on a transit log in January 2017.
 
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