Importing from the US

I'm a Canadian citizen living in Vancouver B.C. It was pointed out to me
by a charter operator that all boats (sailboats anyway) are sold in
American dollars and that most Canadians are trying to sell older
sailboats for more than they go for in the states. A quick google seems
to prove this true so I've trying to find out in advance what paper work
and taxes apply.

-BB

quizzling wrote in


> Just curious, are you a us citizen and trying to sail under a Canadian
> flag? If you were leaving for around the world or something that would
> probably be an advantage, right?
 >> Stay informed about: Importing from the US 

I don't know about all sailboats being sold in U.S. dollars. I think
someone is trying to make an extra 15%.
Buying a boat in the U.S. can be done but make sure that you cover all
of the bases, such as:

-Make sure that you go through a broker in the States to ensure there
are no liens and that the paperwork is done properly.

-Use a Canadian customs broker to make sure you have all of the
paperwork for Canadian Customs

-If the boat was made in the U.S. or Canada and you have proof of same
then you will only pay GST and if B.C. has provincial tax you will also
pay that.

-If the boat is on a trailer you may need to talk to your motor vehicle
bureau in B.C. and see what they have to say.

-Make sure that the boat you buy is absolutely clear and free of
anything. It may be worth your while to investigate the history of the
boat and who has owned it.

-I know of one story where a boat was sold through a broker and there
was a lien. Very, very messy! The new owner I think wound up paying
the lien.

That is how I did it and there were zero problems and yes using a U.S.
boat broker and a Canadian Customs broker add dollars but then you know
that everything is nice and legal and there won't be any problems.
Peter


BoaterBob wrote:
> I'm a Canadian citizen living in Vancouver B.C. It was pointed out to me
> by a charter operator that all boats (sailboats anyway) are sold in
> American dollars and that most Canadians are trying to sell older
> sailboats for more than they go for in the states. A quick google seems
> to prove this true so I've trying to find out in advance what paper work
> and taxes apply.
>
> -BB
>
> quizzling wrote in
>
>
>> Just curious, are you a us citizen and trying to sail under a Canadian
>> flag? If you were leaving for around the world or something that would
>> probably be an advantage, right?
 >> Stay informed about: Importing from the US 

Thanks Peter, I hadn't thought about using a Canadian customs broker.

As to boats being sold in American dollars and Canadian listed boats being
over priced, here's how it was explained to me.

The American market is huge. The Canadian market is mice nuts in
comparison therefore all other factors being more or less equal the
American market and the exchange rate determine price.

The average boat owner in the lease charter business keeps his/her yacht 3
- 5 years.

The typical depreciation of a sailboat from new is 30% in 3 years, after 3
years it will depreciate much slower. A power boat will depreciate 40 - 50
% in the first 3 years due to wear on expensive mechanical parts.

If you bought your boat 3 - 5 years ago with a 65 cent dollar and go to
sell it now at an 85 cent dollar your boat has depreciated 60% not 30%.

Brokers of course list boats at what the market will bear. It may be that
Canadians are used to paying high boat prices.

If you pick a couple of popular models and do a google search (try a
Nonsuch 26 or 30 or a CC 27 m4 or m5) and compare asking prices after
conversion the Canadian price is often higher by 10 - 50%.

I started looking 6 months ago and I have noticed some deals in the States.
Unfortunately I've missed the ones in Washington State in my price range.

BB


hal1401 wrote in


> I don't know about all sailboats being sold in U.S. dollars. I think
> someone is trying to make an extra 15%.
> Buying a boat in the U.S. can be done but make sure that you cover all
> of the bases, such as:
>
> -Make sure that you go through a broker in the States to ensure there
> are no liens and that the paperwork is done properly.
>
> -Use a Canadian customs broker to make sure you have all of the
> paperwork for Canadian Customs
>
> -If the boat was made in the U.S. or Canada and you have proof of same
> then you will only pay GST and if B.C. has provincial tax you will
> also pay that.
>
> -If the boat is on a trailer you may need to talk to your motor
> vehicle bureau in B.C. and see what they have to say.
>
> -Make sure that the boat you buy is absolutely clear and free of
> anything. It may be worth your while to investigate the history of
> the boat and who has owned it.
>
> -I know of one story where a boat was sold through a broker and there
> was a lien. Very, very messy! The new owner I think wound up paying
> the lien.
>
> That is how I did it and there were zero problems and yes using a U.S.
> boat broker and a Canadian Customs broker add dollars but then you
> know that everything is nice and legal and there won't be any
> problems. Peter
>
>
> BoaterBob wrote:
>> I'm a Canadian citizen living in Vancouver B.C. It was pointed out
>> to me by a charter operator that all boats (sailboats anyway) are
>> sold in American dollars and that most Canadians are trying to sell
>> older sailboats for more than they go for in the states. A quick
>> google seems to prove this true so I've trying to find out in advance
>> what paper work and taxes apply.
>>
>
 >> Stay informed about: Importing from the US