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eBay Boats
I have been looking at used boats on Craigslist and eBay and I have been surprised at the amounts some people will bid for boats sold by charitable organizations, sight unseen, as is and where is, on eBay. It seems to me that the bidders are bidding more than the boats could possibly be worth.
As an example, this morning, there is a nice-looking 1980 P-30 with a nonworking inboard diesel with 34 bids up to $3,900 in Maryland. It appears the donor painted the boat in April then donated it to eBay in July, presumably because the engine no longer worked. It might be safe to assume that the donor also discovered some defect while painting the topsides, for example, wet balsa core on the deck (otherwise, why would someone paint a boat several months before donating it)?
I understand the donor may get an itemized tax deduction for the lesser of fair market value or gross proceeds of sale and that would benefit the donor in the same percentage as his or her tax bracket. I would assume that the donor might also want to donate the boat to avoid any liability from selling a boat without revealing defects.
Would anyone care to share any experience either in donating a boat to, or buying a boat from, an eBay charitable organization?
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