damaged sailing yachts for sale

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1976 Morgan Out Island 49 (Mystique)

Best ways of finding yacht salvage boats for sale, ideal theft recovery boats for sale.

Salvage boats for sale are a welcome choice for anyone who does not mind paying repairs to get the boat back to its normal condition. There are times when things do not go as planned and boats are damaged, but it is still possible to salvage them. Yacht Salvage is often sold at very low prices because at most times, the owners are simply trying to get rid of them.

Insurance companies and owners usually give hurricane damaged boats for sale and theft recovery boats for sale at Salvage boat auction in the coastal areas after major storms or other natural disasters take place. A good example of such an occurrence is hurricane Dorian that hit the Bahamas. This is an event that had a great impact on the properties that had been set up in the area and this included boats and houses. The sales skyrocket after the hurricane as the residents counted their losses.

Ideal wrecked boats for sale

Most people who choose to buy salvage boats for sale usually take them to people with skills to do the repairs. In some cases, the people who make the purchases already have the resources and the skills that are needed to make the boat as good as new if not better.

There are abundantly used theft recovery boats for sale across the nation that may be willing to pay bottom-dollar for an old boat if they think it might hold potential for a refit and then resale. If you can pull your boat to them on its own trailer you stand a fair chance of getting a buck or two for that old rig – after all, if you can bring it to them, that means the trailer’s roadworthy and that alone has some value.

Deciding on the best yacht salvage boats for sale

The first thing to do after you find hurricane salvage boats for sale is to find out the kind of condition that the boat was in before the disaster hit. When you have an idea about the kind of condition, the boat was in before the loss occurred. It is very important. You need to think of it as a boat that does not have any damage. This helps you determine whether it was maintained well and whether there were any other damages that existed.

You need to ask all the necessary questions before buying salvage yachts for sale, theft recovery boats for sale, or any other old boat. You need to pick a boat that can be fixed without necessarily working on the entire boat. This makes it possible to know the pre-loss value of the boat and therefore you may place realistic offers or bid.

Considering damage

After successfully determining the pre-loss condition of the Yacht Salvage, you now have to consider the extent of the damage caused by the event that took place. This helps you evaluate the damages and establish what will be needed for the repairs. When you are considering the damage, you should overestimate it.

Types of damage that you can find on salvage boats for sale

You need to understand the damages that could possibly occur to a boat during the disaster. There are different types and they include:

In the case of Submersion, hurricane damaged  boats for sale have the most damage. Submersion damages the entire boat. Electronics equipment may be likely to tumble down by the water, but there is a possibility of saving the  boat engine  if it is taken care of instantly. This time it may be too late to prevent any actual damage and there are chances of hidden damage.

Dock rash happens when the boat rubs against other flutters, pilings, and the docks. Fixing can be done in some cases, but you may have to do some work to access some areas.  You will need some skills repairing this kind of wrecked boats for sale .

Wind damage

Repairable boats could also be wind damaged and this can be noted on the sails and canvas that could be shredded. Structural damage can also be caused by wind. The mast could also fall and cause damage to the deck and the top of the cabin. When there is wind rain, then more damage could occur inside the boat.

Salvage damage

Another thing you could notice when you buy salvage boats for sale. This happens as the container is being recovered. This is because the process could involve considerable stress and strains of drawing the boat from the water and into a vehicle for transport

This is also common and causes damage to the gear and fittings underwater. You may have to check the propeller shafts, rudders, keels, and props. You need to carefully inspect the insides of the boat and ensure you look at the steering system as well.

It is possible for hurricane salvage boats for sale to have one or more of the above damages. This is why a buyer needs to get as much information as possible about the boat that they are buying. You can look for an expert opinion before boat purchase .

Damage on salvage boats/wrecked boats for sale

Buying a boat with known damage is usually forthright, but the buyer needs to be prepared for unknown damage which may reveal itself during the course of repair. I suggest finding a reputable boatyard to affect the repairs. Documentation that the repair was done professionally should settle any prospective buyer’s concerns down the road when it is time to resell. I also suggest having a contingency budget for those unknowns as part of your overall approach. Buying a storm-damaged boat will take some risk, effort, and investment, but can result in keeping a good boat.

