Cooper Capital Specialty Salvage, LLC hosts massive online ...

FOR IMMEDIATE RELEASE January 15, 2013 CONTACT: Ron Milardo, (860) 395-4745 ext. 201

Cooper Capital Specialty Salvage, LLC hosts massive online auction of stormdamaged boats

Cooper Capital Specialty Salvage (CCSS, LLC), the first non-auto pool marketplace for specialty salvage assets nationwide, expects to list several hundred storm Sandy-damaged boats for auction on its website, , which is updated daily.

"We have boats ranging in size from 10 to 70 feet, but the vast majority is in the 20- to 40-foot range," says Ronald Milardo, founder and owner of CCSS, LLC founded in 1996. Listed boats come from locations stretching from eastern Long Island to southern New Jersey. The continually changing inventory of boats, mostly powerboats, are all declared "constructive total losses" by their various insurance companies, which have assumed ownership of the vessels. Cooper Capital works with most recreational marine insurers and the recreational marine market encompasses 90% of CCSS' business. The company has also auctioned off vessels damaged by Hurricane Katrina and the 2004 and 2005 hurricanes that struck Florida.

Hurricane Sandy made landfall near Atlantic City, N.J., on Oct. 29, packing hurricaneforce winds in a rising tide that created an unprecedented storm surge. BoatUS, a national recreational boating association and a major recreational marine insurer, estimates 65,000 boats were damaged by Sandy in New Jersey, New York, Connecticut, and areas along the Atlantic Seaboard and Great Lakes region. Milardo thinks as many as 13,000 damaged vessels will be declared total losses by insurers. As of early January 2013, CCSS had posted more than 200 vessels for auction on its website, with additions posted daily as insurers work through their backlog of case inventory. A listing typically lasts online 10 to 21 days before selling, according to Milardo. As the 2013 northeast boating season approaches, Milardo expects an uptick in constructive total loss write-offs as private boat owners realize their vessels cannot or will not be repaired in time for them to enjoy another summer on the water. One distinguishing difference between the vessel damage claims CCSS is handling postSandy and those of the earlier southern storms is that the majority of damaged northeast boats were removed from the water for the off-season. "A lot of them had been hauled out, with their drain plugs removed for winter," Milardo says. "So in the storm surge, they were lifted off their cradles and literally sunk on land." Visit to search the current inventory. A minimum starting bid is provided on most auction assets. Buyers are advised that they are solely responsible for any inspection of a vessel.

About Cooper Capital Specialty Salvage, LLC Founded in 1994 in Old Saybrook, Conn., Cooper Capital Specialty Salvage, LLC (CCSS, LLC) created the first non-auto pool marketplace for specialty salvage assets nationwide. CCSS, LLC's salvage management program provides the insurance industry with another forum for buyers and sellers to find specialty assets without visiting the various auto pools. CCSS specialize in the management of assets that have unique characteristics, whether afloat or on land, including boats, motorhomes, construction equipment, heavy duty trucks, etc. CCSS, LLC staff coordinates the salvage operation and prepares the asset for the marketplace, where the buyers and sellers enjoy a fair and open arena. CCSS has no boundaries and has successfully managed unique salvage assignments worldwide.

Ron Milardo, member Cooper Capital Specialty Salvage, LLC Mailing Address: Post Office Box 349 Overnight Address: 123 Elm Street, Suite 700 Old Saybrook, CT 06475 Phone: 860-395-4745 x201 Facsimile: 860-395-4746 Email: rmilardo@ Web:

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