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Selling a Boat in Africa

Old 01-08-2011, 12:58 PM
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Default Selling a Boat in Africa

Anybody ever do it?
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Old 01-08-2011, 01:47 PM
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I sold a 45 Cabo into Cameroon Afica.
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Old 01-08-2011, 01:53 PM
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Just make sure the wire hits your account before releasing the paperwork.
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Old 01-09-2011, 04:09 AM
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Sold a 46' Bertram to Nigeria last year (true story)
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Old 01-09-2011, 11:21 AM
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SCAM ALERT!

Solicitations from overseas, particularly Africa, are very frequently scams. Anybody offering to pay top dollar for a boat or any other item he has not seen in person should make you very suspicious. These scams are so common that there's a standard warning on Craigs List. You might also send an email to the American Embassy in the country the "offer" is coming from and ask them (consular section would be most appropriate) if they see a lot of scams.

Personally, I would just drop the matter, but if you want to investigate further, I'd contact the Embassy and then speak to your bank about how to structure payment. And when you speak to your banker, be sure they know that you're suspicious and want to have your bases covered. I have heard of cases where the check was supposedly credited to an account and then subsequently bounced.

I hate to sound negative, but I have to deal with the victims of this kind of scam on a regular basis.
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Old 01-09-2011, 12:54 PM
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Originally Posted by Ramblingman View Post
I hate to sound negative, but I have to deal with the victims of this kind of scam on a regular basis.

There is no way that a scam can be perpetrated on a seller if a wire transfer is used to convey funds into the seller's account.

No way they can be revoked, so the money is good.

Anybody know different???????
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Old 01-09-2011, 01:18 PM
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PIRATES NEED BOATS TOO.
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Old 01-09-2011, 01:32 PM
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makover469, thats just funny. They are getting payed off in some cases.
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Old 01-09-2011, 01:40 PM
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Originally Posted by bamaboy473 View Post
There is no way that a scam can be perpetrated on a seller if a wire transfer is used to convey funds into the seller's account.

No way they can be revoked, so the money is good.

Anybody know different???????
Theoretically, a wire transfer should be safe, but that isn't always the way it works out in real life. First of all, do you really want to be giving all your acct info (required for a wire transfer) to someone who may be a scammer?

As just one example of how people get scammed when thinking they have the protection of a wire transfer, I pulled this off the web:

Check with your bank whenever you arrange to receive a bank wire transfer before you send out your watch to a buyer.

Latest scam is that the buyer will claim to have sent you a wire transfer, you check the next day and see the money in your account and send out the watch. In a day or two the money disappears from your account and you've been taken.

What happens is that the 'buyer' does NOT use a wire transfer (which is safe for the seller) but instead deposits a bad or fake personal check into the seller's account using the account number given him for the wire transfer. Once the seller sees the money in his account he sends the watch. A few days later, the check bounces, the bank reverses the transaction, and the seller is left high and dry.

How to stop this from happening to you? Wire transfers are always marked as such in the transaction record, while deposits will only show up as a deposit. Call your bank to verify that the money deposited was sent via wire transfer, which is still absolutely safe. Otherwise, DO NOT send the watch, even if the deposit clears, for it can take months for a fake or altered check or money order to be discovered and reported to your bank.

Be careful out there!

Would you wire your own money to a stranger in Africa to buy a boat you haven't seen? Legitimate African buyers feel the same way about buying boats and other big-ticket items in America. I'm not saying all African buyers are scammers, but many of them are. Anybody with this kind of offer needs to go in highly suspicious. Thinking that you are somehow "protected" is exactly what the scammers want.
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Old 01-09-2011, 05:17 PM
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I wouldn't do it. I even have to think twice about all these people from Aussi Land trying to buy over here. I mean, Are boat prices that high in these countries??
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Old 01-09-2011, 09:31 PM
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Not to totally derail the thread, but WTH is up with all the Aussie buyers? Is their economy THAT good that they can afford to buy up our boats while we are in an economic rut so cheap that it offsets the cost of shipping? Ive had a few seemingly legitimate inquiries on my 26' Steiger from Down Under.
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Old 01-09-2011, 11:57 PM
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Yes boat prices are so high in those countries!
Add to that a weak dollar and the huge used market in the US where all types of boats are easily available, and it makes sense.
I live in the EU, and I also bought a new boat (dealer left over) in the States last year, and I saved at least 30% compared to buying over here!
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Old 01-10-2011, 02:20 AM
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Default overseas buyers