Best salvage yachts for sale at a salvage boat auction

Harbor Shoppers is one of the places you can start your search for the Repo salvage boats for sale. We can offer you expert advice regarding the best boats for sale from Yacht Salvage auctions online.

You can also search location-specific keywords on our website such as salvage boats Florida, hurricane damaged boats for sale BVI, junk boats for sale Bahamas , repairable boats for sale Dorian , salvage boats Texas, salvage boats Michigan, storm damaged boats for sale USA, etc.

We can also give an overview of some of the repairs that are necessary to get the boat up and running at a fair price. Also, you can get more information about Catamaran for sale , sailboats for sale , boat auctions ,  trawler boats for sale , small power boats for sale , used fishing boats for sale , used outboard motors for sale , repo boats for sale , cheap yachts for sale , cabin cruiser boats for sale , sailing boats for sale , high performance boats for sale , small boats for sale , cheap boats for sale , used boats for sale , powerboats for sale , monohulls for sale , ferry boats for sale , pleasure boats for sale , used deep v boats for sale , inflatable boats for sale , etc.

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The Worlds Largest Marine Liquidation Company

National Liquidators and National Yacht Sales have handled over 40,000 cases since 1988. Our inventories include bank repossessions, foreclosures, government-seized vessels and a vast inventory of brokerage boats. We maintain an experienced staff at our facilities in Fort Lauderdale, Florida; Newport Beach, California; Cleveland, Ohio; and Annapolis, Maryland.

Current Inventory

Featured listings, live auction vessels.

Find Your Yacht

2023 Boston Whaler 330 Outrage – Stk#39874

2014 ocean alexander 78 motor yacht – stk# 40258, 2020 midnight express 43 open – stk#40204, 2014 sunseeker 68 predator – stk#40079, recently listed, 2022 avalon catalina platinum qlw 2585- stk# 40267, 2017 triton 21 trx – stk# 40346, 2018 robalo 246 cayman – stk# 40289, 2015 sea ray 450 sundancer – stk# 40360, 2020 nauticstar 243 dc – stock# 40231 – online auction, 2021 nauticstar 2102 legacy – stk# 40230 – online auction, 2022 nauticstar 2302 legacy cc – stk# 40238- online auction, submit an offer.

Vessel Details:

Conditions of Offer:

OFFER PROCEDURES

Offers are accumulated weekly through each Monday at 4:00 PM ET. In the event a particular Monday is a Federal Holiday, the deadline is extended an additional 24 hours. The high offer on a particular vessel is submitted to the Seller for consideration the following business day. The Seller, at its sole option, may accept or reject with or without a counter offer. Responses typically occur within 48 hours, no response constitutes a rejection of theoffer.

Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 1 business day to deposit into National Liquidators escrow account, the greater of 10% of Gross Offer or $1,000.

Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 5 business days to complete any and all conditions listed above in the “Conditions Of Offer”. In any case, any remaining amounts due must be deposited into National Liquidators escrow account, within 5 business days after notification of acceptance of an offer (either verbal or electronic). Successful Bidder’s failure to fund the total offer price within 5 business days after notice of acceptance will result in forfeiture of any deposits. In these instances, the vessel will be placed back into the auction cycle.

After funding the total offer price, Successful Bidder must remove the purchased vessel from National’s storage facility within two business days or make storage arrangements with National. Storage charges will accrue on ALL purchased vessels until each is removed from National’s storage facility. Standard storage rates apply; refer to http://www.yachtauctions.com/services for currentrates.

All vessels are sold AS IS, WHERE IS, with no warranties or representations, express or implied, as to condition or fitness for a particular purpose.

NOTICE REGARDING TITLING OR US COAST GUARD DOCUMENTATION

National Liquidators makes no guarantees, representations or warranties as to title or the ability to document or register the vessel. National Liquidators are acting as a broker only and issues as to title, documentation and registration are between the Buyer and the Seller, owner or lien holder. The required $399.00 administrative fee covers National’s efforts to obtain titling and documentation information from the Seller; it does not include transfer of title or documentation to Buyer. National Liquidators can process transfer of title or documentation to Buyer an additional fee. Buyers that are interested in this service can contact National’s title department for details, including charges. Ohio Law requires National to transfer title (not USCG documentation) directly to Ohio residents only, a $150 fee is charged for this service.

