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Lightship Planet sold for £12,500


Dave_P
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http://www.thefloater.org/the-floater-may-2017/lightship-planet-sold-for-just-12500

it was valued at £100,000+

thr former owner still has £40,000 of outstanding debt. Most of this relates to CRTs decision to tow the boat from Liverpool to Sharpness via the Irish Sea which is obviously outside of the jurisdiction of CRT. 

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I can never understand the 'value' of something being so far away from its actual selling price.

Certainly you can 'get  bargain' occasionally, but surely - the value of an item is what someone is prepared to pay for it.

 

Just thought I'd check the Dictionary definition :

"value: the amount of money that can be received for something"

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It would be more accurate and factual to say that CRT have announced that they have 'sold' someone else's property. Since the ex- Bar Lightship was seized by CRT last year they have consistently referred to the rightful owner of it as the "former" owner, and this description is simply NOT true.

Legal title to the ship has never passed to CRT at any time, and they cannot therefore pass 'good' title to any prospective purchaser, any more than a burglar can legitimately sell, and pass on title to, the proceeds of a robbery.

I do happen to know for a fact that the impoundment of the ship in the possession of CRT in Sharpness, coupled with their announcement to the effect that they have sold it, is at present being investigated by Gloucestershire Police as theft. In the event of the Police investigation not being pursued through to a prosecution on the grounds that it is a civil matter, the owner of the ship will be proceeding with a private criminal prosecution run alongside and concurrent with the civil action for the return of his ship already in hand.

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54 minutes ago, PhilAtterley said:

It would be more accurate and factual to say that CRT have announced that they have 'sold' someone else's property. Since the ex- Bar Lightship was seized by CRT last year they have consistently referred to the rightful owner of it as the "former" owner, and this description is simply NOT true.

Legal title to the ship has never passed to CRT at any time, and they cannot therefore pass 'good' title to any prospective purchaser, any more than a burglar can legitimately sell, and pass on title to, the proceeds of a robbery.

I do happen to know for a fact that the impoundment of the ship in the possession of CRT in Sharpness, coupled with their announcement to the effect that they have sold it, is at present being investigated by Gloucestershire Police as theft. In the event of the Police investigation not being pursued through to a prosecution on the grounds that it is a civil matter, the owner of the ship will be proceeding with a private criminal prosecution run alongside and concurrent with the civil action for the return of his ship already in hand.

I suspect that the issues raised here are largely responsible for the very low sale price. The lack of confidence over the ownership would surely put most buyers off. 

1 hour ago, Mike the Boilerman said:

As has the previous owner. 

Fair point, but the owner doesn't have any control over my life. CRT do. 

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15 minutes ago, Dave_P said:

I suspect that the issues raised here are largely responsible for the very low sale price. The lack of confidence over the ownership would surely put most buyers off.  

Your suspicions are well founded, I am reliably informed that CRT complained that adverse publicity had delayed the sale and reduced the sale price in the e-mail they sent to the (present, not 'former') owner last Friday. 

It is also interesting to note that the Survey and Valuation carried out at a cost of £3355.00 on CRT's instructions immediately after the ship was seized put a 'nominal scrap value' on the ship of £70,750.

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On 24/05/2017 at 11:15, PhilAtterley said:

Your suspicions are well founded, I am reliably informed that CRT complained that adverse publicity had delayed the sale and reduced the sale price in the e-mail they sent to the (present, not 'former') owner last Friday. 

It is also interesting to note that the Survey and Valuation carried out at a cost of £3355.00 on CRT's instructions immediately after the ship was seized put a 'nominal scrap value' on the ship of £70,750.

 

So where does this go now then Tony?

Presumably a court case of some sort between the 'present owner' and the 'new owner', to establish true ownership.

 

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14 minutes ago, Mike the Boilerman said:

 

So where does this go now then Tony?

Presumably a court case of some sort between the 'present owner' and the 'new owner', to establish true ownership.

 

You'll have to look on the other channel for the full version!

  • Greenie 1
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  • 2 years later...

After all the fuss that was made about what really appears to be a fairly worthless chunk of metal, when police involvement was supposed to be ongoing and imminent, I'm afraid I find it highly unlikely that funding could have been found for the purchase if the title wasn't sound. You just try asking the bank for a loan and offering a stolen boat as security.

  There seems little evidence that the police are taking this "theft" seriously, any more than they would bailiffs taking stuff out of your house when you have unpaid debts. The original owner was a trier, but did various dodgy things to wriggle out of his liabilities (including claiming to have sold it to someone else for, I think, a quid) which can't have helped his case.

 

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  • 4 weeks later...

Right, yes if there is any uncertainty about what legal complications you might become involved with the purchase would look a lot less appealing? Does that suggest it has not been sold (yet?) then?

 

Given its a local boat, and of no significant value (value on a par with its liability) I still find it mad that it was moved so far if at all.

Obviously there where unpaid fees due, and they must be suitably recovered and or protected against, but also it seems a real shame it's now likely languishing.

 

 

Daniel

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3 hours ago, Jim Riley said:

Apparently the legal owner is still pursuing the wrongful snatching of the vessel. 

 

I wonder where he will put it if he gets it back. I can't imagine CRT giving him a mooring back in the docks. 

 

 

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