Selling our boat - strange buyer approach

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Chae_73

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As mentioned in a previous post, we have decided to sell our boat.

So far, I've just listed on the Westerly Owners Association website, as I thought that would result in more sensible enquiries. Largely it has.

Then this week I received a short email asking if the boat was still available and for my "best price". I responded.

The next day I got another email which said the buyer, who hasn't even provided a name, would buy the boat for £1k less than the price I had given in my previous email.

Since then, I've had another email explaining that they are "too busy" to view the boat but will arrange to have it "shipped" upon completion (no mention of to where) and will send me a cheque and I will have cleared funds prior to releasing the boat to them.

It has all the hallmarks of a scam but I'm not sure exactly what the scam is?

Anyone heard of this type of approach?
 
It's a scam. Probably next they will want to pay you more than the asking price and you refund them the difference. The cheque will be fraudulent. There are more buyers than boats at the moment so just ignore this scammer.

Add a note to your advert that you will not deal with anyone not prepared to visit the boat. Anyone serious will want to see it in the flesh. And no-one in English this side of Nigeria says 'shipped' for a boat unless it's going across an ocean on a physical ship.
 
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I saw this with a 7K caravan. It would be delivered and payment held by the delivery company until I was satisfied with the goods. Thing is, the scammer had set up the fake shipping company too. If they try often enough, they'll find a sucker!
 
I guess that scammers usually want cash or easily tradeable goods. A 30+ year old yacht doesn't really fall into the category of easily tradeable goods so I was wondering what the scam would be.

My guess would be something along the lines of what @AngusMcDoon suggests, once you are more involved they somehow try to get you to pay money to them.
 
Definitely suspect I'm afraid. The scam will be that once they have paid you and you complete a bill of sale in their name and send them the paperwork, they will inform their bank that they have been a victim of fraud. Their bank will initiate a chargeback to your account and your bank will stop your account, remove the money and ask you to provide cast iron proof you aren't a fraudster. If they are successful, they will have their money back and your boat in their name, with all the original paperwork. Don't ask me how I know.......☹️
 
IIRC the period of time that a chargeback can occur has been reduced considerably in recent years. Don't recall what it is but may be worth a look....
 
Speak to your bank's security team. Their number's on the rear of your Debit Card.
That's what they're there for....
 
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Scam without doubt. They send you money that isn't theres, so you loose the goods and the money once the banks catch up, or some variation thereof. Hilariously, they may also ask for advances from you for legal or other fee's throughout the process, which is the kids profit, so to speak. Its organised crime, essentially.

Have a look on the Autotrader web site, I think it explains it quite well as this is a common scam with vehicle sales. Thats if I recall correctly.

What boat are you selling, out of interest? Am I allowed to ask here, as I know the forum limit is £400? Not sure how it all works. DM me if it's over 30ft and newer than 2005 :)
 
salad said:
Scam without doubt. They send you money that isn't theres, so you loose the goods and the money once the banks catch up, or some variation thereof. Hilariously, they may also ask for advances from you for legal or other fee's throughout the process, which is the kids profit, so to speak. Its organised crime, essentially.
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I doubt that the scammer wants the boat. Bit tricky to move on in Nigeria. They want cash. There would likely have been some extra request just before the sale, like advanced fee or overpayment refund.
 
I had this approach for a smaller boat. Funds transferred with extra to pay the transporter. Obviously one would lose the boat and the money for the transport when the 'funds' disappeared from my acct.
It was word for word out of the scammers guide to riches. Amount was around €3.5K
 
One has to wonder why a Nigerian Prince is scratching around in a Westerly's owners website looking for suckers. Business must be bad. Top marks for lateral thinking (no refection on Westerly owners).

I'd think a warning to Westerly owners is in order - and might turn up others with the same approach.

Jonathan
 
Avoid the cheque at all times ( with this person or with any other)

Ask for a CHAPS payment ( make sure it is a CHAPS) and advise your banks CHAPS department that you are expecting a CHAPS and to let you know when it arrives. ( They typically do that by default) Only when your bank has confirmed it has a CHAPS payment should you let the boat go.

Basically the difference is that the sending bank for CHAPS has to release the funds to the receiving bank and there is then no comeback to the receiver.

And in terms of cheques and cleared - Cheques now take 2 days to clear. The other bank can't just debit your account after that by returning the cheque unpaid but personally i would not allow the boat to go until at least cob day 3 in case the advice is delayed some how.

Better explanation here
How long does it take for a cheque to clear in my account?.
 
Chae_73 said:
As mentioned in a previous post, we have decided to sell our boat.

So far, I've just listed on the Westerly Owners Association website, as I thought that would result in more sensible enquiries. Largely it has.

Then this week I received a short email asking if the boat was still available and for my "best price". I responded.

The next day I got another email which said the buyer, who hasn't even provided a name, would buy the boat for £1k less than the price I had given in my previous email.

Since then, I've had another email explaining that they are "too busy" to view the boat but will arrange to have it "shipped" upon completion (no mention of to where) and will send me a cheque and I will have cleared funds prior to releasing the boat to them.

It has all the hallmarks of a scam but I'm not sure exactly what the scam is?

Anyone heard of this type of approach?
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Depends on what sort of cheque. If he sends you a building society cheque ( ie in the name of the society rather than his name at the society) then my understanding is that it cant be rescinded. Same with a bank draft which also is a form of cheque. If its on his personal account then there is a time limit even after clearing

The bit that likely is making you nervous is his not viewing the boat first. But then as someone has already pointed out in a way, one 30 year old Westerly is likely much the same as another and is hardly likely to be expensive.

So find out from your bank how long after clearing the funds will be irrevocably yours and maybe go ahead only releasing the boat after that date.

Odd situation with clearing. When working I used to do deals in the £m based on funds cleared by a London clearing bank - without problem. Maybe they did the job more seriously when big money was involved and the customer bank was in S America or wherever. Nowadays it doesnt seem to mean what it used to mean.
 
Birdseye said:
Depends on what sort of cheque. If he sends you a building society cheque ( ie in the name of the society rather than his name at the society) then my understanding is that it cant be rescinded. Same with a bank draft which also is a form of cheque. If its on his personal account then there is a time limit even after clearing

The bit that likely is making you nervous is his not viewing the boat first. But then as someone has already pointed out in a way, one 30 year old Westerly is likely much the same as another and is hardly likely to be expensive.

So find out from your bank how long after clearing the funds will be irrevocably yours and maybe go ahead only releasing the boat after that date.

Odd situation with clearing. When working I used to do deals in the £m based on funds cleared by a London clearing bank - without problem. Maybe they did the job more seriously when big money was involved and the customer bank was in S America or wherever. Nowadays it doesnt seem to mean what it used to mean.
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Banker drafts and Building Society Cheques are guaranteed to have the funds.
The issue with them is how does the receiver know they are genuine - Draft books / Building Society cheques have been known to be stolen / forged so whilst a very small risk, it's still a risk. On top of that, how many people know what a Lloyds Draft looks like? Or a Newbury Building Society Cheque??
On that basis i would still wait for them to clear.
 
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