IMPORTANT INFORMATION REGARDING SALES TAX

Purchasers must pay sales tax at the applicable rate in their respective states. Dealers that wish to be treated as tax-exempt are required to provide a state sale tax number, valid marine dealer’s certificate, sign a Resale Certificate or Statement for Exemption of Purchase, and any other required documentation.

METHODS OF PAYMENT

All payments required herein must be in certified funds or bank check drawn on a US bank, wire transfer or cash. Personal checks or credit cards are not acceptable.

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Salvage Boats For Sale - Search Results

• Trans: Automatic
• Location: Barberton, OH
• Damage: Undercarriage
• Mileage: 0 Not Actual
• Color: White
• Doc Type: OH - Watercraft Title

• Location: Avon, MN
• Damage: All Over
• Mileage: 50 Not Actual
• Color: Green
• Doc Type: MN - Boat Title

• Location: Harleyville, SC
• Damage: Water/flood
• Doc Type: SC - Clean Title

• Damage: Rear End

• Location: Houston, TX
• Color: Two Tone
• Doc Type: IA - Boat Title

• Location: Louisville, KY
• Damage: Minor Dent/scratches
• Doc Type: KY - Bill Of Sale (no Titl

• Location: West Palm Beach, FL
• Doc Type: FL - Clean Title

• Trans: Manual
• Location: Conway, AR
• Color: Black
• Doc Type: AR - Clean Title

• Location: Lebanon, TN
• Damage: Front End
• Doc Type: AL - Bill Of Sale (no Titl

• Damage: Top/roof

• Mileage: 1 Not Actual

• Location: Longview, TX
• Color: Brown
• Doc Type: AL - Clean Title

• Location: Sacramento, CA
• Damage: Stripped
• Color: Gray
• Doc Type: CA - Clean Possible Title/

• Location: North Las Vegas, NV

• Location: Sun Valley, CA
• Damage: Normal Wear

• Location: Bowmanville, ON
• Doc Type: CT - No Title

• Location: Sikeston, MO
• Color: Beige
• Doc Type: MO - Salvage Certificate

• Location: Prairie Grove, AR
• Color: Blue
• Doc Type: AR - BI

• Damage: Burn

• Location: Pekin, IL
• Damage: Side
• Doc Type: IL - Bill Of Sale (no Titl

• Location: Franklin, WI
• Doc Type: IN - Clean Title

• Doc Type: MN - Bill Of Sale (no Titl

• Location: Charles City, VA
• Doc Type: DC - Watercraft Title

• Location: Lumberton, NC
• Mileage: 515 Not Actual
• Doc Type: AL - Clean Ttl W/ Replacem
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Salvage Boats for Sale

• Title: Oregon Salvage Salvage Title Certificate
• Odometer: 0 Exempt
• Sale Date: 2040-01-01
• Location: Woodburn, Oregon
• Vehicle History Report

• Title: Ohio Salvage Cert Of Title Watercraft
• Odometer: 0 Not Actual Miles
• Sale Date: 2024-04-01
• Location: Barberton, Ohio

• Title: Texas Other Cert Of Title To A Boat
• Location: Houston, Texas

• Title: Minnesota Salvage Cert Of Title To A Watercraft
• Location: Avon, Minnesota

• Title: Florida Clear Certificate Of Title
• Sale Date: 2024-04-03
• Location: Homestead, Florida

• Title: Iowa Other Title Certificate Boat
• Location: Eldridge, Iowa

• Title: South Carolina Clear Certificate Of Title
• Location: Harleyville, South Carolina

• Title: Indiana Salvage Cert Of Title For A Watercraft
• Sale Date: 2024-04-29
• Location: Dyer, Indiana

• Title: Wisconsin Other Boat Atv Snowmobile Reg Cert
• Location: Mcfarland, Wisconsin

• Sale Date: 2024-04-02
• Location: Tifton, Georgia

• Title: Virginia Other Cert Of Title To A Vessel
• Location: Charles City, Virginia

• Title: Oklahoma Clear Certificate Of Title
• Odometer: 131 Not Actual Miles
• Location: Oklahoma City, Oklahoma

