Flood-wrecked Mackay cars net $6 million
More than 1000 cars rated total insured losses from the Mackay floods have gone under the hammer at auction, returning $6 million.
David Grey, director of salvage at car auctioneer ManheimFowles, says the company handled about 75% of cars passed on from insurers in the Mackay region following the February floods.
It has now relocated 1500 flood-damaged vehicles to Brisbane.
New cars proved a big drawcard at the first auction. Their condition varied, but all the cars must be placed on the written-off vehicle register for the benefit of future buyers.
Cars rated a total loss by insurers are categorised as either statutory or repairable write-offs. Severely damaged cars are classed as statutory write-offs and cannot be repaired. When a car has roadworthy potential but the insurer considers it uneconomical to repair, it becomes a repairable write-off.
David Grey, director of salvage at car auctioneer ManheimFowles, says the company handled about 75% of cars passed on from insurers in the Mackay region following the February floods.
It has now relocated 1500 flood-damaged vehicles to Brisbane.
New cars proved a big drawcard at the first auction. Their condition varied, but all the cars must be placed on the written-off vehicle register for the benefit of future buyers.
Cars rated a total loss by insurers are categorised as either statutory or repairable write-offs. Severely damaged cars are classed as statutory write-offs and cannot be repaired. When a car has roadworthy potential but the insurer considers it uneconomical to repair, it becomes a repairable write-off.