Boats which are given up, destroyed or have been caught because of various despicable activities by the owners are everyday sights. When a vessel meets with an accident, the insurance company would usually make the payments and then remain in limbo with a vessel which they never have any use for. And a damaged vessel is difficult to sell. Everyone would question the proposal of buying a damaged vessel.

You would normally find business enterprises engaged in catering and similar vocations, attend sales and sign up good deals for boats which have not undergone very serious and irreparable damages. They then recondition the boat, add some fresh paint and there you are, the boat is now saleable at a good price. Members of the public are also invited to buy at the salvage boat sales. You could save a few thousand dollars if you spend some time and money to do it up. Salvage boat sales are usually advertised via the media to inform the public. Be sure to research the models and vessels and have an idea of the values and types of repair that must be completed. This would open up avenues to not only restore your own vessels, but others too and keep a growing list of potential customers. These sales are excellent for people for whom cost is a deterrent factor, though they love the sea and pine for a boat. The selling price of these boats are far lower therefore making all refurbishing work affordable allowing one to restore the boat back to its original condition.

Yet another way to get a boat or a luxury yacht is to make a trip to salvage boat sales. Luxury boats are often captured for carrying out illicit activities. If you are the highest bidder at an auction where such boats are sold, you could be the next proud owner. Such boats would have cost a fortune for the first owner, but are eventually sold at a ridiculously low price, due to many reasons. It is a definite win-win situation and the boats are usually in a good state so that only minor repairs may be necessary.

One important aspect when buying a boat is to ensure that you are dealing with a reputable agent. Some fraudulent people may try to pass off a damaged boat by making it look like new with a new coat of paint, etc and then claim that the boat was used only for a short time. That's why many people prefer to search online auctions as a safer bet.