Yacht Traders

[Mike J]

I have recenty been contacted, (cold called), by a firm called Yacht Traders with a view to selling my time share. They came back to me with an offer of �10,000 for my 2 weeks at Hollywood Mirage. The sales pitch is the same as HAB and ILG. (see previous postings). They have a buyer, a credit check has been done and the buyer will put down a 10% deposit. Now here's the catch, They want �495 for admin and legal fees. (Just like HAB). They say they can't proceed till it is paid. I said they can pay it up front and take it out of the proceeds. They say that's not legal. This just sounds like another scam so I am going to tell them NO THANKS. It would be nice to think some idiot would pay �10,000 for the 2 weeks but we all know that you can open up any paper and see timeshare weeks for �1,000 and that's only if you are very lucky. I mentiioned this to the "SALESPERSON" and the reply was that those were clawback weeks. So why don't the clients buy these? Guess what "No reasonable answer" surprise, surprise!!! Has anyone else heard of these people??

[Fred 2]

Copied from Timesharetalk - "Yacht Trader - Selling your Timeshare" thread -

"The Yacht Trader is yet another scam of the poisonous dwarf, TONI MULDOON. He runs this alongside T-One Ltd, T1-online.net, Med Leisure, Liquid Properties."

[paulx]

Yet another scam typified by the small print on the back of the form they send. This is to the effect that in the event of there being a buyer then I would have to part with �495 + VAT in advance of payment etc etc blah blah blah ........ heard it all before. Then surprise suprise a 'corporate buyer' is prepared to offer �7,900 for my two weeks - yeah right! If he does pull out for some unforseen reason (and he will, despite the assurances) I wont get my money back but I will be entitled to a year's free marketing and my money back if I do not receive another suitable offer (sound familiar? Yes, just like HAB and the rest!) Steer well clear and dont be fooled by this; when I said 'no' to the caller she was distinctly off and said it was my loss etc. and that tey would take it off the website. Wonder how they got my telephone number in the first place? :thumbdow: oh one other thing - what's different about this company (nothing of course) but they say that they are based in the UK as opposed to those dispicable scammers in Spain, Gibralter etc. So that makes it ok then ......! :icon_grrs

[Silvagal]

Silvagal
Further to the experience of Mike J. We were planning to sell our 2 timeshare weeks when we were cold called by a very personable lady from Yacht Traders. We put one of our weeks up for sale, as she convinced us that she represented a genuine UK company and she emailed us the details. She increased the asking price, which surprised us. I had recently spent quite a while in hospital and was not as probing, perhaps, as I would usually be.
After quite a short while, we were informed that a buyer had placed a deposit and would complete in 13 weeks time. We wondered why this "eager" buyer was willing to wait 13 weeks, however, we paid the �495 legal fees and were told that a courier would collect the paperwork, when the deal was done.
A few weeks later, we were contacted again with a form to fill in, giving our bank account details "as this would be the quickest and safest way to transfer the money to us" I reminded her that she was a stranger, who had cold called us and that I was not willing to reveal these details, prefering to be paid by cheque.
I rang after 12 weeks to enquire about the sale and was told that it was not 13 weeks yet so nothing was finalised. A few days later, I received an apologetic e mail explaining that the sale could not be completed "for reasons beyond their control". The Timeshare would be kept on their books and advertised vigorously through their associated companies.

[Silvagal]

Silvagal
Further to the experience of Mike J. We were planning to sell our 2 timeshare weeks when we were cold called by a very personable lady from Yacht Traders. We put one of our weeks up for sale, as she convinced us that she represented a genuine UK company and she emailed us the details. She increased the asking price, which surprised us. I had recently spent quite a while in hospital and was not as probing, perhaps, as I would usually be.
After quite a short while, we were informed that a buyer had placed a deposit and would complete in 13 weeks time. We wondered why this "eager" buyer was willing to wait 13 weeks, however, we paid the �495 legal fees and were told that a courier would collect the paperwork, when the deal was done.
A few weeks later, we were contacted again with a form to fill in, giving our bank account details "as this would be the quickest and safest way to transfer the money to us" I reminded her that she was a stranger, who had cold called us and that I was not willing to reveal these details, prefering to be paid by cheque.
I rang after 12 weeks to enquire about the sale and was told that it was not 13 weeks yet so nothing was finalised. A few days later, I received an apologetic e mail explaining that the sale could not be completed "for reasons beyond their control". The Timeshare would be kept on their books and advertised vigorously through their associated companies.[/QUOTE]

[Starsky]

Has anyone succeeded in contacting this dodgy outfit recently. Phone numbers for "offices" in London and Manchester have gone dead and e-mails go unanawered.

I have rather written off my �495 but would like the satsfaction of giving someone a piece of my mind on the subject!

[Fred 2]

Listed for striking off, but there is information about them and the new company which is now doing the same thing. Would you like to e-mail fred-too@hotmail.com?

[orville]

Derek I did part with the administration fees unfortunately. I was offered a subscription with another company Full Circle Holidays as they could not sell my timeshare within the year. I also have another letter which i am going to send Yacht Traders a copy off, saying if they have not sold my timeshare within the next twelve months then I can have my fees back. This is dated Nov 2006. If I here nothing from them I will get on to my credity card company and see if I can get the fees back through them..
Another small incident in case anyone has had the same, a television set was bought from Currys using our Credit card details. The buyer was a Mr Yacht trader. When I phoned the office in London(yes someone did reply) they said that they had a break in and credit card details had been stolen. My bank refunded the money to my account but I never heard a thing more from Yacht Traders maybe another scam to watch out for!

[Fred 2]

Orville

When is your contract with Yacht Traders dated? Can you confirm that it is with Yacht Traders and not Yacht Trading (UK) Limited?

[orville]

orville
The letter confirming that i will have a reimbursment in 12 months time comes from Yacht Trading UK Ltd. The sentence I am looking at states "If no sale has been acheived within this time scale (i.e.12 months) then as per our agreement, a refund of your legal and administration fees will be issued." this is signed Derek Freeman.