overpriced storm damaged catamarans40

[travellerw]

I think the reason they are going so high is the lack of anything really salvagable. If you had been down here and seen how many boats they squished of sent to be chipped you would understand. At one point, there was a barge a week being sent to Antigua where they were stripped and squished. That was just one barge and didn't include the boats being stripped and squished locally.

Hell, in the early salvage process they weren't even stripping anything, just squishing. Boats with good winches, blocks, davits, ect, just squishing and carting away. People were begging to go and remove parts, but were refused by the gun totting guards. Heartbreaking to watch a fantasic set of davits get squished by a track hoe.

Anyway.. I just don't think there is anything left that is even worth looking at this point.

[riki]

I was thinking for a salvaged catamaran too and asked some questions and received many interesting answers here: http://www.cruisersforum.com/forums/...an-202772.html

I ended up with a very simple final colclusion: a salvaged might worth only IF 2 conditions apply:
- luck to find something in acceptable "good" shape, and just on this one we could open a thread itself
- buying at a maximum price of 20/25k independently of conditions because it's really very very easy to go over 100/120k.....and for this price you have quite some choice of non damaged cats in the under 40ft category.

[Lake-Effect]

Originally Posted by Mattm

ats what i kind of figured. im glad this is confirmed. i had this vision of buying a sunken cat for 10-20k. throwing 2 kicker brackets and 2 30 horse outboards purchased in canada on the back and motoring it back to lake ontario for a rebuild. then id be paying 2-5 thousand import duty instead of 50-100 thousand import (which i dont think i could ever stomach doing). i was orginally toying with getting the boat to florida somehow and repowering it with new beta marine engines there and motoring back but canada has now imposed tariffs on marine products from the US. i suppose its just not a good time to buy a boat. my investments are doing way too well to even think about pulling capital for a boat right now anyways

First-world problems...

Like everyone else, I followed the salvage threads here and elsewhere, but I kind of figured early on that the majority of easily restored boats would be snapped up by locals and insiders. I know that there are second-tier budget charter companies who would be happy to make the minimum repairs to get those boats into service.

It was kind of sad to read here that so many damaged boats were simply cut up, crushed and carted away, with all those still-fine parts. But they were insurance writeoffs, space is at a premium, storage is expensive, and knowing how cheap sailors are, I don't know that the effort to salvage all the useable parts would really pay off, especially if they all hit the market at the same time.

Anyway, show your colours! Until this tariff foolishness ends, buy a nice Canadian PDQ cat and restore that.

[danielamartindm]

As StuM mentioned, all the good deals are snatched up IMMEDIATELY after a disaster. Wait for the next one, and strike. I don't say this in a jaded way, it's just the way things are.

[LeeV]

Originally Posted by Lake-Effect

First-world problems...
——————————-SNIP—————————
It was kind of sad to read here that so many damaged boats were simply cut up, crushed and carted away, with all those still-fine parts. ——SNIP———

Anyway, show your colours! Until this tariff foolishness ends, buy a nice Canadian PDQ cat and restore that.

1. Don’t be too sad; I’d say 98% of the usable parts found their way to shelves
2. Don’t even have to show “colors.” W/o starting a political #$@&storm, the tariffs are hurting folks on all sides of borders. That said, I’ve always liked the PDQs! 😀

Regards,

[captlloyd]

Originally Posted by Kenomac

It’s really no different than a damaged house. If the work is done properly it can be as good as new.

I agree and if you are looking to buy one of these boats and have all the work done by a boatyard you are not thinking rationally.

[TWB]

I had an 8 1/2 month old monohull totaled. Estimated repair costs were about $300,000. I found online that is was purchased, at auction, for just over $50,000.

I don't think they could ever come out on restoring it. If their lucky maybe they could come close to breaking even on parting it out.

I'm still shaking my head.

