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Thread: 70 Hatteras Sinks
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Re: 70 Hatteras Sinks
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01-09-2022 11:29 AM #53
Re: 70 Hatteras Sinks
FYI:
Received a email from Brett. He's been researching the status of this boat.
Chubb Insurance has denied the owners claim, he feels that it's headed for litigation.
Have no additional information.
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Re: 70 Hatteras Sinks
The 74' is also on Yachtworld with a 135k ask, and open to offers. It says the bottom has been peeled, but it looks like a soda blast to me. The few pictures of the interior look likes somebody went paint crazy. But looks like it might be a very appealing project if you've got a broad skill set, and a big wallet.
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01-09-2022 07:42 PM #56
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01-09-2022 08:13 PM #57Registered Member
- Join Date
- Apr 2008
- Posts
- 23
Re: 70 Hatteras Sinks
It's the boat owners responsibility to preserve the asset or once an insurance claim is put in, the insurance company bears responsibility. To me the latter doesn't make sense.
Was there a salvage claim in the mix/someone claiming it as their property. Always scary when you're in distress. Maritime law provides for that claim. I thought the insurance company mentioned, Chubb, had a reputation for paying claims more than denying them. The yard that has it, gets paid by who when there is a "no pay"?
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01-12-2022 09:54 AM #59
Re: 70 Hatteras Sinks
I have never understood the guys who buy a salvage boat for $100k and put 5 years of their life and $500k into it just to have a $500k boat when they’re done. Not only do you not save any money, you will never get back the years of your time you put into the project that you could have been out boating if you’d just bought one in good shape off YachtWorld. That low price on the salvage listings is like kryptonite to some people, they just can’t overcome it.
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Re: 70 Hatteras Sinks
"DON'T BELIEVE ANYTHING YOU READ OR HEAR AND ONLY HALF OF WHAT YOU SEE" - BEN FRANKLIN
Endless Summer
1967 50c 12/71n DDA 525hp
ex Miss Betsy
owners:
Howard P. Miller 1967-1974
Richard F Hull 1974-1976
Robert J. & R.Scott Smith 1976-present