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Go Back   SailNet Community > General Interest Forums > Boat Review and Purchase Forum > Boat Buyers & Sellers Forum
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  #11  
Old 11-17-2012
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Re: Aloa 34 (1974) available for "salvage"

Andreas? From your numbers, you get $18,000 if you walk away.
Or you get $18,000 less 10%, which is $1800, if you keep the boat and resell it.

OK, so you're going to pay $1800 for the boat, pay something to keep storing it, and try to sell it for $2000? That's a whole $200 profit, if you have no storage fees and spend no time and worry about it?

Frankly, if you're just going to make a $200 gross profit on the sale, I'd walk away and let the insurer keep the boat.

OTOH if you check out the engine, flush the oil, see if you can get it to start...Now you might be able to make a profit as well as find a good new home for her.

Last edited by hellosailor; 11-18-2012 at 12:12 AM.
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  #12  
Old 11-17-2012
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Re: Aloa 34 (1974) available for "salvage"

HS,
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.

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Originally Posted by AndreasNYC View Post
I case anyone cares, the salvage bid was 750.

So 750 and the boat is yours.

A
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  #13  
Old 11-18-2012
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Re: Aloa 34 (1974) available for "salvage"

Caleb-
He had said he thought the salvage value was 10% of the insurance value, citing $18,000 as the payout. So presumably the salvage value is $1800 based on that. And he was asking $2000 specifically. I don't know how I missed the later post saying the bid was $750 but again, why bother? If someone doesn't come through, he's out winter storage and removal at a minimum. If they do come through...yes, it goes to a good home, but first he's got to spend more time with lookers, etc. As opposed to, just let the salvage yard make a living.
Speaking of which, ever notice how salvaged boats disappear? Aside from a few big auction companies...no one can ever find where these boats go, much less put in bids on them. You'd think these guys would welcome advertising and try to get their names around.
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Old 11-18-2012
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Not if they're refit and sell without the gory details businesses are to succeed. Very common in cars at any rate.

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Old 11-18-2012
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Re: Aloa 34 (1974) available for "salvage"

Quote:
Originally Posted by hellosailor View Post
Speaking of which, ever notice how salvaged boats disappear? Aside from a few big auction companies...no one can ever find where these boats go
I know where they go ....
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Last edited by Faster; 11-19-2012 at 06:06 PM. Reason: fixed quote
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  #16  
Old 11-19-2012
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Re: Aloa 34 (1974) available for "salvage"

AndreasNYC email me at WakeDL at gmail dot com
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Old 11-21-2012
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Re: Aloa 34 (1974) available for "salvage"

My only thought looking at this is that it's a 34' boat that you loved and you're only getting 18k for it. If it was 30' or less I think it would be a no-brainer. There are tons of great ones for 18k or less. But at 34 it gets harder to find a good one for that money. I guess you know what you want, do you think you can get it for that 18k?
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  #18  
Old 11-26-2012
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Re: Aloa 34 (1974) available for "salvage"

OK guys last call...
WakeDL have not heard from you, PM me if you want.

A
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Old 11-27-2012
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Re: Aloa 34 (1974) available for "salvage"

WekeDL I only just spotted your message above, sent you pics and tel #
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Old 11-27-2012
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Re: Aloa 34 (1974) available for "salvage"

Can anyone speak to this damage? Anyone care to "estimate" what it would cost to repair?
Attached Thumbnails
Aloa 34 (1974) available for "salvage"-%7B0b91b0f5-b4ce-4141-99eb-329b4a565f12%7D.jpeg   Aloa 34 (1974) available for "salvage"-%7B224c26cb-0dba-402a-b4c5-5cc1886e2aa5%7D.jpg   Aloa 34 (1974) available for "salvage"-%7B2440e95f-a6dc-4326-aefd-7e844cb80db6%7D.jpeg   Aloa 34 (1974) available for "salvage"-%7Bd279d6eb-e668-45bb-9cc1-8a32e338d547%7D.jpeg   Aloa 34 (1974) available for "salvage"-%7Bfb665b44-ab92-4cf9-91aa-f0307456b3ca%7D.jpg  


Last edited by WakeDL; 11-27-2012 at 06:14 PM.
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