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Old 13-03-2017, 11:09   #16
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Re: Marina finds

I've seen it happen on several occasions. On each of the occasions I've seen the mechanics lien, or storage lien was higher than the value of the vessel.

I've seen a few, where the owner simply abandoned the vessel because the cost of repair exceeded the value of the vessel AND the cost of disposal exceeded the value of the vessel as well.

Nobody walks away from a sound $30,000 vessel free and clear of liens.

There are no free lunches and no free/cheap boats.
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Old 13-03-2017, 11:54   #17
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Re: Marina finds

I believe that the hey day of boat finds was years ago.
Last power boat I bought I was talking to the Broker that said most often that on closing two checks were written.
1 by the buyer to purchase the boat
2nd written by the seller that along with the purchasers check, paid off the lien, and these were newish, expensive boats.
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Old 13-03-2017, 12:29   #18
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Re: Marina finds

Quote:
Originally Posted by harbourboy View Post
Read an entry today from a yard in Maine that was trying recover some of their costs on a boat that was left there. In the end, someone scored the Morgan 38 for $5000. My question is this - how rare an occurrence is that and where would one search for such finds if they exist.
Here is a boat auction company, there is a Beneteau 35 in Maryland and a Morgan 40 in Florida on their list. http://usauctions.com

I've never a boat at auction, but for other things I've gotten some good bargains at auctions. I once went on vacation, went to an auction and ended up paying for my whole vacation with the profits.
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