Advice for Sellers
Why it's important to use a qualified broker
SELLING A BOAT SHOULDN'T BE STRESSFUL, BUT THE PROCESS IS MORE INVOLVING THAN MEETS THE EYE!
The reality is there is much more to do than simply advertise your boat and find a buyer. Negotiation is stressful and when you are selling your pride and joy, emotion quickly gets the better of an achievable sale. This process may start again following survey! A broker is there to take away the stress and get to a positive outcome.
Miles Stratton Marine will manage the contract and resolve any issues that may otherwise get out of hand. A buyer will expect things of you that are hard to deliver, highlighting the importance of a professional intermediary. Insulating yourself from the process brings a better result.
Our advice is to always have an experienced broker involved whether selling or buying.
Legal Title
This can be quite complex and isn't as obvious at it seems. It requires an experienced eye, especially where boats have, at some time been transferred in partnerships, within families, through divorces, wills/estates, businesses or finance. It is very easy to mistake a seemingly clear title path for one that isn't.
We are here to make sure that doesn't happen.
RCD (Recreational Craft Directive) CE Marking & RCR (Recreational Craft Regulations) UKCA Marking
With few exceptions boats between 2.5-24m brought into the UK or first sold in the UK after the 16th of June 1998 must comply with the RCD Regulations.
For a boat to be legally sold and used in UK waters it must be compliant with RCD CE or RCR UKCA depending on when first sold or put into service.
Here is a useful link to see if your boat or the boat you are interested in complies - https://www.hpivs.com/ce-certification-2/rcr
It may have significant cost to comply with the legislation, so it is advisable to check. We do!
VAT Status
All boats built after the 31st Dec 1984 must be able to prove their VAT status under HMRC rules. Boats built prior to this must be able to prove when they were built and where they were on the 31st Dec 1992 to be given amnesty.
Additionally, since BREXIT a vessel needs to provide proof of it's location on the 31st Dec 2020 - 1st Jan 2021.
Proof is needed or a tax liability exists.
Whilst we are not tax experts, we are happy to give our view on importing boats to the UK or taking boats into Europe and beyond.
Pitfalls (what we ensure is correct)
- Clear title is not always obvious; it needs rigorous checks.
- Establishing if a boat is RCD or UKCA compliant is a must.
- Is the VAT trail what HMRC require?
- Does the seller know what is required or just think they do?
- Buying a boat privately has few checks and balances.
Contact us if you’re considering selling. We’re happy to give you advice and talk you through the process.
You may find it helpful to read our blog Why use a Professional Broker.
EXCELLENTTrustindex verifies that the original source of the review is Google. Miles Stratton Marine was entrusted to sell Saskia, a 1931 William Fife 8mR. This was a very specialised project but Miles tackled it enthusiastically and found the right person to be the next custodian of a historic classic yacht. Very happy with the service.Posted on GoogleTrustindex verifies that the original source of the review is Google. Miles is a true professional, honest and trustworthy, i would highly recommend Miles Stratton Marine for both selling or purchasing.Posted on GoogleTrustindex verifies that the original source of the review is Google. A smooth and easy transaction brokered by Miles. A stress free service.Posted on GoogleTrustindex verifies that the original source of the review is Google. I was very happy with the sale of my boat through Miles. He was thorough , professional and a pleasure to deal with. He took the responsibility for a lot of the bits and pieces that needed attention which was particularly useful as i live some way away. I would recommend Miles as a broker to anyone.Posted on GoogleTrustindex verifies that the original source of the review is Google. I used Miles to sell my motorsailer on the Clyde and he did a great job. He was well recommended by Silvers and offered a lot of useful advice. He knows the market and is thorough. He answers his phone pretty much immediately, and keeps you updated. I would both buy and sell from Miles.Posted on GoogleTrustindex verifies that the original source of the review is Google. Miles came highly recommended and performed a brilliant service. He clearly knows his boats, human nature and how to manage expectations, both for sellers and buyers.We would highly recommend him to anyone and judging from our experience of selling a boat in Spain he would handle business anywhere, not just his own local area. Thanks Miles.Posted on GoogleTrustindex verifies that the original source of the review is Google. We first met Miles when we viewed a boat he was selling and were impressed with his proactive and professional approach which set him apart from other brokers. We later engaged him to sell our Moody 36 - despite some challenges (due to the boat itself) Miles worked very hard to keep the sale process alive and felt an incredibly safe set of hands throughout the whole process. We fully recommend him as a broker👍Posted on GoogleTrustindex verifies that the original source of the review is Google. Excellent service and support from Miles regarding marketing and selling my boat. The sales information and boat photos were of a very high standard. He was very involved in the overall process and gave fair and proactive guidance throughout the process. Very impressed with his work as the sale as agent for the vessel.Posted on GoogleTrustindex verifies that the original source of the review is Google. Miles Stratton Marine, professional, friendly, knowledgeable. I would have no hesitation whatsoever in recommending Miles and his company for anyone looking to buy or sell. Fabulous experience in purchasing our new boat from start to finish. Have no doubts in dealing with Miles and his company.
