Momac Posted December 31, 2018 Report Share Posted December 31, 2018 20 hours ago, yabasayo said: Generally the bigger and flashier the brokerage the more commission they charge ie in addition to paying for the boat, you are paying a penalty for the salesman's salary, his secretary, his office and his company's profit etc. The buyer does not necessarily pay more for a boat on brokerage. It is the vendor who pays the broker . Link to comment Share on other sites More sharing options...
matty40s Posted December 31, 2018 Report Share Posted December 31, 2018 On 27/12/2018 at 11:53, MartynG said: . Thats ridiculous . Don't trade with them. Rugby Boats or ABNB have never charged 10% commission to my knowledge. 1 Link to comment Share on other sites More sharing options...
Alan de Enfield Posted December 31, 2018 Report Share Posted December 31, 2018 19 minutes ago, MartynG said: The buyer does not necessarily pay more for a boat on brokerage. It is the vendor who pays the broker . The buyer only ever pays what he is prepared to pay irrespective of who is selling it. Link to comment Share on other sites More sharing options...
Momac Posted December 31, 2018 Report Share Posted December 31, 2018 24 minutes ago, matty40s said: Rugby Boats or ABNB have never charged 10% commission to my knowledge. It was 10% deposit paid prior to survey that was under discussion, not commission. Link to comment Share on other sites More sharing options...
matty40s Posted December 31, 2018 Report Share Posted December 31, 2018 6 minutes ago, MartynG said: It was 10% deposit paid prior to survey that was under discussion, not commission. They have also never charged 10% deposit. They do however give a full and complete refund of deposit if 10% or more of the value of the boat is needed in repairs following the buyers survey. 1 Link to comment Share on other sites More sharing options...
Momac Posted December 31, 2018 Report Share Posted December 31, 2018 34 minutes ago, matty40s said: They have also never charged 10% deposit. They do however give a full and complete refund of deposit if 10% or more of the value of the boat is needed in repairs following the buyers survey. Did Jinna misunderstand in post #1 ? Link to comment Share on other sites More sharing options...
yabasayo Posted December 31, 2018 Report Share Posted December 31, 2018 2 hours ago, MartynG said: The buyer does not necessarily pay more for a boat on brokerage. It is the vendor who pays the broker . Really ? The only source of cash in the transaction is from the buyer. I think you will find that the buyer pays the cash to the broker who then deducts his commission and passes whats left to the seller. Link to comment Share on other sites More sharing options...
yabasayo Posted December 31, 2018 Report Share Posted December 31, 2018 22 hours ago, TheBiscuits said: At 5% typical brokers fees, that suggests you have spent £2 million on boats. Good for you if true. I'm afraid you arithmetic is a bit naff. Link to comment Share on other sites More sharing options...
Alan de Enfield Posted December 31, 2018 Report Share Posted December 31, 2018 (edited) 19 minutes ago, yabasayo said: Really ? The only source of cash in the transaction is from the buyer. I think you will find that the buyer pays the cash to the broker who then deducts his commission and passes whats left to the seller. When you buy at auction you typically pay a 'buyers premium' (20% + VAT is not uncommon) so you buy at the hammer price of say £20,000 but as the BUYER you actually pay £24,800. The Auctioneer gets paid the £4,800 by the buyer. When you buy from a 'broker' the buyer pays the 'asking price' and the seller then pays the brokers charges from the sales income. So, it is the seller who pays the broker - NOT the buyer. Edited December 31, 2018 by Alan de Enfield Link to comment Share on other sites More sharing options...
Alan de Enfield Posted December 31, 2018 Report Share Posted December 31, 2018 4 minutes ago, yabasayo said: I'm afraid you arithmetic is a bit naff. Can you explain then your maths ? You have saved over £100,000. If the brokerage fee is 5 % Then £100,000 is 5% of what you have spent. Therefore what you have spent is over £2,000,000 on boats. Link to comment Share on other sites More sharing options...
Momac Posted December 31, 2018 Report Share Posted December 31, 2018 18 minutes ago, yabasayo said: Really ? The only source of cash in the transaction is from the buyer. I think you will find that the buyer pays the cash to the broker who then deducts his commission and passes whats left to the seller. Yeas .. really . When the boat is placed with the broker the vendor agrees to pay the broker a percentage of the sum paid for the boat. The broker may well handle the money in the way you describe . There is no buyers commission. . Link to comment Share on other sites More sharing options...
Alan de Enfield Posted December 31, 2018 Report Share Posted December 31, 2018 (edited) 49 minutes ago, MartynG said: Yeas .. really . When the boat is placed with the broker the vendor agrees to pay the broker a percentage of the sum paid for the boat. The broker may well handle the money in the way you describe . There is no buyers commission. . Maybe Yassy has never actually bought a boat so isn't aware of the procedure because these £2 million of boats were bought by an imaginary friend. Edited December 31, 2018 by Alan de Enfield Link to comment Share on other sites More sharing options...
