Boat prices in Australia taking a tumble

WestVanHan · Feb 9, 2012

Sad story about the retired guy.

I know of a fellow in Az. that does the house cleanouts for the banks-business is booming for him.

michael pierzga · Feb 10, 2012

philSweet said: ↑

Regarding those repo maint jobs- thats a tough business. Two repos next to my parents. The yard crew does 3700 residential repos. Five guys and one gal. Do the math on that one. They average 8 minutes on site with a two man crew. Typical 1/6 acre lots.

I seriously looked at trucking wrecked boats from Katrina up to northern Mississippi where I could buy land for 1000 an acre with no restrictions. I figured knackering boats in the winter and maybe restoring one or two a year would work. Then I checked out half a dozen salvagers and they were already flooded and I just didn't think repairing boats wholseale made sense in this economy. There are still 1000s too many boats in the US. The banks won't take them. I had access to a brand new flats boat that had been purchased by an old electrician for retirement. A week later his wife got cancer and she died a few months later. The economy tanked and he hadn't been paying attention and he ended up declaring bankruptcy a year later. Bank wouldn't take the boat. Took every other damn thing including 12 year old rustbucket vans, but not the boat. Finally, the accountant who was handling the bankruptcy had me tow it to the bank parking lot on the morning of the final bankruptcy hearing. The bank pretended they didn't know who it belonged to and had it impounded- their own bloody boat!!! Everybody in town knew the story of that boat. It was basically available on the down low for a year.
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Its a shame about all the shipwrecks. Locally we are overflowing with them...boats up to 25 meters.

Breaking boats is not profitable. It would be wise if when registering a boat, the authorities added an annual ship breaker fee. When the boat must be broken up , money from these fees would be deployed to make breaking profitable and clean.

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Boat prices in Australia taking a tumble

WestVanHan Not a Senior Member

michael pierzga Senior Member

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