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NYT abandoned boats article

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pastmember
Master Marine Consultant

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2402 Posts

Initially Posted - 04/01/2009 : 09:54:16

http://www.nytimes.com/2009/04/01/business/01boats.html?hp

Sounds like we need an adoption program.

Frank Hopper

Edited by - on

Steve Blackburn
Master Marine Consultant

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Canada
1091 Posts

Response Posted - 04/01/2009 : 11:39:46

That is an incredible story! I had no idea it was that bad. But thena again when you think about it, if you have an older boat that you cannot sell and loose your job the boat is probably the first thing to "cut loose". The mooring costs alone are difficult to justify when loss of employment is a reality. These are desperate times that summon desperate actions.

I have to believe that some of these boats are in pretty good shape too. Why are we not seeing fire sale prices on boats on yachtworld? Is it because most are sold from brokers?

Edited by - on

Prospector
Master Marine Consultant

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Canada
3159 Posts

Response Posted - 04/01/2009 : 11:46:28

If you look at the craigslist locations, the prices there don't reflect "desperation" either. I wonder how much of this is fact and how much is "journalism." The craigslist location in the story has plent of folks offering to take abandoned boats off folks hands all of a sudden, but no listings of boats for $100.

I suppose if you were looking to cash in on an insurance policy, its an all-or-nothing approach. You get more cash for scuttling the boat and claiming it as lost than you do by selling it for a pittance. I did post a C-25 Swinger i found on craigs in my search though - Tall Rig, custom trailer $4K - If only I had some spare change lying around...

Edited by - on

Steve Blackburn
Master Marine Consultant

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Canada
1091 Posts

Response Posted - 04/01/2009 : 12:12:45

Good point on the journalist trying to sensationalize this. To have a better picture we would need to compare the figures on number of abandoned boats during non-recession times. I imagine they wouldn't be that far apart considering that each year brings a load of non-seaworthy boats that would cost more to repair than the value of the boat itself. Abandoning the boat is certainly much cheaper than hauling it out and trashing it.

Even cheaper is to just give the boat away or sell it at $500 or something. Everything points to the fact that these abandoned boats are in such bad shape that no one even wants to take them over for "free". It is highly probable that most owners of such decrepit boats (considering that most are very tight on budget) choose to abandon or scuttle these instead of paying to dispose of them.

Edited by - Steve Blackburn on 04/01/2009 12:19:36

delliottg
Former Mainsheet C250 Tech Editor

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USA
4479 Posts

Response Posted - 04/01/2009 : 12:52:32

What surprises me are the all-but-abandoned boats at my marina. Directly across from our bow is a 16-18' Boston Whaler that looks like it's in pretty good shape if you discount the years & years of marine growth on the hull, including mussels. You could probably clean it up for less than $2k (complete SWAG), and have a pretty nice runabout. It's never moved since the day we moved in. In the summer a nice little tree grows from the engine well. Next to us is a sailboat that we've only seen move once, and it had to be towed back in when it did. Next to it used to be another derelict boat, but it's gone & replaced by a 24' Bayliner who likes to play bumper boats.

In our marina, you have to do a $5k buy in, plus normal monthly fees, plus you have to have $500k in insurance, as well as current registration. For some of these boats it must be cheaper to just abandon them, or take them out & sink them. At least you'd get part of your $5k back, and you wouldn't have the insurance or monthly fees to pay (and I could get a better slip).

If I had a lot of time on my hands, I'd consider offering to take over the Boston Whaler to have a nice runabout.

Edited by - on

PCP777
Master Marine Consultant

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USA
1225 Posts

Response Posted - 04/01/2009 : 13:01:42

I just read this article and was going to start a thread. Having just recently bought my Catalina 25, I didn't see really any ads for people giving up their boat or bargain basement prices on any of the online resources I was using to shop. I did however miss out on a few boats that were snatched up before I had a chance to act. (Which I'm thankful for.)so the market is still pretty healthy as far as I can tell, at least here in Texas. Most of the boats that I saw that were in my price range were fairly junked up, especially down below. I got lucky and picked up my 1979 C 25 TR/FK for $6K, and she's in real good condition. hardly a "fire sale" though.

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PCP777
Master Marine Consultant

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USA
1225 Posts

Response Posted - 04/01/2009 : 13:09:48

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by delliottg
 What surprises me are the all-but-abandoned boats at my marina. Directly across from our bow is a 16-18' Boston Whaler that looks like it's in pretty good shape if you discount the years & years of marine growth on the hull, including mussels. You could probably clean it up for less than $2k (complete SWAG), and have a pretty nice runabout. It's never moved since the day we moved in. In the summer a nice little tree grows from the engine well. Next to us is a sailboat that we've only seen move once, and it had to be towed back in when it did. Next to it used to be another derelict boat, but it's gone & replaced by a 24' Bayliner who likes to play bumper boats.

In our marina, you have to do a $5k buy in, plus normal monthly fees, plus you have to have $500k in insurance, as well as current registration. For some of these boats it must be cheaper to just abandon them, or take them out & sink them. At least you'd get part of your $5k back, and you wouldn't have the insurance or monthly fees to pay (and I could get a better slip).