• Title: Wisconsin Other Boat Certificate Of Title
• Sale Date: 2024-04-04
• Location: Earlington, Kentucky

• Title: Utah Salvage Salvage Certificate
• Location: Farr West, Utah

• Title: Pennsylvania Salvage Boat Certificate Of Title Salvage
• Location: Ellwood City, Pennsylvania

• Title: Nevada Other Ws
• Location: North Las Vegas, Nevada

• Location: Chambersburg, Pennsylvania

• Odometer: 1 Exempt

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Salvage Boats for Sale - Bid Online

2017 YAMAHA OTHER

• Odometer 0 mi
• Damage FLOOD
• Title Type FL VESSEL
• Sale Date 04/01/2024
• Location JUPITER , FL

1995 ALLIS OTHER

2006 SEADOO SEADOO SUPERCHARGER

• Damage FRONT END
• Title Type DE BILL OF SALE
• Location NEW CASTLE , DE

2017 SEADOO OTHER

• Damage ALL OVER
• Title Type NJ BILL OF SALE *** CANNOT BE RE-REGISTERD ****
• Location ENGLISHTOWN , NJ

2013 BULLET BASSBOAT

• Title Type TN BILL OF SALE BILL OF SALE
• Location CHATTANOOGA , TN

1997 VENTURE OTHER

2016 YAMAHA YAMAHA

• Damage RIGHT SIDE
• Title Type CA CLEAR - DEALER ONLY
• Location SAN DIEGO , CA

2002 MASTERCRAFT MBC X30

• Damage ENGINE DAMAGE
• Title Type OR CLEAR
• Location EUGENE , OR

2020 G3 OTHER

1986 BAYLINER OTHER

• Odometer 1 mi
• Damage MECHANICAL
• Title Type CA JUNK TRAILER SALVAGE CERT #2769748
• Location FREMONT , CA

1974 PEARSON SAIL

• Damage none
• Title Type MA CLEAR
• Sale Date 04/02/2024
• Location East Taunton , MA

2006 ACTION CRAFT OTHER

• Title Type FL VESSEL FLOOD
• Location NORTH FORT MYERS , FL

2006 EVERGLADES BOAT

• Damage REAR
• Location TAMPA , FL

1984 OTHER OTHER

• Damage LEFT SIDE

2021 CROWNLINE OTHER

• Damage STORM DAMAGE
• Location CLEWISTON , FL

1999 CRUISERS YACHTS OTHER

• Title Type NY CLEAR
• Location MEDFORD , NY

2017 SEA RAY OTHER

1989 BAYLINER OTHER

• Damage FRESH WATER
• Title Type NY MV-907A
• Location SCHENECTADY , NY

2010 CHAPARRAL OTHER

2011 LUND OTHER

• Title Type MI WATERCRAFT TRAILER CAN BE SOLD ON BOS
• Location FLINT , MI

2019 SEA HUNT BOAT

• Damage LEFT & RIGHT
• Title Type FL CLEAR

1986 GRADY WHITE OTHER

1996 NITRO OTHER

• Damage TOTAL BURN
• Title Type FL VESSEL HULL DAMAGE
• Location JACKSONVILLE , FL

2018 ALUMACRAFT BOAT

• Damage ROLLOVER

2004 CHAPARRAL OTHER

2000 DONZI OTHER

• Title Type OH ORIGINAL FLOOD

Port of Baltimore suspends ship traffic after bridge collapse: What it means for travel

Travel is being impacted by Tuesday’s Francis Scott Key Bridge collapse along Interstate 695 in Baltimore, Maryland. 

Drivers were immediately directed to take alternate routes through the city, following the early morning incident. What’s less clear is what the bridge collapse may mean for upcoming cruises in and out of Baltimore.

“Vessel traffic into and out of the Port of Baltimore is suspended until further notice,” the Port of Baltimore posted on X, formerly Twitter.

Live Updates: Baltimore's Key Bridge collapses after ship hits it; construction crew missing

Rep. Kweisi Mfume, D-Md., whose district includes the bridge and the port, called the collapse an “unthinkable horror” and said he had spoken with Transportation Secretary Pete Buttigieg and the White House. 

