I believe that the buy back price from the Ins. co. is $750, not $1800. I think that they (ins. people) pick a number out of the air for this. I bought my boat back for $800 after it was totaled and they sent me a check for the insured value minus $800. We used the remaining insurance claim money to fix the boat up.
Seems to me that Andreas is offering someone the chance to acquire his boat for the salvage price of $750 which is actually pretty decent of him. He would get $17,250 from the insurance co. and if the buyer pays him $750 he will still have $18,000 to start looking for a new boat with.
If anyone takes him up on it they will get a boat that he paid $10K for and only pay $750. Sure, the boat will have issues but that is a pretty rock bottom price. The real problems arise when you start looking at the costs to both move and fix the boat up.
If the engine can't be quickly revived the boat will likely need to be hauled away to the new owner, at considerable expense (well more than $750). There is likely some fiberglass and gel coat work to be done, stanchions replaced etc.
The calculus of this gets a little fuzzy.
Originally Posted by AndreasNYC
I case anyone cares, the salvage bid was 750.
So 750 and the boat is yours.