Some owners accept the situation and sell on, others reappraise their actions upon learning that their ‘investment’ is not worth what they paid months before. They instruct lawyers who instruct surveyors to identify defects.

All craft will have them and, if present in sufficient quantities, they justify the craft’s rejection under the Sale of Goods legislation, obliging the supplier to risk litigation and poor publicity or accept the vessel back and the inevitable loss on its re-sale.

Evidence suggests that up to 10% of all larger motor yacht sales this year will result in rejection within 12 months. This trend is increasing.

Agents working on tight margins and selling ever larger and more expensive vessels are now in financial risk. Few can finance the rejection of a £1m vessel or will have secured an appropriate enforceable contractual indemnity from their suppliers, many of whom will be overseas.

There are no easy solutions.

The law will not change and the public demand for cheaper but increasingly complex craft makes production of fault free vessels an unrealistic short term expectation. Perhaps the industry should manage buyers’ expectations better?

Restrained and realistic advertisements, and brokers’ recommendations that first time purchasers buy smaller vessels (or to charter) will undoubtedly reduce sales, but the resultant informed purchasers will reduce the incidents of rejection and secure many future orders as experienced owners progressively trade up.

That may be a price worth paying for the industry.