Overseas boat ‘bargains’ hurting Australians with hidden costs

by Multihull Solutions on 6 Dec 2011 Industry leader, Multihull Solutions reports a shocking increase in stories of people being stung by the pitfalls of purchasing alleged ‘bargain boats’ from overseas.

Multihull Solutions director Richard Kilburn said that, while attracted by the idea of nabbing a ‘cheaper’ pre-owned boat on the international brokerage market, many people have seen their dreams fall apart when confronted with the reality of unforeseen handover issues and unexpected costs.

'The GFC has made the asking price for a boat overseas seem initially attractive, but many buyers aren’t aware of the huge costs involved in getting it home,' Richard said.

'There are usually a mountain of challenges that present themselves as soon as the boat has been purchased,' he said.

Among the extra expenses a buyer faces are the ‘real’ costs of travel, the cost of replacing old equipment, and also purchasing additional blue-water equipment such as watermakers, radar, HF radio, sat phones and modems which are required for undertaking extended passages. There are also numerous problems that surface throughout the process including the complexities of moving a boat thousands of miles, the risks of offshore purchasing processes, managing breakdowns and dealing with language translation difficulties.

'By the time the buyer gets their supposed bargain home, they’ve blown their budget and are typically embittered by the experience,' Richard said.

Multihull Solutions is warning people to speak to Australian experts before rushing in to purchase a pre-owned boat from overseas.

'Recently, we’ve listed for sale several boats for clients who have been disappointed by their experience of buying overseas. They have finally managed to get their boat home but can’t afford to keep it,' said Richard.

'They realise they could have saved a lot of trouble and money by researching the database of brokerage boats available in Australia and New Zealand.'

Multihull Solutions has a specialist Brokerage Division that is dedicated to sourcing high quality pre-owned multihulls for clients who want to avoid such pitfalls.

'Our first priority is sitting down with the client and getting to fully understand what they are looking for in a boat and what their budget is,' said Richard.

Multihull Solutions has an extensive listing of quality pre-owned brokerage boats from all over Australia and New Zealand, ranging in size and style to suit almost all budget. The award-winning company has rigorous criteria for listing brokerage boats, ensuring they only agree to sell top quality pre-owned catamarans from a range of manufacturers that are realistically priced to meet the current market conditions.

'We aren’t interested in selling dodgy boats for inflated prices,' Richard said.

If the client decides to proceed with the purchase of a boat, Multihull Solutions helps negotiate a smooth transaction, assist with the survey stages and HIN searches, and even arrange competitively priced shipping and insurance as required.

'Not only can we find great buys on pre-owned boats, but the strong Australian Dollar means clients can even choose to purchase a brand new 11metre catamaran with great inventory from a world-leading manufacturer for under AUD$250,000,' Richard said.

Multihull Solutions has full Marine Queensland Brokerage accreditation and offers absolute security and peace of mind for clients with all deposits held in local trust accounts, which eliminates the dangers of trusting unknown overseas agents.

'Our client base is strong and loyal because they understand that we represent their best interests and want to see them fully enjoy the experience of boat ownership,' he said.

'We believe that our sustained growth and business success in these challenging times has been due to our willingness to listen to our clients and offer impartial advice and support to help them realise their dreams.'

Richard Kilburn described the past year as volatile yet dynamic, with Multihull Solutions diversifying its operations to accommodate the impact of the GFC on sales trends.

'It’s certainly been an interesting period; the GFC and spate of regional natural disasters had a big impact on the greater marine industry, slowing down the traditional buying cycles,' Richard said.

However, the strong Australian Dollar has been a driving force behind Multihull Solutions’ impressive year of record sales in new and brokerage boats over this period, with the exchange also prompting more clients to request ex-factory deliveries to save even more money.

Further information can be obtained by contacting Multihull Solutions in Australia on 1300 885 338, or New Zealand on 0508 MULTIS, emailing info(at)multihullsolutions.com.au or visiting the website at www.multihullsolutions.com.au.