Clanky Posted January 1, 2019 Author Report Share Posted January 1, 2019 14 hours ago, matty40s said: They have also never charged 10% deposit. They do however give a full and complete refund of deposit if 10% or more of the value of the boat is needed in repairs following the buyers survey. Ok, apologies, i have just watched the video again and i did misunderstand the Rugby boats chap as he never actually said 10% deposit. He did say 2, 3 , 4 thousand pound deposit.. Video is here, from 6.20 on is the bit i heard. But the fact is on a 60 grand boat if it needs any work doing to it it has be in excess of six grand before you can safely say no to the deal to get your deposit back. Link to comment Share on other sites More sharing options...
yabasayo Posted January 1, 2019 Report Share Posted January 1, 2019 12 hours ago, Alan de Enfield said: Can you explain then your maths ? You have saved over £100,000. If the brokerage fee is 5 % Then £100,000 is 5% of what you have spent. Therefore what you have spent is over £2,000,000 on boats. Broker fees are typically between 6% and 10% plus VAT. I have bought and sold 9 boats ie 18 transactions on which brokerage fees would have been charged. £100k divided by 18 = £5.5k If £5.5 represents 6% plus vat then the average boat value is 5.5 - (5.5 x 0.2) = 4.44x 100/6 = £75k. In fact my most recent boat sold for £185k. Before you repeat that broker commission does not apply to the buyer (which is exactly what the broker wants you to believe ) I will explain again. The buyer is the only source of cash in the sales and purchase transaction. In the transaction there is no other source of cash. The broker adds his commission to the price that the seller is willing to accept and the buyer pays for the boat plus the brokers commission. To pretend otherwise is delusional. (Are you a broker by any chance ?) Link to comment Share on other sites More sharing options...
mrsmelly Posted January 1, 2019 Report Share Posted January 1, 2019 11 hours ago, Alan de Enfield said: Maybe Yassy has never actually bought a boat so isn't aware of the procedure because these £2 million of boats were bought by an imaginary friend. Farcebook ? Link to comment Share on other sites More sharing options...
Momac Posted January 1, 2019 Report Share Posted January 1, 2019 7 minutes ago, yabasayo said: Broker fees are typically between 6% and 10% plus VAT. I have bought and sold 9 boats ie 18 transactions on which brokerage fees would have been charged. £100k divided by 18 = £5.5k If £5.5 represents 6% plus vat then the average boat value is 5.5 - (5.5 x 0.2) = 4.44x 100/6 = £75k. In fact my most recent boat sold for £185k. Before you repeat that broker commission does not apply to the buyer (which is exactly what the broker wants you to believe ) I will explain again. The buyer is the only source of cash in the sales and purchase transaction. In the transaction there is no other source of cash. The broker adds his commission to the price that the seller is willing to accept and the buyer pays for the boat plus the brokers commission. To pretend otherwise is delusional. (Are you a broker by any chance ?) In your calculation above you are calculation a commission on both the vendor and the purchaser , which is not correct. But since you have never used a brokerage you would not know. Link to comment Share on other sites More sharing options...
Momac Posted January 1, 2019 Report Share Posted January 1, 2019 29 minutes ago, Jinna said: Ok, apologies, i have just watched the video again and i did misunderstand the Rugby boats chap as he never actually said 10% deposit. He did say 2, 3 , 4 thousand pound deposit.. Video is here, from 6.20 on is the bit i heard. But the fact is on a 60 grand boat if it needs any work doing to it it has be in excess of six grand before you can safely say no to the deal to get your deposit back. If they want to sell a boat they may accept £1k initial deposit prior to survey and a bigger deposit a few days after the survey report. Your surveyor may well find defects . It seems inevitable . i am fairly sure boats create their own faults while they are advertised for sale Without being picky about trivial faults you may be able to reduce your offer to reflect significant faults. In any case, even if good survey report is provided, you should have in mind a reserve of say £2k to deal with faults such a s new batteries being required and servicing costs within the first months of ownership. I bought my present boat with repairable defects but I negotiated a reduced price which just about covered the costs . Anyone expecting to find a boat free of defects may take a very long time to find it. Link to comment Share on other sites More sharing options...