Learn more: Best travel insurance

“They are responding with all of the assets at their disposal,” he said in a statement. “Our prayers right now are for the missing individuals and victims of this tragedy. We thank God for the effective service of our first responders.”

Here’s what we know.

Which cruises go to Baltimore?

Several major cruise lines serve Baltimore. According to the Cruise Lines International Association, the industry’s leading trade group, published itineraries in the 2024 calendar year include a dozen ships making 115 stops in Baltimore.

“We are deeply saddened by the tragedy and collapse of the Key Bridge that occurred last night and extend our support and heartfelt prayers to all those impacted,” CLIA spokesperson Anne Madison said in an emailed statement. “We join everyone in extending our thanks and appreciation to the first responders and emergency workers in Baltimore, the U.S. Coast Guard, and other professionals who are working with one goal in mind—to save lives. We are closely following this situation.”

Carnival’s website shows Carnival Pride and Carnival Legend also have sailings into or out of Baltimore set for April. 

Carnival Legend will temporarily move operations to Norfolk, Virginia.

The ship's current cruise, which left for a planned round-trip sailing from Baltimore on March 24, will end in Norfolk on Sunday. Passengers will then receive free bus rides to Baltimore. The vessel's next cruise will sail round-trip from Norfolk later that day.

“Our thoughts remain with the impacted families and first responders in Baltimore,” Carnival president Christine Duffy said in a statement. “We appreciate the pledge made by President Biden today to dedicate all available resources to reopen Baltimore Harbor to marine traffic as soon as possible. As those plans are finalized, we will update our future cruise guests on when we will return home to Baltimore, but in the meantime, we appreciate the quick response and support from officials in Norfolk.”

The cruise line has not yet shared plans for Carnival Pride. Carnival's parent company, Carnival Corp., said the temporary change in homeport is estimated to have an impact of up to $10 million on adjusted EBITDA and adjusted net income this year, according to a news release .

Royal Caribbean's Vision of the Seas, which left from Baltimore on March 23 , will return to Norfolk instead on April 4. "Our guests on board will be provided compensation and complimentary shuttle transportation as well as Wi-Fi and phone calls to adjust their travel arrangements," a spokesperson said in an email.

The ship's April 4 and 12 cruises will leave from Norfolk, too. "Our guests booked to sail with us will receive compensation due to the necessary adjustments made to their vacations," the spokesperson added. "After returning from the April 12 cruise, Vision will head to the Bahamas for its previously scheduled maintenance."

Was your cruise itinerary changed?: What to do next

American Cruise Lines has roundtrip sailings from Baltimore scheduled in May, according to its website.

“We will monitor the situation and make adjustments to future cruises if needed, but at the present time our schedules remain unaffected, and our thoughts remain with those affected by the immediate situation and rescue efforts underway,” an American Cruise Lines spokesperson told USA TODAY.

Norwegian Cruise Line doesn’t appear to have any Baltimore sailings until September on Norwegian Sky . The line will stay in contact with the port and share any changes with passengers and travel partners, according to a spokesperson.

"In the meantime, we wish the city of Baltimore strength during this very unfortunate event," they said in an email.

Alternate routes for the Baltimore bridge

Most drivers can take Interstate 95 (Fort McHenry Tunnel) or Interstate 895 (Baltimore Harbor Tunnel) to avoid the collapsed bridge. However Maryland Transportation Authority notes there are some exceptions .

Vehicles carrying hazardous materials, including more than 10 pounds of propane, are not allowed in the tunnels. Additionally, vehicles more than 13-feet and 6-inches high or 8-feet wide may not use the 1-895 Baltimore Harbor Tunnel. Vehicles more than 14-feet and 6-inches high or 11-feet wide may not use the I-95 Fort McHenry Tunnel. 

Those vehicles should use the western portion of I-695 instead.

Business | South Florida yacht brokers hit with lawsuits…

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Business | south florida yacht brokers hit with lawsuits that claim 10% commissions violate antitrust laws.

Two newly filed federal lawsuits claim that 10% sales commissions required by South Florida’s yacht broker industry are anticompetitive and violate antitrust laws.

