Yes. Please elaborate. I started reading this post today and it's like my recording of the football game ended with 30 seconds left in overtime! How did the fuel tank saga end? What was the final straw for you? Thanks. Hope this doesn't bring back bad memories.
LOL Mac2! Here goes.
In our previous episode… Full Moon was brought cautiously across the East Bay from Alameda to Sausalito where she was hauled and determined to need a stuffing box/shaft seal replacement. All in all, replacement cost was upwards of $10k; but a small price to pay to avoid an environmental hazard sinking into the San Francisco Bay. This was just before Christmas 2021.
The guy that was going to offload the fuel from our leaky tank turned out to be a flake. He never told us he’d actually been on board, but we found his hand-written business card literally inside the engine compartment some time later!
Life then got even crazier with few visits to California and; therefore, the boat, but thankfully there was no progression of fuel leakage. She was, of course, still being externally maintained and always kept an eye on by our marina neighbors. It wasn’t until mid-2023 we were able to get back to addressing the “problem”.
It was then I reached out to a number of organizations regarding donation. The local maritime college foundation couldn’t/wouldn’t take on the fuel tank problem. We were able to get some traction with another organization, but with their offices in Florida and San Diego CA, we never got them on board.
For those not familiar with the donation process, there are two avenues for gaining a tax advantage. Donate (to an IRS credentialed) organization and claim the actual cash value they were able to sell (or auction) the vessel for or, to one with a longer term strategy. These organizations take the vehicle/vessel in and put it to some type of use for at least three years. Legitimate uses vary during this time (see IRS code for specifics) but with these organizations you get the proper paperwork for IRS submission up front. The tax credit value in this case is based on a formal vessel appraisal, paid for by (us) the owner, prior to the donation. Regardless of the three-year holding period, the tax submission can be made in the same tax year as the donation.
So… This Spring I reached out to another brokerage firm (I’d already talked with a few) regarding sale and instead was pointed to the right guy in the right place at what turned out to be the right time. He’s essentially a boat broker who interfaces with the Scouts and handles all the paperwork for a proper donation. Not his first rodeo. (Proof will be in this year’s tax submission I suppose, but I’ve read the code and feel confident this is the real deal.) How exactly they’ll use Full Moon in the coming years, I can’t say, but as someone posted above, I’m sure she’s in good hands.
I will add that the formal appraisal we had done was worth every dime. Everyone (mostly) likes to bad-mouth inspectors and appraisers, but we found a gem! Having formally been an inspector of large commercial vessels for the Coast Guard, along with other impressive experience, he literally inspected every inch of Full Moon… emptied every cabinet to get to backplates and viewing ports; even lifted our mattress off the bed to inspect the hull access beneath. All flaws (including fuel tank and generator issues) were well documented in his report. And I’m happy to say that the resulting appraisal value is fully in keeping with the much regarded Ocean Alexander reputation.
And just as this was all wrapping up… we came across Secret Beach and are in love all over again. So that’s our story! Happy boating to all.
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