An Ethical Dilemma. What would YOU do???

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What would YOU do?

A few weeks ago I visited a motor yacht that I could not possibly name publicly, for reasons that will become clear in a moment.

The yacht is about one year old, but the owner has been unable to use it since delivery due to it’s numerous problems and design faults. The shipyard that built the yacht are no longer willing to honour the warrantee, so in an act of desperation the owner took it to another shipyard, where it has been worked on for nearly one year.

I was supposed to go out to sea on the yacht when I visited, but unsurprisingly it suffered a total power failure and we were unable to leave port.

The Captain explained to me that he had urged his Boss to not buy this particular yacht due to the inexperience of the shipyard in building yachts, some bizarre design decisions on the vessel, and the unrealistic low price that he was paying.

The Boss did not listen, and as a future yacht broker you will discover that this is often the case. Yacht buyers often trust their own judgement even over an experienced yachting professional and usually regret it!

But what would you do if your client simply refuses to listen to your best advice to avoid buying a certain yacht?

I know of many brokers who really don’t care and just want to make a commission on the sale.

I know of some brokers who simply refuse to be involved in the transaction and lose the commission.

I once met a broker who asked his client to sign a waiver stating that he was buying the vessel against the advice of his broker.

But again I ask, “what would you do?” Which broker would you be? Is there another way of handling this ethical dilemma? Do let me know your thoughts.