Every single day there are boats that are abandoned, damaged or seized, thanks to illegal activities of owners. Insurance companies usually pay the owner when the vessel has been through an accident, but after that they do not have any further use for it. Being damaged, it is not easy to sell of course. Nearly everyone would find the prospect of buying a damaged boat somewhat leery.
You would normally find business enterprises engaged in catering and similar vocations, attend sales and sign up good deals for boats which have not undergone very serious and irreparable damages. They then recondition the boat, add some fresh paint and there you are, the boat is now saleable at a good price. In most cases, the public are invited to participate in the salvage boat sales and so can make their own purchases. You simply need to do some restoration work and you could be a winner. News about salvage boat sales is publicized through the media for public information. You would never be able to gauge how much and what type of repair work is needed unless you do prior research about models and vessels. This way, you could do the same as the restoration business and keep thousands of people as your potential clients. This type of sales is perfect for people who adore the sea and yearn for a boat, but would otherwise not be able to affort a boat. These boats are usually far cheaper than others which leaves space for making all the restoration work to put it back in order.
Another grand idea when wanting to purchase a boat or a luxury yacht is to survey salvage boat sales. Luxury boats are often captured for carrying out illicit activities. These boats are then sold at auction to the highest bidder, which if you play your cards right, could be you. The first owner of these boats would have paid thousand of dollars for them, but now the prices are slashed, for many reasons. These boats are usually in a fine shape requiring only minor makeovers, if at all, so this becomes a very profitable proposition.
The reliability of the agent you are dealing with when buying a boat is a critical factor. Some shady characters may try to sell you a damaged boat, after giving it a fresh appearance and claiming that it is as good as new. That is why it is better to purchase your vessel from a reputable auction house instead.
Posted under Foreclosures
This post was written by admin on February 16, 2014
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