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Boat Market Sinks

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Just a little anecdote to add to this.

My sister in law and her boyfriend were living on their restored 60ft wooden fishing boot, dry-docked in London. They missed several payments for dry-dock fees and the boat was confiscated under marine law.

Cost them £60+K. Oops.

VMR.

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I dealt with marine mortgage repo's during the last recession and much fun it was! People seem to think that if you sail to the Med you can't be found. You will be found and the gorillas sent by the debt collectors will outbid you with the local harbour authorities to get the boat back.

And as for sinking the boats for insurance that is soooooo last recession...

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They ae not selling at the moment. I know someone with a very nice 30 odd foot Catamaran. It's been up for sale for months, and despite being 'keenly' priced, he's had nothing but dreamers and chancers enquire. As it's sale is partly whats funding his move to Canada - oh dear :(

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They ae not selling at the moment. I know someone with a very nice 30 odd foot Catamaran. It's been up for sale for months, and despite being 'keenly' priced, he's had nothing but dreamers and chancers enquire. As it's sale is partly whats funding his move to Canada - oh dear :(

surely he should just save a few quid and sail it over...

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But only a couple of months ago, a boat builder was on Midlands Today saying that he was taking on extra staff because business was booming, even in the face of the credit crunch :unsure:

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Guest sillybear2
And as for sinking the boats for insurance that is soooooo last recession...

"The good boat 'British Economy' went under today"

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I posted a few months ago about the number of very expensive boats being for sale in Swansea. Someone pointed out that it was probably cheaper to berth the boats in Swansea than in, say, Southampton.

Anyhow, I was walking through Swansea marina yesterday and went past one of those boat shops - chandlers? It caught my eye because in the window were loads and loads of details of various boats for sale... and across an awful lot of them, in red, was the word 'Reduced'.

Go figure ;)

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Guest Mr Parry
http://www.msnbc.msn.com/id/25691314/

"They're going to hang on to the car, they're going to hang on to the house. But they're going to give up on the boat," said Hedrick, whose employer has doubled its staff in two years to 85 repo agents so they can meet demand from the banks and lenders.

Once heard boat ownership described as "Standing on a dock, ripping up tenners".

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I dealt with marine mortgage repo's during the last recession and much fun it was! People seem to think that if you sail to the Med you can't be found. You will be found and the gorillas sent by the debt collectors will outbid you with the local harbour authorities to get the boat back.

And as for sinking the boats for insurance that is soooooo last recession...

The trick is to buy one of these:

http://www.maritimequest.com/warship_direc...lass_firing.jpg

Negotiating with debt collectors is so much more cordial when you have 9 16" guns pointing at them. Remarkable cheap to moor and refuel as well..

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Just a little anecdote to add to this.

My sister in law and her boyfriend were living on their restored 60ft wooden fishing boot, dry-docked in London. They missed several payments for dry-dock fees and the boat was confiscated under marine law.

Cost them £60+K. Oops.

VMR.

Incidents like that, which can only be blamed on one's own stupidity, take a lifetime to get over.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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