i agree with maguro, i also live in europe and the prices here are crazy
i have imported 8 boats in the last 18 months from the US and in each case have turned nice profit after paying freight, tax, duty etc
as we speak i have an other boat crossing the atlantic
its a small world we live in, so dont be afraid of any out of country callers, wire transfers are fine !!
for the record i am always on the lookout for 20-24 ft walk arounds at discount prices ( 05 onwards)
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Old 01-10-2011, 06:37 AM
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We've shipped 4 boats to Australia in the last 3 months. Great folks to do business with.
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Old 01-10-2011, 06:49 AM
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I sold my last boat to a buyer from Mozambique, S. Africa. He had a friend in the states who came and looked at the boat for him. He then sent his friend the funds who in return paid me. My first reaction when I heard from him was...SCAMMER!!! I's still be on guard though.
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Old 01-10-2011, 07:03 AM
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Originally Posted by maguro View Post
Yes boat prices are so high in those countries!
Add to that a weak dollar and the huge used market in the US where all types of boats are easily available, and it makes sense.
I live in the EU, and I also bought a new boat (dealer left over) in the States last year, and I saved at least 30% compared to buying over here!
If you are in Europe, I can understand, but the Dollar is about 2 cents cheaper when compared with the Aussie dollar. There's about a 30% spread with the Euro.
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Old 01-10-2011, 07:13 AM
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Originally Posted by Ramblingman View Post
Theoretically, a wire transfer should be safe, but that isn't always the way it works out in real life. First of all, do you really want to be giving all your acct info (required for a wire transfer) to someone who may be a scammer?

. Thinking that you are somehow "protected" is exactly what the scammers want.
You bring up good points, Rambling...and here's a way to avoid giving out your personal account information.

Most of us have a "contact" person at our local bank. The bank has it's own Routing Number, which is all you need to give a Buyer. That's ALL you need to give him.

You alert your contact to be on the lookout for an incoming Wire Transfer for $ XXXXXX....and to deposit that into your account when it hits the bank. In this way you are absolutely assured that the money came via Wire Transfer...and your banker is the only person that sees your account number.

They call you when the funds have gone into your account and you're safe...and paid.

According to my banker, all wire transfers must be deposited by end of business day, so the bank will not hold a wire because it doesn't have it's own account. You get the funds on the very same day they're wired.

That's how I do it. Thoughts?
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Old 01-10-2011, 08:28 AM
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I have shipped heavy equipment all over the world. Not everyday but I've had my share. Issues as simple as title transfer can be a little dicey. I had one buyer who wanted to use me as the exporter on the shipping documents four weeks after he paid for the bulldozer. I said no way I am not shipping anything it is yours. Issues like customs, import tax, insurance, shipping documents letters of credit, fuels and oils on the boat, compliance to height and size requirements by the shipping company to name a few can get complicated real quick And as far as the money transfer which is supposed to be a one way transaction "it is not" ask the bank when all the money can be withdrawn and not held against your balance? You may notice a crack in their confidence. I would consult with your bank regional rep not the teller or head teller and tell them exactly what you are doing and that you do not want to take any chances. Some of the overseas buyers would drive me nuts by sending a truck to pick up the item within an hour of the wire transfer at 3 pm on a Friday no less, I would never comply. Time is on your side. Why take a chance. Never been burnt yet. It is done everyday just exercise caution and proceed with caution.
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Old 01-10-2011, 08:36 AM
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I also export heavy equipment around the world. My best guess is that 8 out of 10 buyers from West Africa are not legit. It is pretty easy to spot the scams. Usually the legit buyers have a freight forwarder and have taken the steps to complete a sale and are agreeable with wiring funds. They understand that nothing is shipped until cleared funds are recieved in full. Beware of any buyer that wants to pay half and the balance "upon bill of lading".
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Old 01-10-2011, 08:57 AM
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Just sent two boats there and had no problems. Make sure you receive the wire transfer before boat leaves for the port.
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