SCAM ALERT

We have heard from a number of our clients who are selling their boats
privately as well as with www.antiqueboatamerica.com of individuals who
attempting to scam sellers of their boats through PHONY CASHIERS CHECKS !!

Here is how it appears to be perpetrated.........

An individual usually from a foreign country responds to an ad for your
"Boat for sale". The party offers to buy the vessel for the full asking
price and offers to send a cashiers check as payment PLUS an additional
amount which is intended as a loan payment of shipping fee. The person now
buying the boat later asks that the excess funds be sent back to himself or
to this third party. The cashiers check is presented at your Bank and
initially accepted but after clearing this foreign bank will be returned as
non- negotiable or bogus !!

Some warning flags to look for are.....

1. The inquiring party asks very few ( if any) questions about the boat
itself as to it's condition, etc.

2. You are immediately offered the FULL asking price for the boat or very
close to it.

3. A sense of urgency is conveyed in having this transaction completed as
soon as possible.

4. Typically the third party requires their funds very fast for any variety
of reasons.

There are REAL buyers from outside the country and if you are going to
accept an offer, ensure that you take the check to your local bank to verify
it's authenticity and ensure that they confirm that the funds are available.
Most financial institutions will require 10-15 business days to clear the
funds and it is critical to wait until the bank or financial institution
informs you that the money has cleared. An honest buyer will not mind the
delay and will understand your desire to be cautious and prudent.


Scammers are also beginning to slightly vary their tactics buy requesting
account information such as routing numbers and bank account numbers so as
to ( supposedly ) wire transfer funds. DO NOT provide these parties with any
information without first checking with your financial institution. Also
scammers have offered highly sought after boats for sale at unheard of
prices or asking prices too good to be true. The scammer usually is using a
Yahoo or MSN account number and instructs the buyer to wire the funds or a
deposit in order to hold the boat.

Unfortunately it would appear that scams like this are very hard to control
and police and while the parties may one day be caught YOU do not want to be
involved with having your monies amongst them. We are offering this
information as a way of protecting YOU and our clients from this type of
fraud and stress that you use extreme caution when faced with a potential
transaction like the one described above.

We humbly suggest that using a experienced broker may help in identifying
situations like these and Antique Boat America has devised a strategy for
spotting and dealing with potentially fraudulent situations to ensure our
clients are protected.

Should you have any questions, concerns or similar experiences that you
would like to share, please contact Peter Mellon at Antique Boat
America.com. He may be reached via email at     peter@antiqueboatamerica.com
or directly by phone at   613-720-0449   extension 609. he may also be
reached after hours and on weekends on his cell phone at 613-720-0449.