Who is AMS?

Associate Marine Specialists, LLC is a maritime casualty service company.  AMS works with Insurance Companies, Marine Lenders and Maritime Attorneys in the remarketing of marine casualty assets. AMS specializes in all types of maritime claims from equipment to pleasure vessels to commercial equipment and cargo.

How do I buy salvage for sale/auction?

AMS offers salvage for sale through a website auction bid process.  AMS sells to everyone. Those interested in bidding should print out a bid sheet.  Fill it out legibly and completely along with your signature and fax to AMS.  The fax number is located on the bid sheet. AMS always posts a minimum bid amount on the various vessels.  The auction starts when the minimum bid amount is met and when there are two or more bidders involved in the bidding process for that vessel.  Money is not collected until "High Bidder" wins the bid. 

How do I know if I win the bid?

Once your bid has been received by fax to AMS at 714 964-9432 the bid sheet is then dated and time stamped. AMS will place your bid in the order of receipt with all other bidders. You're now in the bidding process.
Bidding dates for the salvage are individually posted on each web site page for that salvage which is up for bid. All items up for bid run 21 days (if not on hold) and are posted as to the start and closing dates for bidding. All closing dates will be on the closest Saturday to the 21st day time frame. Closing is 12:00 P.M. midnight (Pacific Coast Time Zone).
AMS reviews all bids that following Monday morning and looks for the high bidder which has met the minimum bid amount. That bidder is called and notified that they are the high bidder. At that time AMS will then contact all of the remaining bidders below the high bidder and who faxed in a bid before the closing date and give them the opportunity to re-bid the salvage. The bidding process will conclude when there is one remaining high bidder left. The high bidder is the winner and the auction is closed, final sale of the salvage goes to that person.
 

Terms and Conditions:

"High Bidder" (Buyer) must pay for the vessel within 3 days of the auction date. Payment can be made by: Company check, bank cashiers check or wire transfer.

• Paying by check either company or bank check the vessel cannot be picked up until the buyer’s check has cleared AMS’ bank (approximate 5 days).

• Paying by bank wire transfer an additional $25 for bank processing applies.

The vessel must be picked up within 10 days from the High Bidder’s auction date, otherwise storage fees will be incurred.
 

Please note: AMS does NOT COLLECT SALES TAX in any state. All taxes and registration fees are to be paid by "High Bidder" (buyer). AMS issues a bill of sale, and all documents to register the salvage in the bidder’s name. An "AS IS, WHERE IS" form must be signed acknowledging that you were informed that this is an insurance liquidation casualty sale and the salvage comes to you without warranty of any kind and that you are well aware of this fact.
Should "High Bidder" (Buyer) not follow through with their obligation for whatever reason, the salvage will go back up for auction and all bidders will be notified of the auction reopening. High Bidder forfeits their 5% deposit should it be on a vessel that requires a 5% deposit.
The auction would re-start again the following week and run for additional 21 days. All bidders for that salvage will be re-called to inform them of the salvage's status, so if they want to re-bid again they will have the opportunity to do so. At that time a second bid sheet must be filled out and re-faxed again showing that date and time. AMS reserves the right of refusal on any auction sale on any and all of our items posted for auction on www.amssale.com.

Can I see the vessel before I place a bid?

AMS asks that you first place a bid.  Because we ask for no upfront money, please show your true interest and intent by placing your good faith bid.  Also, please note we are not a retail operation.  We allow you to view the vessel and bring anyone along that you want to inspect the vessel. We do not attempt to start the motor(s) until "High Bidder" wins. Please keep in mind AMS does not take the boat to various locations to have the vessel checked out by one of the "bidders specialists", bring them with you.  Take your time viewing.  AMS divulges everything we know about the vessel.  We do not hold any information from you.  Remember most of these vessels are coming from an insurance casualty claim.  The price reflects this.  This type of salvage may not be for everyone.  If you are looking for a turnkey vessel, then this is not your type of purchase.  These vessels are sold "AS IS, WHERE IS with NO WARRANTIES IMPLIED OR EXPRESSED!

Do I get a clear title on the vessel?

AMS does the necessary work to assure you get a clear and free title for the salvage. Unlike the DMV laws on vehicles, watercraft titling is different. Each state varies and most of the states we work with do not have "Salvage Titles" on watercraft.  AMS will forward all documents and title paperwork at the time of the closing of the sale once funds have cleared the bank.  There are those occasions when this time period could be between 6 to 8 weeks.  Unforeseen delays due to issues with banks time frames, insured's time frame, the USPS, all can play a part in the delay process. AMS requires that you have the title transferred to your name within 10 days after receiving the title(s).

Are there any fee's I have to pay?

AMS charges a  $245.⁰⁰ dollar administrative fee, which is added to the buyer's final closing statement. This fee is for handling the paper work in securing that all necessary documents and title are correct and that there no outstanding liens or encumbrances on the vessel or item. This is not a DMV registration fee. It is the fee in which AMS charges to verify that the vessel being sold is clear and that the bidder (buyer) will receive a clear title or documents to the vessel or item purchased. AMS charges a fee if the buyer wants AMS to handle the titling or documentation paperwork with the DMV for the purpose of transferring the title for the buyer. Pricing varies from state to state. AMS will occasionally have a buyer's premium on some salvage. That premium is no more than 6% percent of the final purchase price of the salvage and is added to the closing costs of the salvage. If there is a buyer's premium on the salvage, it will be indicated on the salvage web page posted on web site. There are NO other fees or charges to the buyer when bidding on an item from AMS.  

What does required deposit mean?

Some vessels now will require a deposit when placing a bid on those particular vessels. In vessel details it will show 5% DEPOSIT REQUIRED with a dollar amount next to it.
A person that wants to place a bid on a vessel that shows the deposit bid required verbiage must pay a required 5% deposit to AMS either by bank wire transfer or cashier’s check before their bid for that vessel will be accepted. The bid must be submitted to AMS before the closing bid date on said vessel.
All bidders’ deposits will be held by AMS in trust and returned to those bidders that did not win the web auction sale for said vessel within one week of the auction sale.
Winning bidder’s deposit will be applied to their balance owed for the vessel purchased. Winning bidder will be required to send balance of winning bid payment to AMS within 4 days of the web auction sale date. Deposit is forfeited when winning bidder does not comply with terms and condition set forth by AMS conditions of sale.