The claims follow an October finding by a federal jury in Kansas City, Missouri, that the National Association of Realtors conspired with brokers to artificially inflate commissions paid to real estate brokers. The ruling, and a March 15 settlement by the Realtors, is expected to radically change how homes are sold in the United States.

Both lawsuits involving yacht brokers name as defendants the International Yacht Brokers Association, based in Fort Lauderdale, the Yacht Brokers Association of America, Boats Group LLC and YATCO LLC.

Also listed as defendants in both suits are a who’s who of South Florida-based yacht brokers, including Denison Yacht Sales, MarineMax Inc., Galati Yacht Sales Inc., Allied Marine Inc., Tournament Yacht Sales LLC and Northrop & Johnson Yacht Ships, among others.

Nearly all of the defendants are headquartered in South Florida.

The most recent suit, filed on March 22, proposes a class of plaintiffs that includes anyone who listed vessels on certain Multiple Listing Services using a listing agent or broker affiliated with one of the defendants and paid a buyer’s broker commission since March 22, 2020.

The lead plaintiff in the lawsuit is Kip Lamar Snell, identified as an Alabama resident. Snell entered into an agreement with Galati to sell a 41-foot Express Cruiser Sea Ray in July 2020 and ended up paying a $12,000 commission on the $120,000 sale price, the suit states. The lawsuit lists as defendants 15 brokers and six organizations that promote the yacht trade or operate Multiple Listing Services.

That lawsuit follows one filed on Feb. 29 that proposes a class of plaintiffs that includes anyone who paid a commission to a listing broker affiliated with the defendants since Feb. 19, 2020. It lists as defendants 11 brokers and five organizations that promote the yacht trade or operate Multiple Listing Services.

The lead plaintiff in that suit is Ya Mon Expeditions, a Wyoming company that paid a “substantial broker commission” when it sold a vessel in January 2023 while represented by Tournament Yacht Sales of Tequesta.

The most recent complaint accuses the trade associations of colluding with brokers to “enforce an anticompetitive restraint that requires (sellers of pre-owned yachts and boats) to pay a brokerage fee to the buyer’s broker and a total aggregate commission fee that is inflated as a condition for selling their yachts.”

The complaint states the typical commission is 10% and is shared between the seller’s broker and the buyer’s broker under terms spelled out in Central Listing Agreements provided by the brokers associations, including the International Yacht Brokers Association and the Yacht Brokers Association of America.

Only boat brokers are able to list boats and yachts on such Multiple Listing Services as YachtWorld.com, BoatTrader.com and Boats.com, and the Multiple Listing Services will not accept listings from owners who want to sell their vessels themselves, the lawsuit states.

Yacht owners are “severely disadvantaged” if they do not list their boats for sale on the listing services, while buyers suffer because their brokers are “financially incentivized” to show boats that will earn them standard “and inflated” commission rates of 4% to 5% through co-brokerage transactions, the complaint states.

None of the defendants contacted for this story responded to a request for comment, and no response has been filed yet in either case.

Robert Allen Jr., whose Miami-based law firm Robert Allen Law represents the International Yacht Brokers Association, did not respond to emails or return a phone call.

A woman who answered the phone at the International Yacht Brokers Association said, “We have no comment on that,” and hung up after a reporter asked for her name.

Of six brokers contacted for comment about the lawsuits, only Tournament Yacht Sales responded to emails. “No comment,” the company’s response stated.

Overall commissions have increased faster than the rate of inflation in recent years as the price of larger boats and yachts have increased, according to the lawsuit that lists Snell as lead plaintiff.

The result is that boat owners pay “hundreds of millions of dollars” in inflated commissions each year, the suit alleges.

Both lawsuits allege violations of the Sherman Antitrust Act that are upheld by “brokers who should be competing with one another but, instead, cooperate with each other to the detriment of pre-owned boat sellers.”

Some brokerages represent both buyers and sellers and retain the entire 10% commissions, the suits state.

The trade associations enforce rules requiring brokers to offer their boats through a listing service and to share commissions, the suits state, adding that they can impose significant penalties on members who do not comply with their rules.

Yacht purchasers are disadvantaged by the current system, the lawsuit alleges, because their agents would otherwise negotiate for their business by decreasing their commission rates.

