Buying or Selling through a Yacht Broker
An introduction to the role of a yacht broker
We have produced guidance on dealing with a yacht broker. This has been written as a guide for RYA members when dealing with yacht brokers as either buyers or sellers, and it covers the questions and problems most commonly raised with us by our members. If you are considering placing your boat with a broker or buying a boat through a broker but you are not sure what this involves or you are in dispute with a broker, then you should read this guidance.
Buyers should also read our guidance entitled Buyer Beware, which runs though the basic points that you should check if you are buying a boat privately. The broker should cover most of these for you, but being familiar with the basic procedure will go a long way to helping the buyer stay on top of what the broker is doing, or is not doing. Remember, the broker is acting for the seller not for the buyer, and the onus is on the buyer to ensure that he or she knows what he or she is buying.
We have also produced guidance on dealing with the payment of purchase monies.
Buyers will also need to be aware of the rules regarding VAT and the Recreational Craft Directive. If the boat you are buying was put into service after the 16th June 1998 then the Recreational Craft Directive may apply.
If you have any further queries regarding yacht brokerage contact the Legal Team on 023 8060 4223. Email: legal@rya.org.uk