Salvage auction

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Robski97

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An auction was held at a marina . During the walk tru people were asking about the boat history . How the boats were dmaged ( sunk , or just fell off stands ) the salvage rep outright lied . I was disgusted . Also their auction material omitted water damage . People need to get smart quick and yes buy nothing with out a survey regardless of how good it looks

Rob
 
The guy that sold my boat said it was in water but was quickly pulled out.
It said in the water for a week.
In addition ny does not have salvage titles for boats.
Once cleaned up no one will know.
 
The real problem is not the auction. These auctions are usually, Caveat Emptor "AS IS, Where IS" meaning there is no guarantee implied. At least the buyer knows this.

The real problem are the dealers/people who buy these salvaged boats, fix them up cosmetically, and then re-sell as trade-ins or used, with no mention of them being salvage.

This is reason you always do your homework on past owners, and get a boat surveyed, no matter what. Especially since most states do not issue salvage registration for boats.
 
I buy at industrial auction on a regular basis for the business. I always do my homework before going to the auction, such as contacting sales/service departments of the oem for the equipment I want to buy, use industry contacts to find something out about the defunct outfits care of their equipment, then I go there a day or to early with tools, flashlight, etc, and insepct everything I intend to bid on.

Buyer Beware.

The auction house has absolutly no reason or responsibility to stick their necks out and make any claims whatsoever, and if they did, you'd have to be remiss to take their comments as gospel.
 
FYI: Go to the auctions, not to buy, but to find out who purchases the boat you are interested in. Make contact with that person and get their phone # or email address. Wait about six months and contact the guy/girl that purchased the boat you were interested in and make them an cash offer at about 30% of what they paid for the boat. Most will jump at the offer, because they found out the HARD WAY it cost more to buy and PROPERLY repair a storm damaged production boat than it would cost to purchase a like year/make/model used boat in sound condition. Let someone else's "Dream" of purchasing a boat at an insurance salvage auction work to your advantage. Most likely they have already expended money to have the boat moved to a yard somewhere and the cost of storage, ETC is eating that dream alive.

Post Katrina, the woods were full of dreamers buying storm damaged boats at auction at prices that in some cases were within 70%-80% of the sound value of the boat. Within a few months you could buy the same boat for one-quarter of what they paid for it at auction, plus they had expended the labor and cost to move the boat, clean it up and may be even have started repairs. Everybody's got to have a dream!
 
Another thing to consider is that these boats are going to be sold around like hot cakes for years to come. You may come by one three owners later than today. More than ever everyone needs to get a boat surveyed and the surveyer needs to be willing to feel the oil pan for rust, check wiring connections for corrosion, and check all gages. If a deal is TGTBT, it is just that and you need to walk or understand the risk. Of course that risk doesn't matter to everyone. Some don't care about electrical issues and the like if they're confident in their abilities to diagnose and repair them.
 
even looking at the salvage websites (like cooperss.com) it's amazing what some of the boats are going for. Makes you wonder if you could find a diamond in the rought, but probably not worth the risk.

Real "nice" 2008 Sea Ray 350 up there
 
ck out crankyape.com i delivered a few repo cars to their lot its all neat classic and high end cars i took pics of a ferrari all rust on the inside their mostly flood cars and often go higher than one in good condition
 
I don't feel sorry for stupid buyers. Buyer Beware!
The Fairbanks AK Flood of 56 had hundreds of 'stuff' up for salvage auction. Boats, Cars, Snow machines, Washing machines.....etc.
All full of the River Silt.
If people cannot see for themselves, then don't buy!
 
LOTS of those "storm boats" showing up for sale in Florida.

Like someone sais; "Survey, survey, survey!"

Bob
 
I recently saw a Sandy boat sell at auction for more than a similar one was asking for on YW. I cannot reconcile how or why people pay the prices they do at these auctions.
 
quote:
Originally posted by Mantle107

Think it's worth a look?

http://www.cooperss.com/1-2-28537-Sea-Ray-DA-350-DA?tab=Photo+Gallery#tab

Click to expand...

No if this vessel sustained damage worse then my boat during Sandy I wouldn't touch it. The pictures are not any good. It looks like the insurance company wrote it off as a total loss? My boat sustained more damage and was not salvaged. I have a real problem deciding if I am going to repair my vessel. I wouldn't want to sell it with the extensive deck, rail and hull damage it sustained.
I'm not sure if I have any real options at this point even though the insurance company has given me a year to submit addition requests for repairs.
Bill
 
I should of bought my boat from insurance company.
I could of waxed it up and sold it for four times what they would of sold it to me for.
But there is some money not worth making.
Yeah as stupid as the statment sounds, think about it!
 
I agree with your statement. Be thankful you got paid properly and quickly for your boat - got a new and better one!

Let someone else "do what they gotta do" to make a buck
 
We call those poor souls "Hurricane Survivors" and sometimes it's a good deal. Especially if it's a simple boat.
I bought a Riding Lawn mower. With some work and power washing, we're still using it.
In AK I bought a salvage boat. All I got out of it was the Hull and some fittings. Bought used motor etc.
 
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