There’s no dearth of websites that sell salvage boats for sale at affordable prices. These boats or yachts are damaged to an extent where the cost of repair goes beyond their current value. Even the repairs performed on these boats, at times, may not restore the boat to its original condition.
Many of the wrecked boats auctions sell the boats on "As Is, Where Is" basis, which implies these boats don't come with any warranty and might work well or not work at all after you buy them. Usually a mass auction is held at one location to sell the damaged boats. Buying a salvaged boat might look like an absolute mess to a first-timer, so here are a few things you need to consider to make the right decision.
How to Start?
You need to figure out the things you need in a boat. The boats may be damaged due to various reasons and might require different repair approach. If the boat sank in salt water, for instance, the electronics and engines might need a replacement. The owner may also have to work on the wires, fabrics, seats, beds and other electrical equipment. Before placing your bid, ensure that you decide whether you need a big or small boat, new or an old model and other specific details to ensure that you select something that meets your requirements.
Decide a Budget
After you have shortlisted the type of boat you are looking for, decide a realistic budget. You may refer to the Abos Blue Book and NADA to figure out the value of the boat after it has been restored. Check whether you need professional help to repair the boat and calculate the cost of the parts, labor and sales tax to get an estimate about the overall expenses you need to incur.
Inspect the Boat
A survey ascertains you about the extent of the damage and the net worth of the boat before you place a final bid. You might, however, be unable to calculate the exact repair cost of the boat as some of the problems may arise only while using the boat.