If I had a lot of time on my hands, I'd consider offering to take over the Boston Whaler to have a nice runabout.
<hr height="1" noshade id="quote"></blockquote id="quote">

I do see the same thing in my marina as well. I've never seen anyone at the Hunter next to us and it's falling apart.The boom is just laying on the cabin house etc. There's a bunch of sailboats that I see that never seem to move and are covered in bird crap. There's one little sailboat that has it's jib hanked on the forestay and exposed, hanging down in the water and it's been like that since we got our boat which has been about a month and a half. It kind of disgusts me, who would leave a boat like that? Our marina is considerable less expensive though, it was less than $500 for deposit, first and last and it's about $150 a month.

Edited by - on

Dave Bristle
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Djibouti
10005 Posts

Response Posted - 04/01/2009 : 13:25:30

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Steve Blackburn
 ...Why are we not seeing fire sale prices on boats on yachtworld? Is it because most are sold from brokers?<hr height="1" noshade id="quote"></blockquote id="quote">It's because they all are. Yachtworld is for brokers only. Boattrader.com takes private listings.

Edited by - Dave Bristle on 04/01/2009 13:27:22

dlucier
Master Marine Consultant

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Virgin Islands (United Kingdom)
7583 Posts

Response Posted - 04/01/2009 : 14:05:21

Around my neck of the woods, marinas are littered with boats on the hard that are abandoned and every once in a while, someone gets the chainsaws out and cuts them into little pieces. I knew of a guy who had a Chrysler 26 who just let the boatyard assume possesion since he owed more in storage fees than the boat was worth. That apparently happens quite a bit because the back forty of the boatyard where they store the derelicts increases in size every year. Although these are mostly vintage 60's or 70's wooden powerboats in the 40ft range, there are still a smattering of sailboats as well.

Edited by - dlucier on 04/01/2009 14:05:58

skrenz
Captain

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USA
351 Posts

Response Posted - 04/01/2009 : 15:02:58

I just cry reading this. I would have gladly picked up on somebody's "derelict" if just for parts. Take winches for example. I have looked and looked for used winches and I can't find any either on the web or in stores near marine communities. Yet after hurricanes and now you keep reading about all these destroyed or abandoned boats. But never any used parts.

Edited by - on

PCP777
Master Marine Consultant

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USA
1225 Posts

Response Posted - 04/01/2009 : 15:09:17

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by skrenz
 I just cry reading this. I would have gladly picked up on somebody's "derelict" if just for parts. Take winches for example. I have looked and looked for used winches and I can't find any either on the web or in stores near marine communities. Yet after hurricanes and now you keep reading about all these destroyed or abandoned boats. But never any used parts.
<hr height="1" noshade id="quote"></blockquote id="quote">

You'd think someone would want to salvage them or the parts.

This subject came up between myself and a friend of mine after Ike came through. We were going to drive down to the coast and see if we could pick up an abandoned boat. In fact, he's the one who emailed me this article, he never knew I bought the C-25.

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dmpilc
Master Marine Consultant

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USA
4593 Posts

Response Posted - 04/01/2009 : 15:10:24

Keep checking ebay. Won't be long before some of these derelict boats get parted out.

Edited by - on

redviking
Master Marine Consultant

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USA
1771 Posts

Response Posted - 04/02/2009 : 07:15:01

Sadly, the numbers are increasing - every yard has take away boats for $500. We spent a lot of time at Hinckley Yacht Services recently and were astonished at the direlicts in their yard! 35 footers that could be had for $500 - interior not included. Owners with big plans that never got anywhere. But the numbers will go up. We were next to a Morris 52, worth at least a mil, and the owner asked the yard if he could divide up his $8K bill into thirds. Then he cast off and was not heard from again - so far.

Now is a great time to buy a used vessel, owners are hungry, marinas are hungry, yards are hungry. Layoffs and bankruptcies are already impacting the marine industry. Soon this could all just go away.

We see it out here. Yards crying for work, laying off workers because the owners are just not doing anything right now. The boat doesn't get used nor maintained and after awhile it is under water, as in it will cost more to fix than it is worth. The the owner just stops coming into the yard for work, because he knows that he needs more than he wants to buy. A cyclical situation for sure.

sten
SV Lysistrata - C&C 39 - Fernandina Beach FL
DPO Zephyr - C25 #3220 - FK, SR

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PCP777
Master Marine Consultant

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USA
1225 Posts

Response Posted - 04/06/2009 : 16:54:12

I haven't finished the article but the first video is entertaining.

http://www.soundingsonline.com/news/coastwise/231712-abandoned-boats.html

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Nautiduck
Master Marine Consultant

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USA
3704 Posts

Response Posted - 04/06/2009 : 19:30:52

Peter, I get this message from that site:

"Database Error: Unable to connect to the database:Could not connect to MySQL"

I'm using Firefox on a Mac.

Edited by - on

PCP777
Master Marine Consultant

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USA
1225 Posts

Response Posted - 04/07/2009 : 09:38:10

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Nautiduck
 Peter, I get this message from that site:

"Database Error: Unable to connect to the database:Could not connect to MySQL"

I'm using Firefox on a Mac.
<hr height="1" noshade id="quote"></blockquote id="quote">

Wow, their whole site was down, it's back up on the link I provided.

Edited by - PCP777 on 04/07/2009 17:41:13

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