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  1. #1

    Determining Actual Cash Value

    I guess there is no easy way to dance around this subject, but the divorce dance I've been doing for the past 3 1/2 years has come to an end as the music has stopped. With that, I find myself in the uncomfortable position of mediation and trying to decide what's worth what and what's fair before a judge does that for me.

    So here is the question... in this market, how does one go about determining ACV on a couple of old Hatts?

    This is not going to be a forced sale situation, but I need to come up with realistic figures. Feel free to answer here, but PM's are always good. Given this is a public forum, they might actually be better. Emails are always good too.

    Thanks.
    Randy Register - Kingston, TN
    www.yachtrelocation.com
    www.Safes4Guns.com
    aka Freebird aka Sparky1
    1965 41DC #93

  2. Re: Determining Actual Cash Value

    Get ahold of a broker you trust and get actual sale prices for boats similar to yours (year, model and condition.)

    That's the closest thing you're going to get to "Actual Cash Value" IMHO.
    http://www.denninger.net - Home page with blog links and more
    http://market-ticker.org - The Market Ticker

  3. #3

    Re: Determining Actual Cash Value

    Get ahold of our broker in residence for numbers
    Noel Russell
    40' MY Aft Cabin
    Lincoln Harbor NJ

  4. #4

    Re: Determining Actual Cash Value

    Call Weinstein & Fluxgold. When I got divorced, the ex was entitled to half the storage, insurance, and improvements made to the boat AND house for the 6 years we were married. I owned the house and boat prior to the wedding. Pre marital property here. She was also good for 1/2 of my 401k for six years as well...
    She opted for option #3 and just getting out PERIOD. I had some dirt on her that she didnt want to surface. It cost me ZERO. rebel

  5. #5

    Wink Re: Determining Actual Cash Value

    I know it sound perverse, but, might be a good idea to get her lawyer to come up with his valuation, then, you can spring real values on him later after you do real due diligence, if his value is really high, let her have the boats .......and that becomes part of cash settlement value......worth a looksee.....

  6. #6

    Re: Determining Actual Cash Value

    Floating, running, original unmolested 58 Tri Cabin 1975 in Vero Beach "Miss Sue B II" sold/closed in May for $48,500. Its posted on soldboats. You can do the math on what it's worth with a bad engine.
    Eric
    41TC 1966 Hull #53 "Requisite"
    Kent Island, MD/Ft. Lauderdale, FL

    "Though she creaks - She holds"

  7. #7

    Re: Determining Actual Cash Value

    Randy,

    Might want to keep the tri....

    Noel

    Pull the engines and you get more storage!
    Noel Russell
    40' MY Aft Cabin
    Lincoln Harbor NJ

  8. #8

    Re: Determining Actual Cash Value

    Or build a kids room in there.
    Scott
    41C117 "Hattatude"
    Port Canaveral Florida.


    Marine Electronics and Electrical Products Distributor.

  9. #9

    Re: Determining Actual Cash Value

    I like the idea of inflating the value, then giving them to her as part of the settlement. You keep the cash and marketable securities and use that to buy another boat. With prices this low, you should be able to get just what you want.
    Sky Cheney
    1985 53EDMY, Hull #CN759, "Rebecca"
    ELYC on White Lake--Montague, MI

  10. #10

    Re: Determining Actual Cash Value

    What I want is just out of boating, at least for now. My business is dead and I have no business owning a large boat. I am fully aware that the actual cash value of anything is what somebody is willing to pay at the point you need to sell. The way I see it, I'll come up with some numbers (that one from Eric hurt), and put them on the table. There is a local broker who I have known personally for over 25 years, so maybe he can help too. If she or her attorney think they are worth more than that, then I will be happy to have her own one or both of them along with the expense of having them just sit. As I told her, until they sell, they are liabilities, not assets. That only fuels the fire.

    I can't seem to make the wife understand that I didn't overpay for these boats, and that the market has simply crashed. The same would have happened had we bought a beach condo in Florida at a smoking price only to find it is worth 40% of what we paid for it in today's market. The trick is not to sell in this market as to avoid a large, guaranteed loss. The way I see it, if something was worth to us what we paid for it at the time, we should just keep it and use it as was intended rather than second guessing the purchase. Unforntunately, divorce changes such logic.
    Randy Register - Kingston, TN
    www.yachtrelocation.com
    www.Safes4Guns.com
    aka Freebird aka Sparky1
    1965 41DC #93

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