The Essex-based broker is offering to take the stress out of buying a boat in Europe with its new second hand scheme
With the Euro floundering against the pound and many Mediterranean marinas stuffed with eager sellers, now might seem like a great time to consider buying abroad.
However, the language barrier is just one of a number of hurdles for an inexperienced boat buyer to clear and the whole process can be more than a little bit daunting.
So with all that in mind, Boats.co.uk has launched a new used boat-buying scheme that takes a lot of the risk and strain out of buying a boat in Europe.
Under the new service, buyers can pay an up-front non-refundable deposit of £1,000 for a Boats.co.uk broker to carry out a background check on the boat’s relevant paperwork. They will find out if it is under finance and ensure that VAT has been paid.
A European broker will then inspect the boat, take photos and shoot a video, all of which is then handed over to the potential buyer.
This can be repeated on up to two boats moored in locations across France, Italy, Spain, Greece, Portugal and Croatia before the buyer makes a final decision.
What do you pay?
Should the deal go through, Boats.co.uk will charge a final brokerage fee of 10% of the sales price plus VAT. In practice this would mean a total fee of €12,000 (minus the non-refundable £1,000 deposit) on a 100,000-euro boat.
James Barke, managing director of Boats.co.uk, argues that this scheme, which is believed to be unique in the UK market, unlocks a wide range of boats that are currently being offered for much lower asking prices in the Med.
“At the moment, you can find Princess, Sunseeker and Fairline models available for around 30% less than they would cost in the UK.
“With a weak Euro and a weak European market, it’s the perfect storm,” he added.
However, with currency markets prone to fluctuations, James warns that Boats.co.uk won’t be able to run this deal indefinitely, and so he expects to withdraw the offer in 6-12 months.