Buyers Beware

[Micdalen]

Just a heads up to those here that are looking to buy bikes, and parts over the next several months. A claims adjuster that works locally for State Farm, informed me that bikes, and cars from the New Orleans disaster are gonna start being scheduled for salvage auctions within the next 14 days. He also stated that the other insurance companies are already preparing to start releasing some of thiers also. So if you see a good deal on a bike that sounds too good to be true, better check it's history real close.

As with all water salvage vehicles, they can tend to be an easy clean up. If not submerged for months, drain the engines, change the fluids, new battery, and fire them up after everything dries out. It is 5-6 months down the road that problems start to show up. The corrosion starts to form in terminals and electrical components then it is the end of the car or bike, and the start of the unfillable hole.

I relay this info, cause I see alot of members on the board expressing desires for newer or faster bikes, and would hate to see them start a never ending project of repairs.

Soon as Jimmie gives me exact details on auction dates, will post so this information can move about the web

[JJ0712]

thanks for the heads up good info.

[WildKat]

Yeah I was wondering if something like this would start to come about as the area starts to recover from the disaster.

They may be some good parts bikes to check out for those looking to increase their inventory.. especially plastics and other cosmetic items, maybe not so much the mechanical and electrical of course.

[woobie]

I knew all about the cars about to flood the market, but I completely forgot about people trying to sell bikes from the flooded area.

Thanks for the reminder.

[The CyberPoet]

Great heads up. I've already started to see some hitting the market (I'm guessing non-insured ones). As always, if buying used, enlist your local police to get as much of a vehicle history as feasible -- and check for location of registration

Remember, not only New Orleans will have such vehicles -- they'll be coming out of much of the Texan coastlines, Mississippi coastal deltas, etc.

Cheers
=-= The CyberPoet

[Micdalen]

Another little note as I get info. Most of the auctions items will probably be coming out of Florida, Georgia, and Mid west auctions. The main reason behind this is to distance them from the damage areas. Some companies will ship them to the west coast, or up north. A major clearing house for salvage bikes from State Farm is several auctions in Atlanta, and the big one in Detroit. There is discussion of using giving exclusive salvage rights to certain companies, and selling major lots to them. I know some of them are ebay sellers, if he gets a firm on this will post the sellers id's for members to have that info on hand.

[md86]

But if the engines are still solid , and you know the electrical stuff COULD have issues , it sounds like it'd still be worth dealing with , if in fact you DID get a good deal . : Anyone ?

[The CyberPoet]

But if the engines are still solid , and you know the electrical stuff COULD have issues , it sounds like it'd still be worth dealing with , if in fact you DID get a good deal . : Anyone ?

You'd have to get an exceptionally good deal, or take several of the same type. Figure if an '03 Kat 750 is worth $4k effectively in mint shape, then a flooded one without major body/frame damages should be worth between $900 and $1500 (the difference being the cost of tear down, cleaning, wiring harness, parts, etc). The number of items that would have to be disassembled and cleaned or replaced is almost beyond imagining, and includes everything from the seat foam (oh, that rotting smell!) to every switch (including safety switches), every bulb socket, probably the instrument panel, etc., etc.

Cheers,
=-= The CyberPoet

[md86]

Well , how much would the engine anf frame by themselves be worth ? Then the OTHER parts that a little water won't kill ? See , I STILL think it wouldn't be a terrible way to get some parts . And I'm not convinced otherwise just yet ....

[harrye]

I thought I heard where the insurance companies are also hurt if flood damaged cars are put back on the road. An unreliable car is likely to need more road service (tow trucks), and the insurance company might cover this cost in its policy with the unsuspecting car owner. A broken down car left on the highway is more likely to be vandalized, stripped, or hit by another vehicle.

So its in the insurance companies interest to make sure that cars sold as salvage vehicles do not end up costing them more money in their second lives.

[JJ0712]

yea i could see MD's point maybe getting some fairings really cheap, exhaust, some engine parts. This could go both ways of being a + and - just depends on what you are looking for.

[Seabeefester]

Remember Buyer Beware. It can go both ways. It can be a good deal, you just wont know what you have until a few months go by. Then it could be the black hole....

[The CyberPoet]

I thought I heard where the insurance companies are also hurt if flood damaged cars are put back on the road...

That's a very good point, harrye! I know in Florida, if an insurance company pays out a motorcycle as being "totalled" by any reason and they acquire the motorcycle at the end of the transaction (i.e. - it's not bought back by the original owner as part of the settlement), the bike gets retitled as a "Salvage Title - Unrebuildable" (if sold whole) or "Certificate of Destruction" (if parted out). You can find all the different title types for various states here:

http://www.4mag.com/cgi-bin/help/helpfaq.dtw/titles

Cheers,
=-= The CyberPoet

[Micdalen]

I currently have two mustangs that are salvage titled. Although insured, the insurance company lets me know up front with a rider that I will never get what full book value is for them in the event I wreck them and it is my fault. I carry an extra rider to get a greater value in the event I wreck the convertible, but still would loose alot on it in the long run.

Have never insured a salvage title bike, but would be interesting how they handle it.

If these bikes and vehicles are rebuilt right, will never see a problem, but I know quite a few people that rebuild salvage vehicles, some do it right others take shortcuts and don't care. Just make a quick buck and pass it along. These are the ones that will make it difficult for everyone.

I wouldn't personally mind latching onto a flood salvage busa, could but new electrics and misc that needed replaced for a fraction of the cost of a new one. So who knows?