Salvage value on a wrecked boat?
 

Hi Guys,
I'm not sure if this thread should be here or in the General Discussion, but here goes.
I had an accident last weekend, boat vs. big wave, and the boat came apart. Long store short the deck separated from the hull and she is a total loss.
Fortunately my passenger and I were not seriously hurt.
Anyway, this week I hope to settle with the insurance company and I will have the option of keeping the boat for the salvage value.
Now I'm not sure what it is worth so that is my question.
How much should I pay to keep the boat to part it out?
The boat is/was a 1997 24' Superboat, 1997 502MagMPI with approx 650 hours total with 150 on a rebuild, 2004 Bravo 1 gimble and out drive, Full hydraulic twin ram steering, and 280K-planes.
I believe the engine and drive are fine as I did power the boat back to the dock.
Thanks,

How bad is the damage? Post some pics , you never know some of us are pretty handy at doing glass work.

Drive train no more than 3-4K

How much to dump it?

I would say it depends on the price they give you and how much work you want to do stripping the parts and selling them. Drive and engine are probably worth 6-7k and the rest is probably worth another 2-3k.
You also have to figure in the cost of getting rid of the boat after its stripped.

No fixing this boat, take my word on that. It would need a new deck from the manufacturer for starters, and I would never trust the hull again after all of the delaminating.

Yea, I was thinking 3-4K is the highest I'd go depending on if the trailer is part of the deal.

I may sell it off, but that is a question for after I know if I'm keeping it.

Make yourself and open bow!:party-smiley-048: If you don't like that idea.... I wouldn't give more than $3k to buy it back. You may be able to get $8-10k out by parting it but like said earlier, gotta figure in disposal fee after stripped and your time dismantling everything to sell.

I have bought stuff back from insurance compaies many times. Know that their offer is just that, and offer. You can barter with them.

Jon

Wow, what kind of wave did you hit and how fast?!

Glad to hear you are alright! Post some pictures. Must have been a real bad landing. Those Superboats are built well!

Thanks, we are healing both inside and out.
Well I did post some pictures in the Superboat forum and it created a lot of controversy so I deleted the thread.
I hit a powerboat wake pretty hard. Your Pantera brothers T-Mone and Madison saw the accident.
As for how well built Superboats are, well, IMO mine was not built that well.
From your replies, I think I have a good idea what the stuff is worth.

Don't forget your still going to have to pay a garbage company for a container to put the fiberglass hull in for disposal.

Vary good point.
If I keep the boat and strip it, I'll create a pole what do with the hull. Could make for some winter time fun.
My buddy Bob, that was with me, wants to have at it with his backhoe...:D

Post the pictures, you didnt blame Superboat!!! It was a wake regardless!!

They are on my computer at home. I'll post a couple tonight.

Here are some pics.
As you can see the hull is done.
The running gear should be good for another boat.
Ins still working on numbers...:rolleyes:

A few more...

I'd seal that baby up, sink it in the ground, and make a phat hot tub out of it.

Ouch!!!!!!!!!!!:eek:

I'm interested in the swim platform and possibly the K planes.

Sorry to hear about the accident but glad you're ok.

I'd be interested in the K-Planes as well for my Formlua 292.

Glad your ok Pat, I wouldnt think the hull would cave in like that on just hitting a wake?

goodluck

stuffed???????

The deck likely came off first. Then without the support of the deck, the side caved in.
Lots of theories of why the hull failed have and are being bounced around.

Yes...
I got caught by surprise and hit a large power boat wake running pretty hard.
We got some air of the first wave, and then the second tripped the boat sending the nose into the 3rd.

I may put it up for sale as is for $5000.
If I part it out, I'm thinking I could sell the stuff for $6000 to $8000.
Or, I could keep most of the parts for another hull.
Still no numbers from the insurance company yet though.

Let me know if you part it out, I would be interested in the hydro steering.
Good luck.

Well, the insurance company put a salvage value of $6250 on the boat.
I told them at that number, take it away...
More to come?

Can you find out where it goes to? Maybe the yard wills sell the parts off? Did you try a counter offer?

You can cu that boat up with a chainsaw and put it into a dumpster. Most boats like that will fit into a 40 yard roll off once they are cut up.

Good luck with your salvage. You should re offer at 3k.

Tomorrow when I talk to the adjuster, I will teller her that no one in their right mind is going to give them more than $3500 for the wreck.
Great idea, if the insurance company does not take my offer, maybe the yard that picks up the boat the boat will.

Well, I was able to make a deal for a lot less today.
At this point, I plan to keep the running gear and steering for another boat/hull.
Some parts, I will put up for sale.
Thanks for the input...

Pat let us know what your going to sell off of it

Well, The swim platform and interior for starters.

wow:eek:

Wow that must have been one hell of a cruiser wake! From the look of it there wasn't any type of adhesive between the deck and the hull, just the rivets. From what I could tell on some of the Superboat buildup threads it looked like the gel was left off the top part of the hull until the deck was on then it was glassed on from the inside. Was that not the case with this boat?

That's too bad Pat, from what I've seen on this board you loved that boat! :(

No, the hull and deck joint was not glassed together in the bow area. I don't believe the quality of my boat is representative of the boats being produced in their shop today.
Yes, I did love my Superboat...:(

I'm a buyer for the seats, assuming it had stand up bolster seats.....

email me at
[email protected] if the interior is avaliable

Pat, I am sorry to hear this! But the number one thing is you and your passenger walked away. Chit happens fast out there. Glad you are okay!

I sent you a PM.

Glad your OK make it a centerconsole,lotsa resin only a 150 after that then block isl tripps