Schwendy said:
What happens to the boats that are "totaled" by the insurance adjusters? Could an 800k boat be sold for 10k to someone that wants a project? If they are scrapped, surely there is no where in the islands to dump them. I would imagine they will be stripped of any good parts. Bet there will be some major trash fires burning for a while, anything burnable.
Even in a US mainland storm the stripping starts within hours. There is already public looting on Tortola.
The insurance companies will usually take the title in a total. Then hand the hull over to liquidator or salvor/scrap entity to escape the liability.
Many of those boats will end up in a hopper barge loaded with crane and dumped at sea when they think no one is looking.
http://www.yachtauctions.com/inventory/
