Hurricane Sandy Boat Selling Help / Advice

M

M&M's_Beach_House

New Member
Jun 16, 2009
87
Westfield, NJ
Boat Info
2007 240DA
Engines
5.0L BIII
Hi All,

I am in need of some advice regarding selling or fixing my boat that received a little damage from Hurricane Sandy. My boat (A 2007 Sea Ray 240 Sundancer with low hours) was winterized and stored on the lower rack at my Marina in Brick during Hurricane Sandy. The water level rose enough to flood my bilge. The whole bilge did not fill (maybe a little less than half) up but it was enough to need most parts replaced including the engine due to salt water contamination.

My wife and I received a check from our insurance company that was enough to cover the repair costs (and they will cover more if needed during repairs). However, we are interested in selling the boat to move up to something larger (have been looking for a year or two). Here are my questions:

1- Does anyone know people looking to buy hurricane sandy damaged boats? Our boat has no physical damage except for a little water in the bilge and I'm very surprised I haven't had people looking to salvage boats jump no this one, its a very desired boat on the market these days I'm told too, plus it's a beautiful well kept boat!

2- Do you think if I get the boat repaired, that it will sell or be desirable on the market today knowing it was a hurricane damaged boat? I'm trying to sell it but we would use it as we do every year if we fix it up.

3- Worst case we will repair it and use it again this summer but we are interested in knowing if anyone has any experience with auction houses in NJ? If so, can you supply us some info on these as most I have spoke with only deal with insurance companies, etc.

Thanks for the advice, we are torn on when to get our boat repaired as we would prefer to sell it as is today!

Video from launch day last year!

https://vimeo.com/40503671
 
Last edited:
M&M's_Beach_House said:
Hi All,

I am in need of some advice regarding selling or fixing my boat that received a little damage from Hurricane Sandy. My boat (A 2007 Sea Ray 240 Sundancer with low hours) was winterized and stored on the lower rack at my Marina in Brick during Hurricane Sandy. The water level rose enough to flood my bilge. The whole bilge did not fill (maybe a little less than half) up but it was enough to need most parts replaced including the engine due to salt water contamination.

My wife and I received a check from our insurance company that was enough to cover the repair costs (and they will cover more if needed during repairs). However, we are interested in selling the boat to move up to something larger (have been looking for a year or two). To break even on our boat loan, we need to sell her at $8,000 and we are willing to do so but have yet to find a buyer (surprisingly!). Here are my questions:

1- Does anyone know people looking to buy hurricane sandy damaged boats? Our boat has no physical damage except for a little water in the bilge and I'm very surprised I haven't had people looking to salvage boats jump no this one, its a very desired boat on the market these days I'm told too, plus it's a beautiful well kept boat!

2- Do you think if I get the boat repaired, that it will sell or be desirable on the market today knowing it was a hurricane damaged boat? I'm trying to sell it but we would use it as we do every year if we fix it up.

3- Worst case we will repair it and use it again this summer but we are interested in knowing if anyone has any experience with auction houses in NJ? If so, can you supply us some info on these as most I have spoke with only deal with insurance companies, etc.

Thanks for the advice, we are torn on when to get our boat repaired as we would prefer to sell it as is today! If you know anyone looking for a beautiful boat, this one would be perfect and great deal at $8,000 because all we want to do is break even on our current loan.

Video from launch day last year!

https://vimeo.com/40503671
Click to expand...

M&M, Hope all is well. If you already got a check for the damages to your boat from your insurance and you are looking to offload your boat you can call www.cooperss.com and they will buy the boat off you. They are a salvage company and won't buy the boat for much most likely but if you are looking for 8000 that might work. Calling them and asking won't hurt. They are the ones that took care of the my boat after it was totaled. Good luck and let me know if you need anymore details. FYI... My brother in law who's insurance company gave him a check for the damages to his boat was told it's yours to do with what you want. Either fix or sell but the check they got was it. So he called www.cooperss.com and they worked out a deal and bought the boat off him. Picked it up the next day.
 
Last edited:
Alvin,

Thank you, that info is MUCH appreciated!! I called and left them a message and its exactly the type of thing we want to do. If I can break even on the boat (or very close to it) it's worth it to me to sell it as is because even if I fixed it up, I would probably be close to breaking even on a sale after dealer commissions, etc.. Thanks again!
 
M&M's_Beach_House said:
Alvin,

Thank you, that info is MUCH appreciated!! I called and left them a message and its exactly the type of thing we want to do. If I can break even on the boat (or very close to it) it's worth it to me to sell it as is because even if I fixed it up, I would probably be close to breaking even on a sale after dealer commissions, etc.. Thanks again!
Click to expand...
No problem buddy. Let us know how it works out. What are you thinking of buying? New or used? If you are going to get from Marine Max of Brick or something along those lines let me know, Maybe we can get them to lower the price more by saying both of us are buying??
 
If the hurricane damage caused a depreciation of value shouldn't insurance cover that as well?

In my opinion you are in a prime situation. You already want to sell and the insurance has admitted they are liable for damages. Any difference between your actual selling price and fair market value should be made up by insurance.
 
magstang1 said:
If the hurricane damage caused a depreciation of value shouldn't insurance cover that as well?

In my opinion you are in a prime situation. You already want to sell and the insurance has admitted they are liable for damages. Any difference between your actual selling price and fair market value should be made up by insurance.
Click to expand...
I would think this would be ONLY if the boat gets repaired
 
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