But buyer brokers’ commissions have remained constant despite their diminishing role, the suits state. Many buyers today find boats they are interested in purchasing through online searches and enlist the services of a buyer’s broker only after identifying the yacht they want to buy, the suits claim.

The lawsuits seek an order declaring the commission structure to be illegal, a permanent injunction outlawing what they describe as anticompetitive conduct, plus damages and/or restitution, pre- and post-judgment interest, and attorneys’ fees.

Paul Geller, an attorney for one of two law firms representing the class that includes Snell, acknowledged “parallels between the allegations relating to commissions in the real estate and yacht markets.”

In the real estate matter, the National Association of Realtors on March 15 agreed to a $418 million proposed settlement that would free home sellers from paying commissions to brokers for both sellers and buyers.

After a jury ruled for the plaintiffs in the case against the National Association of Realtors in October, numerous lawsuits were filed across the country with similar allegations, including one in December against the Florida Association of Realtors and 16 brokerages.

“At bottom, the goals of (the suit against the yacht brokers) are similar: protecting consumers by challenging what we allege to be anti-competitive conduct,” Geller said by email. “We believe in the universal truth that consumers benefit by increased transparency and the competitive pricing that results from negotiated terms, including commissions.”

Geller is a partner at Robbins Geller Rudman & Dowd LLP, which specializes in securities litigation on behalf of investors. The firm has offices in 10 cities, including Boca Raton.

Ron Hurtibise covers business and consumer issues for the South Florida Sun Sentinel. He can be reached by phone at 954-356-4071, on Twitter @ronhurtibise or by email at [email protected].

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Danae by Rembrandt

#The Hermitage #Exhibitions #Attractions #Art

Danae (1636-1647) is a famous painting by Rembrandt and one of the most important exhibits from the Hermitage collection. It is based on the Greek myth of Danae, the mother of Perseus.

When the ruler of the ancient Greek city of Argos was told that he was destined to die by the hand of his grandson, he gave an order to imprison his own daughter, Danae, deep in the dungeon. But Zeus came to Danae in the form of a golden rain, and after that she gave birth to Perseus.

Rembrandt Harmenszoon van Rijn (1606-1669)

Rembrandt started painting Danae in 1636, 2 years after his marriage to Saskia van Uylenburgh. The artist truly loved his young wife and often portrayed her in his paintings. “Danae” was no exception. But for a long time a mystery remained: why was the similarity with Saskia not as obvious as in other paintings of the artist created in 1630s, and why did the painting style resemble creations of the later period of his artistic career?

“It turned out that the picture had been changed after the death of the artist’s wife in 1642, at a time when he had a relationship with Geert Dirks.”

Only in the middle of the XX century, with the help of X-ray, the answer was found. It turned out that the picture had been changed after the death of the artist’s wife in 1642, at a time when he had a relationship with Geert Dirks. Face features in the picture were repainted to combine faces of both artist’s beloved women.

One day the world almost lost this masterpiece. June 15, 1985 a man came to the Rembrandt Hall at the Hermitage and asked the museum workers, which paintings in the room were the most valuable. Then he approached Danae, pulled out a bottle and poured its contents directly into the center of the canvas. Painting immediately began to bubble and changed its color. Later investigation showed that the bottle contained sulfuric acid. The villain also took out a knife and cut the picture twice. The man was arrested and found insane.

Rembrandt Hall at the Hermitage

“danae” damaged by sulfuric acid.

The Hermitage immediately began restoration works. Half an hour after the incident the painting was washed with water to stop acid action and processed with special compound made of glue and honey to prevent layers from peeling. In three days a special committee was created to discuss the ways of forthcoming restoration of Danae. It took almost 12 years to completely restore the  painting. At present time the picture can once again be found in the Rembrandt Hall at the Hermatage main building and is protected by armored glass to prevent any acts of vandalism. So, if you are having a day at the Hermitage, make sure to visit the Rembrandt Hall and get acquainted with this truly incredible painting.  

Insiders still have no idea what's going to happen to Russian oligarchs' seized superyachts

• It's been two years since Russia invaded Ukraine, leading to sanctions against Russian oligarchs.
• Many of their superyachts were seized or frozen , leading industry insiders to question their fate.
• The yachts, some of which are worth hundreds of millions of dollars, remain in a state of limbo.

