purchasing a wreck

[DecoWarrior]

hi apologies if this is the wrong section, has any one experience of buying a wreck, how long did the process take and if you dont mind me asking what the the cost and were there any legal fees involved??

[Gordon Mackie]

My club bought a wreck years ago..from memory it was a token amount £50 or £100 and it was a simple process...let me dig about a bit. I am sure it was just a matter of checking with receiver of wreck and filling out a form and writing a cheque

[warmwaterdiver]

any old wreck or a specific one?

if its a specific one, I would assume you'll need to buy it (if available) from the current owner/s, who may or may not wish to sell

[ratcliffe]

A PM to Angelseydiver or Yellowbuttybox might help with some information, I believe they own a couple.

[principia]

Why buy one? just steal it a little bit at a time and hide it in your garage

J.

[DecoWarrior]

well obviously i have something in mind.....well actually a few things in mind i have found some info that could prove to be of interest in the next few years and well i would like to try and get in early but thats all i am prepared to say for now, maybe privatley but certainly not in an open forum

but i was just wondering how easy the process was as a whole, or it was a long drawn out process involving solicitors,

if you could ping me any info you have about the process that would be great

i may already have a few bits and bobs

i should also add that i know that there is no trace of an owner...

[warmwaterdiver]

the last time I asked when I was thinking of the same, this is the answer I got

Originally Posted by Okeanos

From what I know, you contact Lloyds of London, tell them the wreck you wish to buy and they'll charge you an admin fee normally about £100 or so. Once you own it you are liable for it, if it starts polluting the surrounding area you're liable. That's why insurance companies are only too pleased to sell them off. Also, if it becomes deemed dangerous to shipping you will have to fork out to clear it!

[DecoWarrior]

well cheers for that, i can live with that, i will look into it......

i arent too fussed about the liability side of things its been there a long time and hasnt caused any problems yet!

any idea of which deparment in lloyds specifically deals with this a contact number or email

regards

kie

[Okeanos]

I do have the number at home somewhere, whether it's just a general number or a specific department I couldn't tell you. If you ring the ROW (she's very helpful) she has the number and will more than likely pass it on

Lloyds Of London may not be the owner, it does depend on the wreck, they don't insure everything. A lot have already been bought by unscupulous people who say everything they have recovered has been from their own wreck. You do have to report items lifted from your own wreck as well, but be nice, tell the ROW it is your wreck.

[DecoWarrior]

hi yes i do have a couple of things but it is all legit, i know preeviously that they couldnt trace an owner i managed to get intouch with the relevant people fingers crossed now, just see what happens, it could be interesting