This is where we publish our boat related stories and articles, which range from world circumnavigation to rescue missions, humour and much, much more. So make yourself a coffee and settle yourself down to a good read.
The English Court of Appeal has for the first time, recently established an absolute rule that an assured who tells a lie or relies upon false evidence to support an otherwise valid insurance claim, will forfeit the claim entirely. In other words, even if the lie or false evidence is immaterial to the insurance claim, an underwriter or insurance company will be able to successfully deny cover.
News from the US Pacific Northwest – Boatshed Seattle
Some of the countries on southern rim of Mediterranean are in a state of upheaval. The headlines give the impression of an arc of fire, chaos and danger. Having visited Morocco many times over the last few years I have never found it to be anything but hospitable and exciting in equal measure.
In a previous article I focused on the what the vendor needs to do to sell his boat successfully. It’s now my obligation and indeed pleasure to share my thoughts of what an astute purchaser needs to do in order to get himself a “good” deal. I put the word good in quote marks because one should never confuse “good” with best price. I’ll develop this idea in a moment.
As 2014 comes to a close it's time to reflect on performance over the year. I am happy; on average we have sold two yachts every month. It's a respectable performance, enough to keep the wolves from the door. Looking over the list of boats sold a host of fascinating characters come into focus. Each one of them very different and each with diverse reasons for wanting to sell their yacht. Some sold well and others could have done better. How do you get the best deal for yourself?
Welcome to Boatsheds Newsletter, in it we round-up what Boatshed has been up to in the boat sales market and report on major events and trends in the sector. We are also introducing new and exciting Boatshed products and initiatives to support our customers, and give advance notice of future Boatshed events. With inciteful contributions from customers, brokers in the field and industry experts, its designed to bring together information that we think our customers - sellers and buyers - will find useful and interesting.
Morocco is an exotic location just a stone’s throw from Europe’s southern shores. Sadly many sailors have misconceptions about Morocco and consequently miss out on some fantastic experiences.
Events, Boat Shows and Regattas in which Boatshed plan to participate, or which are of interest to our customers, during 2015.
This end-of-year review focuses on the VAT 'hot topics' of 2014 and offers a few ideas for boat buyers and sellers to consider for the next year.
At Boatshed we encourage feedback from our customers, as a way of monitoring and improving the services we offer. Here are some recent comments we have received:
The fourteenth edition of the Gibraltar - Morocco Yacht Rally took place on the weekend of the 27th June. A record 34 yachts entered, although two never made it to the start line. The RN Gibraltar Squadron kindly positioned a real gunboat, HMS Sabre, to provide the starting signals.
The yacht, Baraonda sold by Boatshed Gibraltar in February 2013, has been up to the UK and down again to Spain and Portugal. We pick up Wendy & Craig’s story as they prepare to set off across the Atlantic after spending New Year 2014 in the Cape Verde Islands.
The pleasure of being a yacht broker is in the interesting characters that can move in and out of your life. These characters come to Boatshed Gibraltar looking for a yacht in order to realise their dreams. Helping someone achieve a lifelong ambition is hugely satisfying, although sometimes there are lingering doubts about the feasibility of their plans.
It all started with a phone call from a gentleman who told me that he had just succeeded in an eBay auction for a yacht with a bid of just over £35,000. He had noticed, the morning after his euphoric night, that the same yacht was for sale with Boatshed Gibraltar at £110,000. He was beginning to think that maybe there was something amiss. I thought it interesting that when he wanted to reassure himself that he was not being defrauded he turned to the broker! My first inclination was to let him sink as he was now trying to get a brokerage service but had earlier opted for an auction process that dispensed with the broker. However I reconsidered.
There are various ways you can now search using different criteria.
It’s a nightmare scenario. Your beloved life partner has succumbed to an illness. After what is probably the most painful experience of your life you emerge to discover that now you own that yacht you never really loved. Selling a yacht in these circumstances is stressful in the extreme. The fact that the yacht may be docked be in a foreign port just adds to the bewilderment you are facing. Over the past few years Boatshed Gibraltar has acquired considerable experience handling these distressing situations. Let me share some of the issues that need to be considered. Correct handling of these issues will help you sell the yacht and quickly stop the cash outflow at an awkward time. It is much easier to handle these situations if provision has been made in a properly drafted will that defines who is the “beneficiary” of the yacht. Unpleasant and unwelcome as thoughts of death may be, the inevitable is exactly that, inevitable. Good planning will help your heirs quickly dispose of the yacht with minimum fuss. If the testator (the person making the will) has his home “ domicile” in a country that issues Probate then his executors will be required to apply for a Grant of Probate. The Grant of Probate gives the executor the authority to sign the paperwork required to sell the yacht. If the testator has his home in a civil law country the Yacht Registry will probably want to see an Inheritance Certificate issued by a Notary Public which identifies the heirs. There are many other issues to consider such as tax, de-registration and payment of any outstanding berthing charges. When a yacht owner dies intestate (without having a will) the situation is a little more complex. Under English law the intestacy rules will decide not only who the heirs are but also who can apply to administer the estate. Instead of an executor the grant will be issued to a person or persons with an interest who will be referred to as an administrator. It is the administrator who can sign the transfer form when the Grant of Letters of Administration has been issued. Executors and administrators are sometimes collectively referred to legal personal representatives. Other jurisdictions may not have similar court orders in which case the Yacht Registry will probably want to see either a Certificate of Inheritance. If the yacht is in a foreign port it may make sense to retrieve it to a jurisdiction where the rules and language are familiar to you. However no marina will allow a yacht to sail out if it owes berthing fees. We are often surprised at how little knowledge of the yacht a partner can have. To list a yacht for sale effectively you need to have more than a cursory knowledge of the yacht. A good broker will help you recover the technical specifications of the yacht and create a listing that is attractive to potential buyers. Complex situations can always be broken down into small and understandable steps. We have recently handled the sale of yacht inherited by a Russian family that was berthed in Spain and which has been acquired by a Belgian who needed all the correct ownership documents to register the yacht in Gibraltar. I am pleased to say that this was achieved in record time and in complete security. The sooner we get involved the quicker we can get to work on ensuring that the requisite documentation is in place to sell the boat. In these cases time is money and the sooner we can set to work the sooner we can sell the yacht. If you need any help in one of these appalling situations don’t hesitate to contact an experienced and straightforward broker like Boatshed Gibraltar.
This article is designed to de-mystify the subject of the Spanish Matriculation Tax (Impuesto de Matriculación) on yachts.
One of the pleasures of my new life as a yacht broker is the people I get to meet. From millionaires to seagoing paupers all have interesting life stories to share. The most inspiring and intriguing character so far has been Bruno.
Professionals move to work offshore to earn a better salaries and accumulate savings. Their technical skills command a premium in sands of the desert oil camp or the humid heat of the Arabian Peninsula. Typically these individuals work for intense periods and then get extended rest and recreation periods.
Goldstars is the nickname of RAF 31 Squadron. The Goldstars have been in Gibraltar for a week with their Tornado GR4s. Boatshed Gibraltar had the pleasure of inviting nine pilots and navigators for a day's sailing. The link up was serendipitous but as a former Acting Pilot Officer in the University of London Air Squadron it was an unique opportunity to meet these Top Guns and talk about a career path I never took.