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post #12 of Old 04-08-2013
Stumble
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Re: Are abandoned boats a big problem in the U.S?

TQA,

Part of the problem is that it is often cheaper to pay the slippage fee than to pay the disposal costs.

As an example, I have some sailing buddies that owned a 65' racer that lost its keel in the middle of the Gulf of Mexico. About a year later it showed back up, and the insurance company delivered it back to them. The restoration cost was higher than a new boat, so that was off the table. Demoing the thing was going to cost a good chunk of change, or they could put it back in the slip. A simple spreadsheet showed they could take half the disposal cost, put it into low return US Savings bonds, and pay the slip rental off of the interest. So that's what they did, with no expectation that the boat would ever be anything but a floating junk heap.

No dream here, just a honest calculation that letting it rot was significantly cheaper than disposal.


My thought is that marinas need a better way to get rid of these clunkers, so those rare slips can be put back on the market.

Greg Rubin
Attorney
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