Selling a boat in Italy - any experience/ripoff?

[desperatelyseeking]

The time has come to sell my Cranchi CSL 27 which i have kept in Sardinia for the past 7 years. Whilst I certainly didn't expect any good news on the valuation of the boat, I fear I mat be in danger of being ripped off! The company that looks after my boat have told me that they will charge 10% commission to sell the boat and that they have to dictate the selling price as they need to offer a guarantee on the boat for 6 months (Italian law apparently). They have valued the boat at Eu 15,000 which seems to be around 40% discount to other boats listed on international websites (2005 model). Do boats sell for far less than advertised or is my broker trying to pull a fast one to sell the boat to his mate "Guiseppe" for a knockdown price from the ignorant British tourist!! I was under no illusion that selling is an easy process and was planning on advertising my boat below the lowest priced boat on the market but this just seems a bit ridiculous.

 

[rafiki_]

Sounds like you need a bit of advice from MapisM, our local Italian resident, who keeps his boat at Sardinia. I heard he was looking for a tender

 

[Richard10002]

My experiences in Italy and Malta were along the lines of needing to count your fingers after you had shaken hands. You are obviously wary, and sensing that something isn't right. I would research the 6 month guarantee thing.. Hard to see a broker having the say on dictating price, rather than the client. Perhaps ask a few other brokers about the 6 month guarantee on all boats they sell. Posing as a possible buyer, you could ask what kind of guarantee they give on boats sold as brokers.

 

[julians]

I have no experience of selling a boat in Italy,but that doesn't sound right to me.

Surely if the broker had to provide a guarantee for 6 months then this would mean a higher selling price not a lower one.? Also would have thought that the owner should be the one setting the price.

 

[PowerYachtBlog]

Never heard this offer before.
It is interesting why Malta and Italy come up, and since I have dealt with Italian brokers since 1998 have never had this problem or these stupid offers before.

My family was buying a 2004 Fairline 34 Targa in 2008 and the broker asked for 20% deposit before I come and see it, so may be he can keep it up for me.
The broker told me if you do not give me deposit it is useless to come as boat will be sold.
He also knew I was a broker and I told him these are not usual terms, anyways he insisted that this was the deal of the millennium, Go figure.
Anyways I ended up buying in Sardinia from a good broker.

IMPORTANT NOTE
If you do not agree on Brokers terms (any broker) you can always say no, it is not mandatory to say yes.

 

[Deleted User YDKXO]

I have bought boats in Italy but never sold them. AFAIK yes if a dealer is selling a boat in the course of his business he is obliged to give a warranty although I thought it was 12 months not 6. I have never heard of a broker having to give a warranty on a boat he doesn't even own. I would have thought that brokers would very quickly go out of business if they had to do that

In any case how can lowering the selling price affect the warranty that the broker has to supposedly give? His commission is 10% of the selling price which in your case is €1500 which is hardly going to cover any warranty issues. Even if he sold the boat for twice the price his commission still probably wouldn't cover the warranty issues

I'm guessing you might be in N Sardinia. In my limited experience some people in the boating business up there are crooks. I have found some honest people further south in Sardinia. Ask around your local area and see which brokers have got a good reputation

 

[MapisM]

I heard he was looking for a tender

ROTFL, yeah, the CSL 27 would make a great tender, and even if a tad too big, is not bad as a skiboat, either! :encouragement:
But I'm afraid I'll have to postpone to my next life the possibility to buy a mothership big enough for her...

To the OP: simple answer, you'd better run than walk away from those guys.
First of all, common practice in IT is that any broker charges 5% commission to the seller AND 5% to the buyer (I know it sounds weird, but that's the way it is) - and even that, is a bit negotiable.
Secondly, you are fully entitled to establish the asking price, though of course you might be free to accept offers below that afterwards.
Thirdly, if the company is acting as a broker, it has ZERO duty to give any kind of warranty to the buyer.
It's only if they would offer you to BUY your boat themselves, reselling it afterwards, that they should give a warranty to the buyer (since they would act as boat dealers, rather than brokers) - and that would be 12 months btw, as Deleted User already mentioned.
Incidentally, if they would make you an offer to buy your boat at a rock bottom price, aiming at resell her later at a profit but with the obligation to give a warranty on her (which is perfectly legitimate), any commission request would be a nonsense: it's just a matter of agreeing the price.

 

[Whitelighter]

It sounds to me the broker is offering to buy your boat for stick at €15000.

Perhaps something lost in translation?