View Single Post
Old 09-28-2019, 05:20 PM   #4
Ski in NC
Ski in NC's Avatar
City: Wilmington, NC
Country: USA
Vessel Name: Louisa
Vessel Model: Custom Built 38
Join Date: Jan 2014
Posts: 5,356
I lived right next door to a boatyard in NC (Carolina Yacht Yard). It had been in business for about 40-50 years under two owners. I worked as an independent subcontractor taking care of generator and engine rebuilds. I would diagnose, their guys would pull the machine out, I'd take it to my shop and do my thing, they would install it. Towards the end, the owners were getting into their sixties, getting tired and developers were drooling over the land. I guess they got an offer that set them for life and that was that. Hard to turn down that kind of money. Now my neighbors are three McMansions.

Land under the yard is almost always worth more than the yard can justify. Does not explain an auction though.. Maybe the land already sold and the auction is just for the equipment.
Ski in NC is offline   Reply With Quote