Sail - July 2018

JULY 2018

for some help.

If you are not familiar with boat construc-

tion or skilled at doing major repairs, I would

strongly suggest that you hire a professional to

both help evaluate the extent of the damage and

help determine how much it will cost to repair.

Many boats may have hidden damage that is not

easy to i nd right of. As mentioned before, you

will want to have a good feel for a boat’s pre-loss

condition as well. h ere’s no point in buying a

boat you hope will be a quick i x only to i nd out

there is major hull core damage!

Keep in mind when inspecting any vessel

that you need to have the owner’s or insurance

company’s permission to board and that your

time aboard may be limited. Use caution when

boarding, as there can be hazards from the

damage or contaminants. Always wear shoes

and protective clothing when inspecting a boat.

Not all storm damage is easily repaired, and

some boats are to be avoided as a matter of

course if you want to come out ahead. For the

most part, I suggest staying away from any

boat that has been submerged, even if it is only

a partial submersion, since the extent of the

damage from water intrusion can be dii cult

to fully evaluate in the short time most bidders

are given to inspect a boat. Boats that have

been grounded can also have hidden dam-

age, with repairs to rudders and running gear

being particularly expensive. Boats with dock

rash or which have had collisions with other

boats or i xed structures are ot en your best bet.

Rig damage can also be relatively easy to i x,

although parts can be expensive.

Once you have found a boat you are comfort-

able with possibly repairing, it is time to look

at the numbers. In fact, this is vital. Before you

even think about placing a bid it is important to

know your limits and stick to them, since it can

be all too easy to get caught up in the excite-

ment of the whole process.

h ere are two key numbers to keep in mind:

the i rst is what will the boat be worth once the

repairs are complete; the other is the cost to

make said repairs. Whatever estimate you come

up with, double it just to be safe. Don’t forget

to add in closing and transportation costs. h at

done, subtract the repair cost from the estimated

i nished value and you have your maximum bid.

h is should not only be your top number, but the

one you stick to, no matter what.

In addition, be warned that purchasing

a hurricane boat is ot en not a simple task,

and there are some pesky bureaucratic black

holes to watch out for. As noted earlier, most

insurance companies will contract a company

specializing in liquidating its insured assets.

However, while some of these companies

specialize in marine work, many do not. h e

larger of these are organizations are ot en very

professional and will do their best to help you

out, but not always, and some smaller, local

companies may be downright disreputable.

Before placing any money on the table, so to

speak, know who you are dealing with.

No matter who you are dealing with, make

sure you fully understand what you are buy-

ing. Make sure the seller has the right to sell

the boat and that you will get the title free

and clear. h at free and clear part is especially

important as you do not want to end up with a

salvage or yard bill when the auctioneer’s gavel

hits the block and you become the new owner.

Make sure you read and understand any con-

tracts before bidding. Any reputable company

will be happy to provide you with a copy of

the sales contract prior to doing so. If there are PHOTOS BY

PETER NIELSEN

BOAT WORKS KNOWHOW

Arranging a professional

inspection is vital to ensuring you

don’t end up owning a money pit

More often than not, repairing a

storm-damaged boat is beyond

the ability of most DIYers