Hurricane Sandy cars up for auction in New York

New York City is auctioning off 535 vehicles abandoned after Hurricane Sandy. More than 100 of those vehicles were sold on Tuesday; the rest will be auctioned May 2 and May 7 at David Maltz & Co. in Central Islip, Long Island.

“We’ve sold one as low as $300 and we had one above $10,000,” auctioneer Richard Maltz told the NY Post. “Just because a vehicle is titled as flood-damaged doesn’t mean it’s inoperable.”

Picking up these cars is a gamble. These cars were towed, thus they have no keys. Also, because the cars are being sold as flood damaged, they can’t be registered for road use until undergoing an inspection by the DMV.

Some vehicles were submerged, making them expensive paperweights. But others only filled up partially, leaving the engine block and other parts untouched. Which ones buyers find will be up to them and their detective work.

Maltz told the Post that auction runs the gamut of vehicles from cheap compacts to high-end luxury vehicles.

Bidders need to bring 25 percent of the price in cash or check for a down payment.

According to the Post report, about 3,300 vehicles were dragged off the streets after the storm. They were stored for three months while insurance companies, lien holders and owners were notified. Records at the National Insurance Crime Bureau were also checked. All but 696 cars were claimed.

Since Maltz picked up the cars, 161 more owners have come forward. The city is paying Maltz for towing and storage fees, but they will recoup some of that by the sale.

Go to maltzauctions.com for more information or to contact the bidding house about the auction.

By Jake Lingeman