Index: /trunk/src/VBox/Frontends/VirtualBox/src/manager/UIVirtualBoxManager.cpp
===================================================================
--- /trunk/src/VBox/Frontends/VirtualBox/src/manager/UIVirtualBoxManager.cpp	(revision 88470)
+++ /trunk/src/VBox/Frontends/VirtualBox/src/manager/UIVirtualBoxManager.cpp	(revision 88471)
@@ -2580,5 +2580,13 @@
     if (strTmpFile.isEmpty())
     {
-        QString strBaseFolder = comVBox.GetSystemProperties().GetDefaultMachineFolder();
+        QString strBaseFolder;
+        if (currentItem() && currentItem()->toLocal())
+        {
+            QDir folder = QFileInfo(currentItem()->toLocal()->settingsFile()).absoluteDir();
+            folder.cdUp();
+            strBaseFolder = folder.absolutePath();
+        }
+        if (strBaseFolder.isEmpty())
+            strBaseFolder = comVBox.GetSystemProperties().GetDefaultMachineFolder();
         QString strTitle = tr("Select a virtual machine file");
         QStringList extensions;