Some good deals on multi hulls

Discussion in 'Multihulls' started by ondarvr, Sep 7, 2017.

  1. dsigned
    Joined: Aug 2017
    Posts: 24
    Likes: 2, Points: 3
    Location: United States

    dsigned Junior Member

    Any recommendations for how to do this? Did you purchase them directly from the marina?
     
  2. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)

    The marina wants to get rid of the pile of wrecks to start reconstruction.

    After the damage the insurance companies often own the damaged boats and are responsible for the removal, and they have to act quick otherwise the marina wants a lot of money for blocking the way.

    So you deal with the insurance agents, the marina owner could get you in contact with them.

    Getting things organised right now is difficult for the insurance companies, so they want to give you a good deal which is less then a bargain at this moment, so the salvaging and removal of the boat becomes your problem.

    Then you jury rig the holes and pump out the water, and tow the boat off the site to a place that suits you to do the definitive repairs.
     
    Last edited: Sep 14, 2017
  3. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)

    If the insurance agent considers the boat total loss then he might just give it away to avoid the costs of salvaging and disposal.

    Maybe you could even apply for money to become the owner, but this also depends on the residual value of the individual components on the boat.

    However what the insurance company considers to be total loss in this situation could be quite different for do it yourself salvaging and fixing up the boat.
     
  4. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)


    ‘‘ . . . Five days after the pair reached Cabo, on the night of December 8, Joshua and 25 other boats in the anchorage were blown ashore in a freak storm. . . .

    [​IMG]

    . . . Moitessier felt he couldn't cope with salvaging and refitting the boat, so he gave her away on the spot (technically, he sold her for $20) . . . ’’

    Jim Cate

    ‘‘ . . . According to the locals to whom Bernard gave Joshua, they shoveled the sand out of her, got a bulldozer to shove her bodily across the beach and into the water and then banged out the dents in the hull with a sledgehammer. Did little else to "refit" her . . . and then sailed away . . . ’’
     
  5. UpOnStands
    Joined: Nov 2015
    Posts: 493
    Likes: 5, Points: 18, Legacy Rep: 16
    Location: Sydney

    UpOnStands Senior Member

    Just remember the deadline for removal and the high costs of support, if you can find support.
     
  6. PAR
    Joined: Nov 2003
    Posts: 18,396
    Likes: 366, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    In many cases, the marina takes possession after some lien paper work is filed. Then they're free to act, typically for little more then storage and paper work fees. You can also deal with the agents, which is usually more trouble. In most cases like this you can steal the boat,knowing what's involved. This isn't a good way toget a dream yacht. Removal can be costly, renovation even more.
     
  7. UpOnStands
    Joined: Nov 2015
    Posts: 493
    Likes: 5, Points: 18, Legacy Rep: 16
    Location: Sydney

    UpOnStands Senior Member

    For PAR: would the buyer have to post a bond to ensure that they actually remove the vessel by the date agreed?
     
  8. groper
    Joined: Jun 2011
    Posts: 2,397
    Likes: 87, Points: 58, Legacy Rep: 693
    Location: australia

    groper Senior Member

    Im ready - who do i call? Which insurance companies, which marinas... are these boats listed for auction somewhere?
     
  9. PAR
    Joined: Nov 2003
    Posts: 18,396
    Likes: 366, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    The arrangements per deal are worked out on a custom basis. No two deals, unless done at once are the same. Some will want removal demands, others who knows, but huge price breaks are possable if you have liquid laying around with nothing to do with it. As for the the details,this is up to you and what you can work out.
     
  10. groper
    Joined: Jun 2011
    Posts: 2,397
    Likes: 87, Points: 58, Legacy Rep: 693
    Location: australia

    groper Senior Member

    A contacts list would be helpful...
     
  11. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)

    Right now it's a mess there without infrastructure, so nobody knows who to call beforehand, so you have to go there and act on the site.

    And best only make deals that you know for sure that you can live up to, otherwise this brings you in trouble as a deal usually involves you're responsible for the removal within a certain time.
    It's a problem to organize that right now from the ruined places without infrastructure, that's why they would be happy to give seemingly lost causes away, including the responsibilities involved.
     
    Last edited: Sep 14, 2017
  12. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)

    Contacts can be found by following the path of Irma in the Caribbean, a first selection where to go can be made from following the news.

    The post #1 picture looks like a good place to start, it could be the French side of Saint Martin.
     
  13. Angélique
    Joined: Feb 2009
    Posts: 1,622
    Likes: 129, Points: 63, Legacy Rep: 1632
    Location: Belgium ⇄ The Netherlands

    Angélique aka Angel (only by name)

  14. groper
    Joined: Jun 2011
    Posts: 2,397
    Likes: 87, Points: 58, Legacy Rep: 693
    Location: australia

    groper Senior Member

    Ok so what happens when i go to paraquita bay... i can see a bunch of damaged boats... who do you start talking to? The salvage companies? the marinas? the poor bloke who just found his yacht sunk?

    When does ownership of the wreck change over from the insured owner to the insurance company and to the salvage company- timeframes? Over here it can take weeks or months for an insurance company to write things off...
     

  15. PAR
    Joined: Nov 2003
    Posts: 18,396
    Likes: 366, Points: 93, Legacy Rep: 3967
    Location: Eustis, FL

    PAR Yacht Designer/Builder

    Again, this sort of thing can cause you to take bath on the first few deals. Insurance company contacts are easy enough to find, but personal relationships need to be established. Marina owners and operators are the fast way to contacts and techniques.

    Yes, it can take weeks, though most are willing to work things out after the fact, once you've removed the boat. It's important to understand the process, so you don't get trapped, which easy the first few rounds.
     
Loading...
Forum posts represent the experience, opinion, and view of individual users. Boat Design Net does not necessarily endorse nor share the view of each individual post.
When making potentially dangerous or financial decisions, always employ and consult appropriate professionals. Your circumstances or experience may be different.