I have often wondered what happens to old yachts once nobody wants them any longer? When sombody can't sell an old yacht or even give it away for nothing where do they end up?

If it was an old car it would go to the wreckers squashed and sold as scrap metal. Is there such a things as a yacht wreckers? If it's an old timber yacht there might be something of value in the timber itself to make somebody break it up to salvage the wood. But what about old fiberglass hulls once anything of any value has been removed?