Q: What is the price for Masala?

A: $ Now sold

When we were looking to buy our steel yacht we were horrified at the run-down old boats being put on the market at ridiculous prices. And it was almost impossible to find any decent hull from the 1990s or 2000s. The facts of life are that steel yachts are not made on production lines, they are all commissioned and hand built. Not many people have the funds to go down this path, hence the lack of good, recent, second-hand steel yachts. We are confident that you will not find a better or more realistically priced modern steel yacht on the market.

For Sale [now sold]

Q: Given Masala’s Radford design pedigree, her relatively young age, and her extensive features and equipment list, how come her price is so modest?

A: Short answer: GFC. Long answer: We believe it is better not to artificially pad out the price to allow room to be bargained down as this leads to unrealistic listing prices and wastes everyone’s time. Serious sellers pitch the price of their boat to make it irresistible to buyers—then the boat sells itself. Last time we sold Masala we had a signed contract on the first day she went on the market, and over the next two weeks we had three people wanting to buy her. One of them did. Masala’s current price is even more attractive than then.

Q: Why are you selling Masala yourself, rather than through a broker?

A: There are two reasons. The first is that in a challenging market it allows us to keep the price as low as possible. An equally important reason is that we believe no one is better qualified than us to sell Masala—no broker, no matter how conscientious, can possibly know the boat the way we do. We have a lot to offer the buyer, both before and after the sale, in terms of knowledge and assistance. We have always ended up making good friends with the people we have bought and sold yachts from. This helps to make what can be a stressful time as enjoyable as possible. We have successfully conducted private sales/purchases before and found the process very rewarding.

Q: How is a private sale conducted?

A: The same way it would be through a Broker, except for two differences that ensure the security of all parties. The first is that we only require a deposit of about 1% of purchase price, not 10% as required by a Broker. The second is the settlement process, which is different because we do not have access to an escrow account. Instead, buyer and seller meet up at a branch of the buyer’s bank. The buyer inspects the seller’s paperwork and establishes that all necessary documents for transfer  of ownership are present and correctly signed. The buyer then instructs their bank to make an instant telegraphic transfer of funds to the seller. The seller verifies on the spot that the cleared funds have been received, then hands over the paperwork and the keys to the vessel to the buyer. Simple, easy and safe. Buying through a Broker gives you no additional protection as the Broker is acting solely as an agent for the seller.

Transfer of ownership in Masala is secure because Masala is an Australian registered vessel with a legal title certificate from the Australian Shipping Register—unlike a boat with State registration only, which does not give legal title.