More than two years after Russia invaded Ukraine, the boating world still doesn't have many answers about what's going on with the very large, expensive elephants in the sea: oligarchs' superyachts .

The war prompted many governments to enact sanctions against Russia's richest , including seizing their superyachts worth hundreds of millions of dollars. But it's unclear whether they can be sold or who'd buy them, leaving ports peppered with massive boats stuck in a floating limbo.

"The Russian problem, it's becoming a bigger and bigger and bigger problem," one luxury yacht broker told Business Insider at the Palm Beach International Boat Show last week. Like many others, he requested not to be named, given the sensitive nature of the matter at hand and the generally discreet nature of the industry.

Russia has been a massive player in the massive boat market for a long time. In August 2021 — about six months before Russia's Ukraine invasion — Russians owned the second-largest share of yachts over 40 meters in length, according to a report from the industry publication SuperYacht Times.

They were responsible for 16% of new build superyacht purchases in the decade preceding the report and are known for splashing out on extravagant interiors and unique features. (One builder BI spoke to recalled a mandate from an oligarch for a large safe in the owner's cabin in which he could keep his rifles. The builder later learned he'd use them to skeet shoot on deck.)

But those sales have now screeched to a halt as oligarchs get hit by international sanctions. At least a dozen superyachts — worth well over $1 billion combined — have been affected.

And no one is quite sure what will happen to them.

Russia's sanctioned superyachts are hard to buy and sell

The first problem is that many of the yachts are "frozen" — not seized. That means that although the Russian owners can't operate or collect them, they don't technically belong to an overseas government, so they can't be sold without special permission.

Earlier this month, federal prosecutors petitioned a judge asking for consent to sell the Amadea, the 106-meter superyacht that has been docked in San Diego and costs the US as much as $922,000 a month to maintain.

"I've had some inquiries, but all you can tell them is we don't know the outcome yet" of the case, another superyacht broker told BI at the yacht show.

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And despite the broker's claim of interest in yachts like Amadea , most ultrarich — or at least their brokers — don't want to go near the vessels with a ten-foot pole, even if the government does get legal permission to sell them.

"How does it look if you bought a Russian boat?" Julia Simpson, a broker at Thompson of Monaco, said. "Even if it's completely legal and normal, there are too many things on the line," she said, like how the original owner got their money and whether that could make the new buyer look bad.

There are also possible legal implications, as it's hard for the government to prove who actually owns the yachts.

"Oligarchs typically structure their ownership of these high-value assets through a web of offshore shell companies and trusts that is designed to conceal the true owner," Joshua Naftalis, a former federal prosecutor who now works for Pallas Partners, told BI.

And if the government does assume ownership, it's highly dependent on court orders. For example, a Russian whose yacht had been seized by the French government regained access to his boat after winning a legal battle in 2022.

"It's a very difficult process to buy them," Ralph Dazert, the head of intelligence at SuperYacht Times, told BI. "There is a high risk of the former (Russian) owner suing you to get the boat back."

He pointed to the Alfa Nero, the 82-meter yacht that Eric Schmidt planned to purchase for $67 million last year in an auction put on by Antigua and Barbuda. He backed out after various parties tried to block the sale, likely deeming it not worth the legal headache.

"When the reason for sanctioning goes away, which it may do," the Russian owners will try to get their boats back , Simpson said. After all, "the government's not going to pay them."'

That said, if sanctions are dropped, the yachts will be worth much less than when they were seized, as a boat not in use deteriorates much faster than one sailing the seas.

"Those yachts need to be used to be kept in shape, kept in condition," the second broker said. "​​Just having them sit at the dock with a temporary crew on board is not good for the boats."

And the sanctioned Russians who have managed to maintain control of their superyachts won't have an easy time offloading them in the future.

Americans who try to do business with sanctioned oligarchs would have a number of hoops to jump through — like finding a bank to process the purchase, which would be next to impossible. If somehow they did and the government caught wind, they'd face hefty penalties and the transaction would be void.

So Russia's richest have found themselves "stuck" sailing in a select few countries that will let them, like the Maldives, Montenegro, and Dubai.

Watch: Video of Russian naval ship explosion shows a much-needed win for Ukraine

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