Tuesday, March 23, 2010

The Luxury Repo Man


If the wealthy get over-extended, then there are firms such as the International Recovery Group which will repossess jets, yachts, helicopters, boats, racehorses, planes, and recreational vehicles. The repo men for the rich and famous are doing a booming business these days.

4 comments:

aman said...

http://www.carauctionstoplists.com/repo-boats/


repo boatsThere are differences between

government-run auctions; police impound auction and

a repo boat auction. In other manner the auctions

which are held by the government, use the boats

which are received by them from the agencies like

IRS, DEA, the FBI, and Homeland Security etc

car auctions said...

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Mark Brown said...

True enough, repossessing luxury vessels like yachts is quite common today. They place the boat on auction and sell it to the highest bidder. The successful bidder then brings home the boat. If it was a foreign acquisition, the bidder contacts a good yacht transporter who can bring it to his home location.

Interesting piece of information. Thanks!

Jan Cardinal said...

This is not going to change anytime soon either.

The impacts of our most recent recession run deep and the ripple effect will continue to hit the financial beaches for years to come.

There are many over extended toy owners out there that will be losing their toys in the near future and this will provide tremendous opportunity for value for those with money in a market where there is still lots of resale supply