BST: Question about Gifting for referral of sale?

[Scott E. Bulger]

I have a question that I can't think of as appropriate for any other forum,
so I'll ask those of you on this list to comment.

 

I'm currently selling my 40' Nordhavn.  I'd like to get the word out and I'm
perfectly willing to pay a reasonable "gift" in appreciation for finding a
buyer.  I have considered using the language below to make people aware of
this "gift".  Can anyone think of any reason this would be a problem?  As
far as tax laws go I can gift anyone $10,000 without paying taxes on it.
Since I'm not entering into a contract with anyone and I'm retaining the
right to give or not give the gift, I can't see how this could be considered
"pay" or commission for assisting with selling the boat.  All it is is me
saying, "hey I'm really happy you told someone about my boat being for sale,
so here, take this!"

 

Here is the proposed language:

 

Referral Gift:  Given there are three major boat shows in the coming month,
the owner of Alanui will gift $10,000 to any person who refers a successful
buyer for Alanui.  The gift will be made to only one person who has provided
the lead either directly to the seller, or who has told the prospective
buyer to mention their name.  The gift will be made directly to the person
in the form of a cashier's check or bank wire.  The gift is a token of
appreciation for encouraging others to consider Alanui for purchase.  Since
this is a gift it will not be reported as income, nor will any taxes of any
sort be withheld.  The seller reserves the right to be the sole determinant
of who receives the gift.  

 

 

Finally, I'd be willing to give this to anyone, Joe Blow, someone who works
for a broker, anyone.  I'd simply use the first point of contact to
determine who really provided the potential buyer and make the gift directly
to him or her.  Anyway, am I crazy, or is this opening up a real can of
worms?

 

Scott Bulger, Alanui, N40II, Seattle WA

 

www.nordhavn40forsale.com or

www.alanui.talkspot.com