Sandy has damaged over 65.000 boats

More than 65,000 boats were damaged or lost as a result of Hurricane Sandy, the end of October along the east coast of the United States raged.

 

I guess the only silver lining is the opportunity for salvage parts.

Anyone have any contact info for salvage yards in the area? I need a lot of stuff, especially mast sections.

 

65,000 damaged boats and..... 50,000 insurance scams !

Im watching an insurance scam for storm damage unfold now.

 

Every major storm produces lots of claims and "project" boats. It's easy to to fall in love with most of these, but takes considerable experience to know which to take on and most importantly which to walk away from. Most boats get repaired and put back into service, either through insurance or buy out. Some companies specialize in this sort of work, but unless you have a back yard full of spare parts and the expertise to install and/or repair the various things wrong with each, you'd be best advised to not even think about it.

 

What would the boat business do without hurricanes?

 

Should be a lot of easily fixable boats cheap.

 

Not as many as you might think. The easy, fixable ones will have insurance companies getting them squared away and back in service. A much smaller percentage of these will be fixed by their owners and a much, much smaller percentage will be purchased by local marinas and repair shops, looking to flip them. The percentage of this will be quite low, maybe just one or two percent of the total.

The ones that will be plentiful will be the boats with major damage, sunk, dis-masted, etc. They will be borderline total loses and insurance companies are often just interested in cutting their loses, rather then go through the bother of recovery and repair. These are the money pits and you better have a lot of experience in salvage, repair and restoration or you'll just take a bath. If you have the pockets and resources these can be great deals, but if you haven't, run as fast as you can or you'll sink 30k into a boat worth 25k (if you're lucky).

 

Well if one were young, energetic, and resourceful, there are deals to be got .
I am past wanting to spend weeks grinding fiberglass, but there was a time when that was reasonable .

A friend got a boat that had been holed on some rocks. He ground out the holes in side and out, did a substantial repair, and ended up with a nice boat, that he could not have afforded other wise.

F

 

No need to grind glass and rescue structurally damaged boats.

When the typical plastic production sailboat get wet ,the system damage is so great in relation to the value of the boat that the insurance co. writes it off.

A friend on mine has built a whole charter fleet out of sunk, water damaged , 35 footers.

No structural repairs needed.

Be warned that the reason the insurance co has written it off is that all that stuff inside like systems , wire, engine, furnishings , electronics is expensive.

Unless you have a buisness plan for the rescued boat stand clear.

 

Sandy also submerged an underground vault holding in excess of one billion dollars in bonds.