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Maddoff loses Boat

 
 
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Old 11-15-2009, 07:15 AM   #31
Henning
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Join Date: Sep 2009
Location: Currently in Brisbane AUS
Posts: 151
Quote:
Originally Posted by Capt J
It doesn't look any better in person. Think of about 500 boats that are stacked up in there. They see ZERO maintanence until they're sold.......they don't even so much as wash them. I find it ironic that they could probably eak out 20% more for their boats if they actually kept them maintained and washed........but they don't........it is located right next to I-95 overpass and within a week they're covered in black soot and only get worse from there.......

LOL, yeah, there's another indoor facility down the road as well for trailerable boats. I've picked up a lot of boats for them over the years. The maintenance issue is actually up to the bank that had them repoed or agency that that has them under arrest. They get whatever work done on them that the contractee authorizes. Many of the boats are on hold befor sale or waiting on disposition from the courts. Many are returned to the owners after the litigation settles, and sometimes that is months and even years. Larger vessels are often seized in situ and a custodian will go live on it until the court releases it, I even babysat a cruise ship a couple of times. In the mean time, only the work necessary to keep them from sinking is authorized. Most of the repos are in pretty sorry condition when they're picked up. Often it would take a day or twos work just to get them running and I'd have to get a diver to scrape a couple of years worth of growth off the bottom. Most people who can't make their payments aren't spending money on caring for the boat either.
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