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Editor: Rod Sullivan
Profession: Maritime Attorney

Category: Boating Accidents

Will Smith and Martin Lawrence shot up the Miami skyline during the filming of Bad Boys II. One of the unintended casualties was an antique wooden boat chartered by the production company to appear as part of the backdrop for some of the maritime scenes. While making the movie the antique wooden boat sprung a plank and sank.

The production company had insured the boat. What the owner didn't find out until it sunk was that nobody loved his boat as much as he did--it had little market value even before the loss. In fact, to most buyers the old wooden boat was a liability.

Old boats often appear to buyers to have residual value which can be restored through careful work and refinishing. In reality, boats deteriorate with time and no matter how much sweat and work is put into them, it often wont be reflected in the boat's value.