Matt&Jo Posted January 1, 2019 Report Share Posted January 1, 2019 Hi there, Can i just say that you wanted to know what to offer on 70k we looked for over a year and a half for our floating home and we did as suggested, popped in these cheeky offers. Now this can work Mrsmelly can attest to that and he had a total steal on his boat, its very nice and well kitted out but thats id say the exception not the norm. We tried to haggle alot and it is without question a sellers market due to inflated prices and people paying asking and above.... Be sensible...try the cheeky offer but be prepared to pay the asking price as you may well have to......plus survey plus insurance plus licence.... Sorry to be the doom and gloomer but that's the reality of the situation most of the time.. Ask tho, that offer may be accepted, ours wasnt and lost boats in minutes at least 7 or 8 times as people just gave asking. we gave 2k under the asking for this boat after alot of negotiation and the risk of loosing it. It will happen and the rewards are huge if its for you ? 1 Link to comment Share on other sites More sharing options...
Richard10002 Posted January 1, 2019 Report Share Posted January 1, 2019 1 hour ago, yabasayo said: Broker fees are typically between 6% and 10% plus VAT. I have bought and sold 9 boats ie 18 transactions on which brokerage fees would have been charged. £100k divided by 18 = £5.5k If £5.5 represents 6% plus vat then the average boat value is 5.5 - (5.5 x 0.2) = 4.44x 100/6 = £75k. In fact my most recent boat sold for £185k. Before you repeat that broker commission does not apply to the buyer (which is exactly what the broker wants you to believe ) I will explain again. The buyer is the only source of cash in the sales and purchase transaction. In the transaction there is no other source of cash. The broker adds his commission to the price that the seller is willing to accept and the buyer pays for the boat plus the brokers commission. To pretend otherwise is delusional. (Are you a broker by any chance ?) The brokers commission isn’t paid by the buyer. To pretend otherwise is delusional? Link to comment Share on other sites More sharing options...
frahkn Posted January 1, 2019 Report Share Posted January 1, 2019 1 hour ago, Jinna said: Ok, apologies, i have just watched the video again and i did misunderstand the Rugby boats chap as he never actually said 10% deposit. He did say 2, 3 , 4 thousand pound deposit.. Video is here, from 6.20 on is the bit i heard. But the fact is on a 60 grand boat if it needs any work doing to it it has be in excess of six grand before you can safely say no to the deal to get your deposit back. As I posted earlier, this is all negotiable, it needs to be. If you were asking Rugby to sell your boat for say, £70,000 and a potential buyer offered £69,000 subject to survey, but would not agree to a £6,900 deposit, nor to a deposit retention. You would be pretty p***** o** if Rugby could not come to some alternative solution. So they can and do. This is what happened when I bought my boat from Rugby......Im not imagining it! Link to comment Share on other sites More sharing options...
Matt&Jo Posted January 1, 2019 Report Share Posted January 1, 2019 All our dealings with rugby boats have been brilliant, one if the best brokerages around IMHO ? 1 Link to comment Share on other sites More sharing options...
yabasayo Posted January 1, 2019 Report Share Posted January 1, 2019 4 hours ago, MartynG said: In your calculation above you are calculation a commission on both the vendor and the purchaser , which is not correct. But since you have never used a brokerage you would not know. No idea how you reach that conclusion which is obviously incorrect. Each of my 9 boats has been sold twice, once to me and once by me. Link to comment Share on other sites More sharing options...
WotEver Posted January 1, 2019 Report Share Posted January 1, 2019 4 hours ago, yabasayo said: The broker adds his commission to the price that the seller is willing to accept and the buyer pays for the boat plus the brokers commission. To pretend otherwise is delusional. I must be delusional then. When I sold through a broker I asked what he reckoned a realistic selling price was for that boat. He gave his opinion which was broadly in line with my own estimation, and that’s what it was marketed at. I, the seller, then paid his commission out of the sales proceeds. To suggest that the price was inflated to add the broker’s commission is delusional. 2 Link to comment Share on other sites More sharing options...
Momac Posted January 1, 2019 Report Share Posted January 1, 2019 6 minutes ago, yabasayo said: No idea how you reach that conclusion which is obviously incorrect. Only you think that. Link to comment Share on other sites More sharing options...
bigcol Posted January 1, 2019 Report Share Posted January 1, 2019 I haven’t a clue in boat prices we put Jambo Rafiki on brokerage in sept this year. For £99000 then after a offer and a in the water survey surveyver came from Southampton spent all day on the inside Fire extinsers were out of date no life saving device problem with alternator, ‘stupid little things’survey cost the lady £700 for the survey broker now has copy of survey,as I it’s now going to be used as a selling tool lol clean bill of health but lady pulled out due to her daughters loosing their inheritance lol it was off the market for 2 months due to the sale etc. Its now up For £85000 now as comments made that the bathroom was dated so really haven’t a clue repriceing, although I’ve been told to take it to a brokers on the Thames.get more money. Or sell more quickly its on with the broker and on Apoloduck There 2 people on it, but waiting for house sale,and selling a house in spain col Link to comment Share on other sites More sharing options...
Featured Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now