Why, Oh Why??

Why purchase a boat overseas?  They are often cheaper than can be found in Australia, which was certainly my case at the time I purchased Windjammer III.  In Nov 2007, we found in the British Virgin Islands a well-equipped seven year old fibreglass production yacht, 46’ long with relatively few hours on engine and generator.  And it cost me $USD115000.  The exchange rate (ever fluctuating) was brilliant at the time and this translated to about $AUD125000 – a real bargain.

On the Hard at Nanny Cay

Searching for the perfect boat took time – in fact, years**.  A number of possibilities cropped up; usually the timing was wrong (work reasons) or the “deal” was not quite as it seemed.  We spent a lot of time touring boatyards and going to boat shows locally – all in the name of research!  This helped us come up with an ideal boat profile and list of necessary inclusions for a “live-aboard” situation.  Hours on the internet, an ability to spot a sound boat (which also means a responsible salesperson) and having time to get to see it ASAP were important factors. Skype is a great way to talk to overseas sales staff cheaply. And talk we did….a lot!   

Having committed to the deal, we found getting funds “wired” to overseas bank accounts a bit of an ordeal initially, but once the process was in place we had few problems.  It helped to use the same bank branch and if at all possible, the same staff member to assist when moving money to overseas accounts.  Make sure you understand the implications of the business banking details.  We’ve had to transfer to accounts held in different countries, not necessarily to where the business operated (ie offshore accounts), adding to the complexity of the transfer.   

We were also lucky enough to buy at a time when the exchange rate was favourable. If the market is fluctuating, it may be worth waiting to pick up really good bargain.  

Into the Dragon's Mouth, Trinidad

**We came up with the live-aboard idea after holidaying in Phuket, Thailand.  The First Mate was keen to live (permanently) in Phuket and had done much research to this end.  One fine day she & I did the marina rounds (as you do to view harbour-side apartments) and came across an interesting couple busily doing maintenance on their yacht.  Kindly they told us their story.  In essence, they had sold their house and lived on board for many years.  They kept an old car in the marina to enable them to shop and travel.  Living was inexpensive and as a bonus they found it cheaper to fly the family out to Thailand than to travel home (paying travel & accommodation costs etc.).  So the seed was sown….