Thursday, March 10, 2011

Offshore purchase

Here I am on Traveler with my broker Tom O'Neill.

We felt that the owner had dropped his price quite a bit to make the sale and he dropped it even further to account for the rotten rudder. But then again, we knew that there would be quite a few repairs to do on such an old boat with tired systems.

"They" say to be prepared to spend half again what you paid for a boat on outfitting it for sea duty. I hope it does not cost that much. I know the engine and exhaust will need a little work. The rudder and bottom will need some repair as will the through hull valves.

I scraped up all the cash I could find in my home equity account and sent the check off to San Diego. My broker Tom arranged for the owner and a pilot to meet him at the dock and they cast off for an offshore delivery. They took the boat out 3.5 miles beyond Point Loma and did the transaction there, completing the bill of sale and handing over the check. They recorded the GPS reading and took a picture of Point Loma in the background with a copy of the daily newspaper to prove the time and date. Thus I avoided paying California sales or us tax. Now I just have to be out of California waters in six months.

Thus begins the retrofit.  Oh man, what have I got myself in for?

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