Originally Posted by Stumble
I just shopped scrapping a ~30 ton vessel, and was offered a max of $3,000 delivered. But they required removal of all fuel, oil, and other pollutants.
Like I said, it was sold at auction, with public notice... Anyone who wanted her was welcome to show up and bid. So clearly no one wanted it.
Oh, and I am all for the "fair is fair" argument, and perhaps there is some logical reason this sold at auction for .01.
But let me ask you this. If you were out sailing and entrusted me to sell your $5 million dollar home, and I had a fiduciary duty to you, would it be reasonable for me to explain to you that it sold at auction for $.01? Sometimes auctions are not the best way to sell things when you truly are trying to maximize the return as the feds ought to be doing.