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55 Hatteras Convertible

  • Thread starter Thread starter turner
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Thats IT!
 
Yeah, no doubt that's it. I was tempted to send an email to the listing broker to see if he knew what was going on with this boat, but I didn't.

Turner and foleyjt have logged on recently and neither has commented about where this thing is. I certainly have no personal interest in this, but I would be curious as to the outcome as this took place on an eBay auction. It should make for an interesting precedent.
 
So here's the latest on MATERIAL GIRLS, at least from my perspective. Case is pending, first Court date coming up in mid-February. Maybe the best way to reach out to Yale is through this site, as I seem to get no other response from him. Get in touch with me, or better yet have your attorney get in touch with me, the longer you run the more this will cost. I have spoken to the broker from Gilman and he is not the listing agent on MATERIAL GIRL, said that is a Yachtworld listing and it is not a new listing.

If there is any interest, I can link a copy of the lawsuit.
 
Heck, I'm not bashful, I'd love to see a copy of the suit. Outside that it seemed interesting that the broker chose to delete the name of the boat if this was in fact a pick up of a prior listing.

I really hate to see you guys get caught up in all this legal crap and wish the best for both of you. Hopefully Turner will have some kind of recourse with his broker if he is in fact the party responsible for the eBay listing.
 
Guys:

Why on earth are you fighting over this boat? I had this happen to me in November with the big repo auction house in Florida. They told me I won the auction for a Hatt 53 and then sold the boat out from under me. Had the top Admiralty lawyer in the business try to straighten it out. He did but the whole thing became such a mess, I told the auction shop that I had not intentions of ever doing business with them. Best decision I ever made.

Regarding Gilman,if it was a mistake by the broker who did not properly list a reserve, he is responsible. Gilman is licensed in Flordia, they are bonded and have insurance. Their insurance company will not doubt be paying up to settle this.

These things will take a year or two to sort out. The Federal Courts have very croweded dockets. What kind of shape do you think that boat is going to be in when you finally get it? You two boys should settle this thing and move on.

Spin
 
spindrift said:
Regarding Gilman,if it was a mistake by the broker who did not properly list a reserve, he is responsible. Gilman is licensed in Flordia, they are bonded and have insurance. Their insurance company will not doubt be paying up to settle this.

Spin
Click to expand...

I would bet that very few brokers have "errors and omissions" insurance. It is cost prohibitive.
 
This seems pretty cut and dried to me. If Turner authorized his broker to place a no reserve auction on eBay, he's out of luck. If he didn't, then the broker is out of luck. Either way, Foley wins.

If I were a broker, I would have it in writing if a customer told me to forget about my contract and just get whatever it will bring on eBay. I'm betting that didn't happen.

Turner, you sold your boat to Foley. Sue your broker for the difference in his winning bid and your reserve (less his commission) and you're where you wanted to be in the first place. You win, Foley wins, the broker loses... as it should be. Unless of course we don't have the whole story here.
 
Just a point of clarification. Gilman was not the broker involved in the ebay transaction. Yacht Management Group Inc, Samir Jaber out of Stoneham MA was the broker. Gilman as far as I know has never had the listing on this boat, they are only tied in through Yachtworld, the MLS of boats.
 
thanks everyone, the boat sold and at a fair price.
 
So what happened with the lawsuit?
 
Was that fair price north of 200K?
 
saltshaker said:
Was that fair price north of 200K?
Click to expand...

I seriously doubt it because the admitted bottom/reserve was $195k and it "sold" on ebay for $135k so no matter what happened with the lawsuit the deal was still in the $1's. After all the trouble it was to convince Turner to drop the price from $399k down into something in the $2's and it ends up selling in the $1's. Anyone look to see if it's on SoldBoats? Oh well, at least the boat is gone and that's what Turner really wanted.

What a ride!
 
Its not on SoldBoats, is still active on YW with 4 different brokers though.
 
THE CONTINUED SAGA OF MATERIAL GIRLS

If the boat sold its news to me, and its certainly news to the United States District Court. As far as I am concerned everything is status quo, I bought the boat for $135,000, and Mr. Turner and his broker Samir Jaber better hope the boat is there when this is done, or if not I am in the market for the most expensive 1987 55' hatteras on the market, and I think I have found it.

Thank you Yale!

JTF
 
1974_eating_popcorn.gif
 
This is indeed an interesting case. Ebay is a great sales tool but you have to know how to use it. It looks like the broker made a mistake when he listed it and now the seller and his agent are obligated to continue with the sale.

Please let us know what the court thinks about this.
 
I dont think the buyer can make this one stick.. then again I'm not an attorney....
 
I feel sorry for everyone in this deal, except the broker. I even feel sorry for myself because I'm looking for a beauty exactly like Material Girls.
 
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