Conference unifix::sailing

549.0. "Chance of a lifetime deal....." by MURPHY::SAFDIE () Thu May 07 1987 17:51

		Do I hear $50.00??
    
    
    
        
    
Thu  7-MAY-1987 04:07                          Yacht Auction

enrX 7-MAY-8704

   Yacht Abandoned In Quincy Harbor To Be Auctioned
   DEDHAM, Mass (AP) - A 51-foot ketch found abandoned in Quincy
waters nearly four years ago with $9 million worth of marijuana
aboard will be sold to the highest bidder at a Saturday auction.
   Profits from the sale will be used to finance drug
investigations, the Norfolk County district attorney's office said.
   ``The Snow White'' was found floating in the Town River in
Quincy on Aug. 5, 1983.
   In January 1986, a Superior Court judge ordered the forfeiture
of the boat. Since the order, the yacht has remained in the legal
custody of the district attorney's office.
   Saturday's auction is open to the public and will be held at 11
a.m. at Hewitts Cove Marina off Route 3A in Hingham.
   A spokesman for the district attorney's office said the yacht,
which sleeps 10, has two staterooms, two bathrooms and a kitchen.
In 1983, it was appraised for $100,000. Prospective bidders must
have $10,000 in cash or a certified check for that amount when they
arrive at the auction.
Associated Press Thu  7-MAY-1987 04:07                          Yacht Auction

enrX 7-MAY-8704

   Yacht Abandoned In Quincy Harbor To Be Auctioned
   DEDHAM, Mass (AP) - A 51-foot ketch found abandoned in Quincy
waters nearly four years ago with $9 million worth of marijuana
aboard will be sold to the highest bidder at a Saturday auction.
   Profits from the sale will be used to finance drug
investigations, the Norfolk County district attorney's office said.
   ``The Snow White'' was found floating in the Town River in
Quincy on Aug. 5, 1983.
   In January 1986, a Superior Court judge ordered the forfeiture
of the boat. Since the order, the yacht has remained in the legal
custody of the district attorney's office.
   Saturday's auction is open to the public and will be held at 11
a.m. at Hewitts Cove Marina off Route 3A in Hingham.
   A spokesman for the district attorney's office said the yacht,
which sleeps 10, has two staterooms, two bathrooms and a kitchen.
In 1983, it was appraised for $100,000. Prospective bidders must
have $10,000 in cash or a certified check for that amount when they
arrive at the auction.
    

	Does the $9M worth of marijuana come with the boat?
	
	
	

    What are the terms for JUST the marijuana?
    

    I have seen the boat and except for some minor damage above the
    water line it is excellent shape outside.  We were not allowed to
    board the boat, but if it is consistant with what the smugglers
    have done with other marijuana boats, the interior is totally stripped.
    Also, the Coast Guard has a reputation of practically destoying
    a boat when they do a search.  They poke every possible place that
    drugs could be hidden (this includes the core on some fiberglass
    hulls).  I'm not sure the effort to rebuild would be worth it no
    matter how cheap the price is.
    
    

    I was at Hewitts Cove Saturday. The boat sold for $79,000, and (as
    John said) the estimate to repair her to a usable condition was
    about $40,000 more after that.
    
    Rick
    

    RE .2
    
    About 5 to 10 years.............But you should be eligible for parole
    after about 18 months!!!! :^)