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Old 07-11-2008, 11:41   #1
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Ike's Flotsam and Jetsam Auction

If you fancy yourself a handy person, and you're a bit shy on cash in your hunt for a perfect boat, have you considered the broken boat auctions?

Apparently the insurance claims from Hurricane Ike have worked their way through and the boats which might be salvageable are being offered real cheap in auctions, some of them online.

KHOU.com
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Old 07-11-2008, 15:54   #2
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Just keep in mind...allot of these boats will not be insurable untill they have been fixed....and that can take time...most will have to be surveyed twice befor you will be able to get insurance on them...Once to determin all the structural defincies of the boat ( buy their surveyor ) and a second time to warrent all thing were repaired corectly to the insurers satisfaction.

So you wont be able to keep alott of theas afloat in any marina till all work is done and signed off and insurance underwriten on them.
It is possibal sometimes to work out a deal to get liability coverage only... which will satisfy a yard you may find to keep them on the hard in...just dont splash it before getting proper underwriting or it will void your coverage.
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Old 07-11-2008, 18:03   #3
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Old 07-11-2008, 20:10   #4
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Many of these boats suffered superficial damage due to the large surge and were washed on the hard. Im at a municipal marina and the city is raping us big time. Because they had built the floating docks using pilings that were only 7 1/2 feet above mean the entire marina floated off 1/4 mile.

The city will not let our insurance companies touch our boats. Instead we must use their contractor. The cost to lift our boats is disgusting. To lift $155.00 per foot, to stage on stands in the parking lot, $23.00 per foot, to splash, $75.00 per foot, total $253.00 per foot! The total cost for my 32' O'Day is $8096.00!

The insurance adjuster told me that they will total a boat if the damage is around 50%. I think this includes the salvage cost because my neighbor had his 27' Catalina insured for a flat amount of $12K and they totaled his boat. His damage consisted of the rudder and shaft being damaged with a repair estimate of $3k. (could be done for $1200.) Many at my marina only had liability and cannot afford this extortion and must walk away from their boats. Ive seen a nice 40' that will probably go to auction because the owner cant pay $10,120.00. The boat has very minor scratches. Its an outrage.

There are a lot of boats that the owners didnt secure properly and left the sails and biminis on that were shredded. Hell that damage alone can exceed $6500. For example, if the boat was 35' the salvage would be $8855.00 and with the canvas damage the total loss would be $15,355.

With so many boats being auctioned down here I dont think anyone would need to buy a boat that has been submerged, in fact I advise against it, but if youre looking you just might find a deal.

BUT BEWARE
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Old 07-11-2008, 22:22   #5
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Doesn't seem right ..Id get ahold of your local media and have them do a TV spot and put some pressure on em...with one of your local state representatives there if you can get them.
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Old 07-11-2008, 22:38   #6
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Doesn't seem right ..Id get ahold of your local media and have them do a TV spot and put some pressure on em...with one of your local state representatives there if you can get them.

We arent sitting back, but right now we need to be discrete; but then...

hah!

I havent told but a small part, it is unreal. After everyone gets out I will share more. You will be outraged.

Stay tuned
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Old 08-11-2008, 05:25   #7
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What were the rates before Ike? In my part of the world it is against the law. It is called price gouging. We had some problems with gas prices supposedly because of Ike and the State was all over it.

Wonder who the contractor is in bed with or vice verse.

If it floats will the insurance company let you take it somewhere else?
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Old 08-11-2008, 05:34   #8
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This Almost Happened in New Orleans After Katrina, But

Enough boat owners contacted enough insurance agencies and news media that the practice was stopped. In New Orleans, the son of one of the local politicians responsible for the government owned marinas tried to set up an "exclusive" salvage firm that worked much like you are describing in Houston. Only public pressure and talking to the news media stopped it.
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Old 08-11-2008, 08:26   #9
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What were the rates before Ike? In my part of the world it is against the law. It is called price gouging. We had some problems with gas prices supposedly because of Ike and the State was all over it.

Wonder who the contractor is in bed with or vice verse.

If it floats will the insurance company let you take it somewhere else?

The rate to lift and splash a boat was about $10 - $11 per foot. A complete bottom job with materials cost about $1100 -1200 per foot.

My insurance company brought in their own salvager. After a few days the salvager was kicked out by the city's on site coordinator because they were using their own lift equipment (and not paying extortion) The city said they were concerned that the contractor, who is working for the 3rd largest insurer in the U.S., didnt have enough insurance!

My insurer has been great and will stand down until all the other boats are out of the way. Upon learning that I had a new slip with rent starting Dec. 1, they told me that if my boat wasnt in the water by then, that they would pay the slip fee.
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Old 08-11-2008, 10:04   #10
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Sounds like someone in the city has a relative, or friend who is the contractor......Can you spell KICKBACK?
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Old 23-12-2010, 17:18   #11
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I see no boats listed. This is spam. No place to flag a post on this new CF?
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Old 23-12-2010, 17:23   #12
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I see no boats listed. This is spam. No place to flag a post on this new CF?
Bottom left.

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Old 23-12-2010, 17:30   #13
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Try that little red triangle symbol, just under your post count figure.

edit,.... not sure how I missed Therapy's response.
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Old 23-12-2010, 17:30   #14
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Thanks...blush..........................
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Old 24-12-2010, 19:01   #15
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Ymmm guys, this post is over 2 years old? The auction listing you go to is what those people have currently for auction. Those old hurricane boats are long since sold and resold, mostly ending up as abandoned junk.

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