Scrap it or save it. Need advice!

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info4all
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Scrap it or save it. Need advice!

Post by info4all »

They recovered my boat from the marina and the insurance company is calling it a total loss. They want to scrap the boat and I need advice.

If they scrap the boat I walk away with 13k. If I keep the boat I will have even less.

I don't currently have a trailer for the boat, but my diesel truck can handle pulling it. What would you do? The current trailer is rented until Friday. It seems like the insurance company is trying to rush my decision even though the boat had been sitting underwater for 2 weeks and they are just now providing me the options.

I am willing to buy a trailer and permit to bring it home to work on.

I may also need the boat as evidence because I'm not sure if there is a potential liability suit.

All thoughts and opinions welcome

Thanks
David
Louisville, KY
1976 32' Sedan
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GB49
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Re: Scrap it or save it. Need advice!

Post by GB49 »

Scrap it.
You will put more than 13k into restoration and will never get anywhere close to the restoration amount in a future sale.
Take the money and run.
1986 Sedan 32'. Twin Chrysler 360in^3, 275hp.
Forum member since 1998.
Fastjeff
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Re: Scrap it or save it. Need advice!

Post by Fastjeff »

Have to agree. The lawyers would eat up anything you might get. Use the $$ to buy another nice Marinette! Lots of them out there.

Jeff
"We live at the bottom of an ocean of air, not at the top." General Marvage Slatington
barefoot99
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Re: Scrap it or save it. Need advice!

Post by barefoot99 »

Grab the money and get another as Jeff mentions

"Do you want to work on a boat or go boating "

Hate to lose one, but
SUP !
1982 32 Sedan FB
2269 hrs
360's-Edelbrocks, DUI
Raw water cooled
Norris Lake
Speedwell,TN.
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GB49
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Re: Scrap it or save it. Need advice!

Post by GB49 »

Curious what the insurance company will let you take off the boat before they scrap it. If you plan on getting another Marinette maybe you can remove hardware/windows etc., that could be useful on the new boat?
1986 Sedan 32'. Twin Chrysler 360in^3, 275hp.
Forum member since 1998.
Fastjeff
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Re: Scrap it or save it. Need advice!

Post by Fastjeff »

By all means if you are allowed to strip the boat first, do so! Not only will that get you more $$ for the new boat it will help the rest of us Marinetters.

Jeff
"We live at the bottom of an ocean of air, not at the top." General Marvage Slatington
info4all
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Re: Scrap it or save it. Need advice!

Post by info4all »

Just to follow up. Sorry I have been in a bit of a depression. I scrapped the boat. I wish I would have thought about grabbing the windows and such. The whole day was a roller coaster when I was grabbing my stuff. Mid way through the day I was told I could keep the boat free and clear with the money, but again I would need a trailer a place to store it and it seemed like a lot of work I should not spend my time and money on. I almost bought the trailer from the salvage company for 17k, but it seemed to added complexity to my life and this year I was trying to make my life simpler.

Apparently my boat was rescued the week before but no one told me (I'm 2 hours away and had no physical way to check). While my boat was sitting unprotected in a parking lot, someone helped themselves to my tools and fishing gear, which was locked inside the cabin, but the cabin was opened. I spent about 6 hours rummaging through the oily mess, collecting what few items survived. Sorry for failing the community. It has been a rough start to the year.

Thanks for the feedback and support!
David
Louisville, KY
1976 32' Sedan
Rockit
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Re: Scrap it or save it. Need advice!

Post by Rockit »

Sorry to hear that and we sympathize. But I think you did the right thing. The theft sounds unavoidable.

I haven't shopped for one in a while, but $17k seems pretty steep for a used trailer. I'd bet you could get a brand new top-of-the-line aluminum trailer for less so it seems to me you did well under awful circumstances.

Unlike their plastic counterparts that have to be sent to a landfill, an aluminum boat can be recycled so that's some consolation I hope.

Good luck and I hope the rest of the year is better for you.

Joe
Joe Napoli
1977 28' Express
Twin raw water cooled 318s
Beaver River--near mile 25 on the Ohio
javalin390
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Re: Scrap it or save it. Need advice!

Post by javalin390 »

A truly sad story. I have been tracking and studying Big M's since I purchased mine 8 years ago. These are THE best pleasure boats ever made, period. I tracked the sad story, online, of a 37' that sunk while docked. Can't remember her name, but the hull was painted dark blue, gorgeous boat. I found photo's online, in its glory days, then saw her get progressively worse. As she sat in the boat yard, the chrome railings would disappear, along with other trim. The last I saw of her, she was completely stripped, just an aluminum shell up for auction on ebay with a starting bid of $1000. Not sure what happened to her from there, but it makes you wanna cry.
Sorry for your loss, I know I would be devastated if I lost mine. Being the redneck that I am, I would've drug her home and dry docked in the front yard if necessary. But I understand, for most of us, time and money are major factors in this kind of situation (overwhelmed and frustration too ! ). I'm the fellow that took a trip to Maryland and checked out the 60" Marinette that is "rotting" away, being dry docked for several years. Sad to say, but I'm afraid if no one buys that one, she too will be scrapped. Had an "old timer" once tell me, "you can't save 'em all", when talking about a nice old car that was being scrapped, just wish we could....
Jim Elias
1974 37' SedanFlybridge
Twin 360 Chryslers.
Marblehead, Ohio
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