selling my boat

[cazberry]

hello everyone!

it's been a while since I've contributed on the forums! life has a tendency to take over somewhat! just a few quick questions really. My partner and I are both wanting to sell our narrowboats to enable us to buy one together. I've looked at some brokerages and feel that the 7.5% commission on each boat is somewhat extreme! Any suggestions/ideas of how to get around this? anyone know of any good brokers who don't charge the earth re commission? Someone has mentioned putting them on Apollo duck ourselves....is that the best way to go?

 

sorry. Lots of questions I know, but no harm in asking!!

 

 

enjoy the day y'all

Edited November 15, 2016 by cazberry

[sleigh]

I put mine on apolloduck on a free advert listing, however this is rather limited picture wise, concurrently i put an advert on ebay where one can add a dozen pics, if anyone enquired from apollo, i passed on ebay details with additional info, i priced the boat at a sensible realistic price, and i went in a few days, ebay ad removed, hey presto, no fees

[Helena Handbasket]

You'll often find that you can get a bit more for the boat selling through a broker than you would privately, which will go some way toward covering the commission fees. Lots of potential buyers will only buy through brokers. Of course you can sell privately, but be prepared to spend a lot of time dealing with time wasters and showing people around the boats who have no intention of buying.

 

If you consider your time to be free, selling privately could work for you. If you value your time, stick it on with a broker and let them deal with the hassle. You'll probably end up with a similar amount in your account at the end of it all whichever you choose.

Edited November 15, 2016 by Helena Handbasket

[Athy]

hello everyone!

it's been a while since I've contributed on the forums! life has a tendency to take over somewhat! just a few quick questions really. My partner and I are both wanting to sell our narrowboats to enable us to buy one together. I've looked at some brokerages and feel that the 7.5% commission on each boat is somewhat extreme! Any suggestions/ideas of how to get around this? anyone know of any good brokers who don't charge the earth re commission? Someone has mentioned putting them on Apollo duck ourselves....is that the best way to go?

 

sorry. Lots of questions I know, but no harm in asking!!

 

 

enjoy the day y'all

It's worth contacting some of the more reputable brokers with a good track record, such as ABNB or Rugby Boat sales, and finding out their rates. It may be advantageous to place your for-sale boats with the same broker from whom you are going to buy your new shared boat; they may offer a better rate in those circumstances.

Oh, and welcome back. Don't be a stranger!

You'll often find that you can get a bit more for the boat selling through a broker which will go some way toward covering the commission fees. Of course you can sell privately, but be prepared to spend a lot of time dealing with time wasters and showing people around the boats who have no intention of buying.

 

If you consider your time to be free, selling privately could work for you. If you value your time, stick it on with a broker and let them deal with the hassle. You'll probably end up with a similar amount in your account at the end of it all whichever you choose.

Good advice, Helena, one thing that a broker gets paid for is doing all the legwork so that the seller doesn't have to.

I think I once knew a Helena Handcart. I wonder if, by any chance, you are related.

[Neil2]

I agree brokers fees appear extortionate, but what you have to bear in mind is most if not all of them include free mooring until the boat is sold. If you anticipate your boats might take say six months to sell, the added cost of mooring fees has to be taken into account.

 

However, I've sold two boats on Apollo duck and one through a broker, we had no choice with the latter as we live hundreds of miles away but I would never, ever, use a broker again.

 

Selling a narrowboat has to be one of the easiest things, there is a ready market and most buyers have their head in the clouds.

 

Just be realistic about the price, and scrupulously honest in your dealings with prospective buyers.

[Jrtm]

If im honest this forum listing can be good how I got my boat before it was properly advertised.

 

Question wouldnt you be better selling just 1 and keeping the other?

[Dave_P]

You can, of course, put an advert in the for sale section on here. Free! And loads of pics possible.

[Alan de Enfield]

Don't forget that the Broker will be immediately donating 16.7% of his commission to HM Government,(VAT) and at the end of the year a further 23% of any profit he has made (Corporation Tax)

[Athy]

Is V.A.T. payable on second-hand goods? I thought it was a tax levied exclusively on brand-new products.

[Chertsey]

Is V.A.T. payable on second-hand goods? I thought it was a tax levied exclusively on brand-new products.

It's payable on the broker's services, not on the boat.

Good advice, Helena, one thing that a broker gets paid for is doing all the legwork so that the seller doesn't have to.

I think I once knew a Helena Handcart. I wonder if, by any chance, you are related.

