A question of Ethics

[Miracle]

Yesterday, quite by surprise a gentleman whom another boater knows well offered me an excessive amount of money for Miracle.

 

My first reaction was that he was nuts. He was offering me an amount that would easily pay for something moderate in the 30 to 40 ft range.

I pointed this out to him, his friend already knowing this agreed with me.

He said he didnt care, that Miracle at 20ft was perfect for him.

 

I even offered to find him something else if he was serious.

He told me not to dismiss his offer and just to think on it for a few days..

Later his friend came back to me and confirmed he is a cash buyer.

Crazy?

 

It is a lot of money, my partner thinks I'm being offered something I should not refuse.

I just think this guy should do some research is all. Miracle is nice, but he could get something much bigger with his money.

 

Plus I really like my boat. When it comes time to move it's going to be hard and there's no doubt I wont be getting the sort of cash he's offering.

[Tam & Di]

Yesterday, quite by surprise a gentleman whom another boater knows well offered me an excessive amount of money for Miracle.

 

My first reaction was that he was nuts. He was offering me an amount that would easily pay for something moderate in the 30 to 40 ft range.

I pointed this out to him, his friend already knowing this agreed with me.

He said he didnt care, that Miracle at 20ft was perfect for him.

 

I even offered to find him something else if he was serious.

He told me not to dismiss his offer and just to think on it for a few days..

Later his friend came back to me and confirmed he is a cash buyer.

Crazy?

 

It is a lot of money, my partner thinks I'm being offered something I should not refuse.

I just think this guy should do some research is all. Miracle is nice, but he could get something much bigger with his money.

 

Plus I really like my boat. When it comes time to move it's going to be hard and there's no doubt I wont be getting the sort of cash he's offering.

 

If you were a new member I'd assume this was a wind up, but to take it seriously: "That which is meant for you will not pass you by" says your signature. If you are happy to sell your boat you would be nuts to refuse his offer, especially as you have put it to him that he could get something bigger/better. Take it and it is you who can get something bigger/better, which you said you wanted in an earlier post.

 

On the other hand it is you who must live with yourself - I doubt that many replies will tell you to refuse him, but the decision has to be yours, with no regrets one way or the other.

 

 

Edit to add the caveat "Something that sounds too good to be true generally is too good to be true". Make certainly you are not being subjected to some scam - take cash or have his cheque clear before you go on your way.

Edited August 9, 2012 by Tam & Di

[Barry]

Will your conscience let you sleep at night if you think you have done the buyer wrong? If not - don't sell it to him

[dor]

A boat is only worth what someone is prepared to pay. This works both ways. If it is "perfect for him" then he may be prepared to pay over the odds.

 

I would make sure you had cleared funds though before giving him the boat.

[carlt]

Plus I really like my boat. When it comes time to move it's going to be hard and there's no doubt I wont be getting the sort of cash he's offering.

If you are hesitating then, rather than being excessive, the offer may be about the right amount to persuade you to sell something you value more highly than what the market does.

 

It may even be too low, if you decide you can't part with it.

 

Like the others I would be careful about the transaction, even if he appears genuine.

 

Excessive offers on high value goods are a common way of laundering money or passing stolen cheques.

[Higgs]

I wouldn't worry about the amount being offered, if the money is all from a bona fide source. Even if it is, it needs to be much higher than the market value to get you to part with something you wouldn't probably sell.

[Kae]

Sometimes people are willing to pay more for something that is "just right", I saw it a lot when I was more involved in the Classic Car scene. As another peep above has said, it's only worth what someone is willing to pay - and sometimes, that's more than you think it's worth!

 

Cash should be cleared into your account before handing over the keys (just go and pay it in - as you need to know it's genuine!).

 

As to whether you should sell, that's entirely your decision, but remain very vigilant either way.

[MtB]

Later his friend came back to me and confirmed he is a cash buyer.

Crazy?

 

Highly unlikely to be crazy. More likely to be planning a stitch-up of some sort in my view.

