A train guard accused of murder told police he bought a luxury boat for his wife as a surprise birthday present, a court heard.
David MacBride, 44, who earnt £18,000 a year working for a rail company, is accused of battering to death Robert Saint, the owner of The Sundowner, a 42ft motor cruiser.
During a trial at Lewes Crown Court, MacBride, of Bramber Close, Bognor, has denied murdering the 70-year-old widower.
The prosecution alleges MacBride killed the wealthy businessman on board the boat and dumped his body in the sea.
Jurors heard that the two men met last summer because MacBride wanted to buy the boat, docked at Birdham Marina, near Chichester, which was on the market for £125,000.
Mr Saint, a former timber yard manager, of London Road, Steyning, disappeared on September 26 last year after he went to meet MacBride to finalise the sale after the train guard's cheque to buy the boat bounced.
His badly beaten body was discovered by a fossil hunter ten days later on an Isle of Wight beach.
Two days after Mr Saint, known as Captain Bob, disappeared police were alerted by staff at Itchenor Marina after MacBride tried to get from the jetty to The Sundowner, moored to a visitor's buoy.
Sergeant James Trafford told the jury he went to the marina to question MacBride, who said he had had bought the boat two days earlier from Mr Saint and paid him £119,000 cash in £50 notes.
The officer said MacBride told him the two men sailed to Portsmouth where Mr Saint, carrying the cash in a holdall, left The Sundowner to visit friends.
He said MacBride told him Mr Saint agreed to sail with him because MacBride said he did not know much about boats.
Sgt Trafford said: "He told me Mr Saint had watched him turn the boat around and he watched him walk away.
"I said that £119,000 was a lot of boat for someone who doesn't know much about sailing. He said the boat was a surprise birthday present for his wife."
MacBride, who had debts of £75,000 at the time, later told detectives he found £120,000 cash in a bag while working on a train to London four months earlier. He used this to pay for the boat.
The court heard forensic scientists later found traces of blood on a carpet in The Sundowner's galley and arrested MacBride on suspicion of murder.
The trial continues.
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