Section 149

A receiver may at any time sell any wreck in his custody, if in his opinion -

it is under the value of $1,000;

it is so much damaged or of so perishable a nature that it cannot with advantage be kept; or

it is not sufficient value to pay for warehous-Ing.

The proceeds of the sale shall, after defraying the expenses thereof, be held by the receiver for the same pur-poses and subject to the same claims, rights and liabilities as if the wreck had remained unsold.