 

I'm never happy with cash. There are some very clever forgers out there and you're not going to know until YOU try to pay it into the bank at which point you become the loser if the bank later decides it isn't real money. I'd far rather the money arrived in my bank by bank transfer.

 

In addition, people with loadsamoney tend not to buy 20ft boats to live on, so the whole thing seems very fishy to me.

 

Plus I really like my boat. When it comes time to move it's going to be hard and there's no doubt I wont be getting the sort of cash he's offering.

The thing you really should be considering is what can you buy that is more suitable for YOU with the money, and still have something left over to compensate you for the substantial inconvenience and the logistical nightmare of moving all you stuff from one boat to another, and the increased license and mooring fees of a (presumably) bigger boat.

 

How long have you known these two geezers?

 

 

Mike

[koukouvagia]

Have you looked under the floor? A previous owner probably used it as a stash for drugs.

 

Actually, that's not as fanciful as it seems. A local boat was used for similar nefarious purposes and when the owner disappeared the police took a serious interest in the boat.

[cheshire~rose]

If the amount being offered is enought to enable you to go out and find yourself something better than what you have now then you should take it. "Better" will mean different things to different people. Maybe newer, bigger, including more equipment, requiring less upkeep etc.

 

It is a buyers market at the moment and if you have cash in hand to shop with there are some fantastic bargains to be had.

 

In a former life we were in the classic /modified car trade and we never managed to keep a decent car for on road use ourselves. We always seemed to be working on the next project. The reason was that as soon as that project was finished someone saw it and wanted it and if they were prepared to pay "the right" price for it then off it went and we would start the next project.

 

I always used to say that I could not have been worth anything because my former husband never actually sold me - everything else seemed to have a price tag!

[Bullfrog]

I'm never happy with cash.

 

 

You're obviously not VAT registered then Mike !

 

David

[bottle]

I always used to say that I could not have been worth anything because my former husband never actually sold me

 

Well that could be because you are priceless.

[Miracle]

thank you all for your comments.

I can certainly see that this may look like a wind up / troll thing, its not.

 

I was completely baffled by the offer. In fairness, I still am, however I am inclined to say no for a number of reasons - not the least of which is that I am a relative newbie to the boat community having only onboard since last October.

 

I took the decision to buy and live on a boat knowing no one truly involved in this life. So I really don't know anynone particularly well! (although I have met some remarkable and lovely people) The offer could very well be a stitch up - although the gent who is a boater does seem honest enough.

 

As luck and research would have it I got Miracle, tiny and cheap, but also in nearly prestine original condition, she was the weekend boat to two very committed learned owners. Boating life has a massive learning curve, as you all already know, and I am JUST starting to get the hang of it. So my boat is "priceless" in the sense that I have the luxury of learning at a slow pace about what needs doing.

 

Would I feel comfortable selling her for silly money? Perhaps, since I'd pointed out he could buy any number of boats on his budget. But probably not. If I was truly ready to handle a bigger boat, its bigger expenses and bigger potential issues, it would be different. Right now, I'm content knowing my little boat, its little expenses and it's potentially little issues.

 

 

When the olympics started I happened to see two lovely, stunning trad boats coming down the lea. When they stopped at the locks I spoke to the owners. When I mentioned wishing I could have such a luxurious boat myself the nice lady told me I had to wait until I was her age. She's probably right, although I wouldn't have guessed she was more than 10 years ahead of me. Its hard to say, boating seems to keep people looking a lot younger

 

ps. i would never hand over keys and papers before the money cleared... and about the police / boat stash, that's just scary!

[blackrose]

If I was truly ready to handle a bigger boat, its bigger expenses and bigger potential issues, it would be different. Right now, I'm content knowing my little boat, its little expenses and it's potentially little issues.

 

A bigger boat may be more expensive to licence, but I can't really see why it would potentially bring bring bigger issues? More paintwork to maintain perhaps.