Damaged boats for sale

There has been a recent increase in demand (and supply) of damaged boats for sale. The increase in bad weather and insurance companies ‘writing off’ yachts for auction has seen to this new raised interest in damaged boats.

Purchasing a damaged boat can be a good way to buy a yacht that would otherwise be many times the price. Obviously, however, the boat needs to be fixed and this can cost a lot of money and time. When the boat has been completely mended she will probably not be worth quite what she was if she never had the damage in the first place. It therefore pays to do a lot of research about the market but also the particular yacht you are looking at before making a decision.

One way to minimize risk is to have a shipwright do a survey of the boat and submit a tender for the full restoration of the yacht. Obviously if all the expenses plus the purchase price of the boat are going to be much less than the market value of the yacht when fixed, you are on to a good thing.

Forbes.com has a good article on damaged boats for sale and yachtSalvage.com is a good North American site and has a no-nonsense list of damaged boats you can bid on.