[travellerw]

Originally Posted by LeeV

1. Don’t be too sad; I’d say 98% of the usable parts found their way to shelves
2. Don’t even have to show “colors.” W/o starting a political #$@&storm, the tariffs are hurting folks on all sides of borders. That said, I’ve always liked the PDQs! ��

Regards,

Wait.. Why do you say this.. %98.. Not even close to what I saw.. Hell I would be surprised if it was %40 based on what I saw. No one was even bothering to try and save the stainless tubes on biminis, just crush it all into a ball and cart it away. Whole motors, nothing being pulled off. I never saw one winch removed by a salvage crew (plenty taken by night time scavengers).

Damn, if you saw something different I would love to hear it.

Of course there is a conspiracy theory that the destruction of those parts was done on purpose. All the businesses in the island chain realized that if all those parts were to come on the market over the next few years it would mean the end of their businesses. Hell, no one would ever need to buy new parts for 30HP Volvos or Yanmars for years to come. Heat exchangers, heads, hoses, water strainers, ect, all tossed out.

[Scotty Kiwi]

Isn't there a "yacht dismantling" industry? Like auto-dismantling (car wrecking)?
And a system for retailing good second hand bits - incl stoves, generators, light fitting, even the crockery?
And its just the shell that goes off to the crusher?

Or is it the throw away world?

[robharvey]

I guess this is handy protection for Antares Yachts which are manufactured in Buenos Aires.

[Iaangus]

If there are a lot of privately owned salvage boats sitting in yards I’m thinking there could be a bunch of incomplete restorations for sale in the next year. After a full year into their project, accumulating yard fees, over budget on time, over budget on supplies and parts, people are going to be looking to recover costs at first,that isn’t gonna happen. Some projects will be sold for a huge loss, some projects the yard will probably end up selling to recoup back yard fees.

[AiniA]

Originally Posted by Mattm

Correct however HST in Ontario is 13% plus 10% duty. At the end of the day tax is tax. In many US states there are maximums. In Canada there are not.

Generally (always?) when you physically import a boat the customs guys (and gals) only hit you for the federal part of the tax (5%). They don't collect for the province for some reason.

[Mattm]

Originally Posted by AiniA

Generally (always?) when you physically import a boat the customs guys (and gals) only hit you for the federal part of the tax (5%). They don't collect for the province for some reason.

That's interesting. Do you know if they come for the other part later on? Because I was talking to brokers about strategies for getting around these fees and I was told the only way to decrease the tax is to reduce the cost of the boat. Even if you bought something I was told you need to do your import before refitting as you'll get hit for any upgrades aswell (unless they are duty free)

[travellerw]

Originally Posted by Scotty Kiwi

Isn't there a "yacht dismantling" industry? Like auto-dismantling (car wrecking)?
And a system for retailing good second hand bits - incl stoves, generators, light fitting, even the crockery?
And its just the shell that goes off to the crusher?

Or is it the throw away world?

Maybe something like that could work up in the USA, but I highly doubt it would work down here.

If you had ever been to the BVI you will understand the problem. The BVI had TONS and TONS of boats that were destroyed. They didn't physically have the land to put those destroyed boats on. So they had bays of destroyed boats with nowhere to put them. They knew that the tourism industry hinged on how fast they could clean up the devistation. So crushing and carting was the solution. Stripping and salvaging would slow things down too much.

They also employed a barge that was loaded full about once a week and sent off to Antigua (North Sound). Another barge from St. Martin was also making the run to Antigua. Many of those boats were stripped, although I have not seen many of those parts for sale yet. I would not be surprised if those used parts are shipped out of the island chain to help protect the businesses here. I could be wrong about that, who knows.

Harborshoppers has listed some parts. Originally, most of it was just junk sold in LOTS for local pickup only. Now it looks like they are listing single items but the prices are stupid (like used turnbuckles for $175)
https://harborshoppers.com/product-c...s-accessories/

[rabbi]

i wonder who is really considering a salvage catamaran now, after the moisture had 9 months to do it's job and with the next hurricanes around the corner.

But where are the items they had in storage? There must be hundreds of good sails and lazybags somewhere,. Unless the storage building was blown away, too