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Yacht started at $1 reserve.


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How the hell can you survey a yacht especially steel in an hour as stated in the advertisement? Is it just me or is this guy a spinner?

 

I'd put good money on it that the boat does not sell at this auction.

 

Doesn't the consumer acts guarantee apply here?

 

Of course if it goes cheap enough then it does not matter really.

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Doesn't the consumer acts guarantee apply here?

I maybe wrong, but as I understand it, no it doesn't. Boats do not come under the same trading laws as Cars do for a start. And in this Auction, it is stipulated "as is, where is". Plus, your bid also means you have read, understand and therefore have abide by the terms and conditions of the Auction.

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Traders name is Camstain1, maybe its a typo and it should be a u ?

 

:)

 

Looked through the feedback section on Trade Me.

 

seems very dodgy dealings are a specialty of his.

 

what I don't get is if it for sale on behalf of an estate why is there such a rush to sell it ?

 

$1 reserve ensures a quick sale but often at a very low sell price.

 

Boats are hard to sell and it can take a while but isn't the object to get the best price for the estate ?

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Maybe the people in line for the money are baying at the executors door.

 

It could be the family are trying to get rid of it quick because of the marina charges.

55 foot gets into the moonbeam price range in most marina's.

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I thought it was 55 ft too but I see it is only 50 , makes it a lot easier to find a parking spot. Does anyone know more about it, just makes you wonder if there is some nasty surprises waiting for an unsuspecting owner, if they wanted to get the best price you would think they would have a recent survey available to those interested? :?

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I agree ex TL, I would have obtained a 'general survey' to ensure a better price. Reality is the seller has named his sale conditions. You bid to a price you are comfortable with based on those conditions. If you are nervous that a 1 hour lift out time is insufficient to do a proper below waterline inspection then either (i) don't bid or (ii) take into account the risk in your bid price. If you look at the sellers feedback he does have some bad feedback - however most of it appears to be from buyers who have either wanted to do a post auction inspection or have had something go wrong with the car afterwards. The auctions have been on an 'as is where is' basis and inspections must be done before the hammer falls. There is a degree of skill and luck with such auctions - but you should always price in the risk. This isn't a new way of selling assets that need to be cleared in a short timeframe. I worked as an insolvency practitioner for years and we would always set the terms for sale - non complying tenders rarely got a look in, and you had to bid at auction on the terms specified. The thing the buyer controls is the price - no one forces you to bid!

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