My sister, in the course of her job, once came across someone who was genuinely called Helen Highwater.

[Athy]

 

My sister, in the course of her job, once came across someone who was genuinely called Helen Highwater.

I blame the parents.

[Phil Ambrose]

There was me thinking Helena Handcart was a pun.

Phil

[deckhand]

I agree brokers fees appear extortionate, but what you have to bear in mind is most if not all of them include free mooring until the boat is sold. If you anticipate your boats might take say six months to sell, the added cost of mooring fees has to be taken into account.

 

However, I've sold two boats on Apollo duck and one through a broker, we had no choice with the latter as we live hundreds of miles away but I would never, ever, use a broker again.

 

Selling a narrowboat has to be one of the easiest things, there is a ready market and most buyers have their head in the clouds.

 

Just be realistic about the price, and scrupulously honest in your dealings with prospective buyers.

I totally agree. I have sold one through apolloduck and one through an agent. I would certainly have a go at selling one myself first next time if I was able to.

[Alan de Enfield]

Is V.A.T. payable on second-hand goods? I thought it was a tax levied exclusively on brand-new products.

 

Which is why I stated it was payable on his commission.

 

Edit to add :

 

However if VAT was not paid on the goods (boat when new) it would become payable when sold even if it was 2nd hand.

Example - a liveaboad exempt boat that was sold as VAT free, but subsequently sold as a 'leisure' boat would be subject to VAT, or a 2nd hand boat bought into Europe (ie from the USA) would become due for VAT at its 1st port of entry into the EU, where VAT would be payable on the price of the boat, the cost of the shipping, and 'others'.

Edited November 15, 2016 by Alan de Enfield

[Mike Tee]

I agree brokers fees appear extortionate, but what you have to bear in mind is most if not all of them include free mooring until the boat is sold. If you anticipate your boats might take say six months to sell, the added cost of mooring fees has to be taken into account.

 

However, I've sold two boats on Apollo duck and one through a broker, we had no choice with the latter as we live hundreds of miles away but I would never, ever, use a broker again.

 

Selling a narrowboat has to be one of the easiest things, there is a ready market and most buyers have their head in the clouds.

 

Just be realistic about the price, and scrupulously honest in your dealings with prospective buyers.

Also,some of them will hold the boat on their trade plates, so no license is required either. License plus mooring over 3 or 4 months adds up to a fair bit.

[Stilllearning]

Also,some of them will hold the boat on their trade plates, so no license is required either. License plus mooring over 3 or 4 months adds up to a fair bit.

My experience of brokers that offer that service is that they charge a fee for providing it.

[matty40s]

It is a sellers market at present, and likely to stay that way for the forsee able future.

Brokers are finding it difficult to get hold of enough boats to sell with two positives for you.

1. You can pitch broker against another broker, they can only get 7.5% if they have your boat to sell, if you tell them Scurvy Boats is offering to sell it for 5%, they are likely to drop their rates.

2. Moat boats are selling for asking price, and boat values look like they are actually rising. Someone who comes in with a cheeky very low offer can be safely told NO, there will be another viewer along soon.

[Athy]

if you tell them Scurvy Boats is offering to sell it for 5%, they are likely to drop their rates.

 

Anywhere near the A5?

[Drayke]

 

Which is why I stated it was payable on his commission.

,

Edit to add :

 

However if VAT was not paid on the goods (boat when new) it would become payable when sold even if it was 2nd hand.

Example - a liveaboad exempt boat that was sold as VAT free, but subsequently sold as a 'leisure' boat would be subject to VAT, or a 2nd hand boat bought into Europe (ie from the USA) would become due for VAT at its 1st port of entry into the EU, where VAT would be payable on the price of the boat, the cost of the shipping, and 'others'.

These boats are sold as ZERO Rated for VAT not Vat free, the difference is that VAT is payable but at a Zero Rate so not VAT paid. Still a bit of a grey area.

[cazberry]

Thank you all for your input... lots of good advice... we've gone down the route of keeping one and selling other... but we both want different things from our boats now, being live aboard.... and it would always be my boat or his boat! So we want 'our' boat!!

[Alan de Enfield]

These boats are sold as ZERO Rated for VAT not Vat free, the difference is that VAT is payable but at a Zero Rate so not VAT paid. Still a bit of a grey area.

 

You are correct, but the principle that if they are subsequently sold as 'non-liveaboard' the become liable for full VAT at the standard rate (20%)