I'm always on the lookout both online and off for various bank repossessed boats at local and regional boat auction houses. I also write a lot on the subject describing a few of the overlooked virtues of buying at auction. Frequently I get the question regarding how the auction process works. More specifically how the bidding process works at a typical boat auction in the USA.
I'll be the first to admit that finding a decent boat up for auction isn't easy. But if it was then the payoff wouldn't be as good. Most boat buyers want a cheap boat but aren't willing or don't know how or where to look to find a steeply discounted boat. There are a lot of boat auction liquidators you can find via. Google but that's still far from the best way of finding a cheap boat. It takes a lot of time to regularly sift through local and regional auction houses via. Google or your favorite search engine.
How much can you save buying at auction? It really depends. If you bid and then win the first boat you see at auction you'll probably may only save 15% or less. However, if you view a hundred boats, check out 5, to bid on 2, and only win 1. Well, you probably earned yourself at least 50% equity. That's a great and smart way to buy a boat at auction.
There are auction sources you can find a boat that will match up exactly to the spec's you prefer because of the depth of their inventory. Sites like Ebay or National Liquidators have a lot of boats up for auction. But they also have a lot of eyes watching the bids. So it's hard to really find a great buy for obvious reasons.
I've found that most boat buyers considering buying at auction will look the high traffic, transparent sites like Ebay or Nat'l Liquidators and maybe a few other free boat auctions sites near the top of Google. Those boats get a lot of eyes and a lot of bids and typically sell for around market value. Ebay does offer a big selection of boats and pwc's however, many are being advertised by either unmotivated or unrealistic owners. And if they're not dealers then check what kind of seller they are. Ebay is a notorious online venue whereby boat sellers 'accidentally' forget to disclose a particular ongoing issue that would obviously devalue boats value.
I haven't had much luck with boat inventory at fee based Government auction sites. The truth is that the U.S. Marshall Service or Coast Guard is simply not confiscating and auctioning off 'thousands of seized boats' every other day. You may find a few damaged boats up for bid and some accessories but not much. You can view any Gov't asset for free at GovDeals by the way. If you're seriously looking for boat auctions I'd recommend Boat Auctions Direct.
I'll be the first to admit that finding a decent boat up for auction isn't easy. But if it was then the payoff wouldn't be as good. Most boat buyers want a cheap boat but aren't willing or don't know how or where to look to find a steeply discounted boat. There are a lot of boat auction liquidators you can find via. Google but that's still far from the best way of finding a cheap boat. It takes a lot of time to regularly sift through local and regional auction houses via. Google or your favorite search engine.
How much can you save buying at auction? It really depends. If you bid and then win the first boat you see at auction you'll probably may only save 15% or less. However, if you view a hundred boats, check out 5, to bid on 2, and only win 1. Well, you probably earned yourself at least 50% equity. That's a great and smart way to buy a boat at auction.
There are auction sources you can find a boat that will match up exactly to the spec's you prefer because of the depth of their inventory. Sites like Ebay or National Liquidators have a lot of boats up for auction. But they also have a lot of eyes watching the bids. So it's hard to really find a great buy for obvious reasons.
I've found that most boat buyers considering buying at auction will look the high traffic, transparent sites like Ebay or Nat'l Liquidators and maybe a few other free boat auctions sites near the top of Google. Those boats get a lot of eyes and a lot of bids and typically sell for around market value. Ebay does offer a big selection of boats and pwc's however, many are being advertised by either unmotivated or unrealistic owners. And if they're not dealers then check what kind of seller they are. Ebay is a notorious online venue whereby boat sellers 'accidentally' forget to disclose a particular ongoing issue that would obviously devalue boats value.
I haven't had much luck with boat inventory at fee based Government auction sites. The truth is that the U.S. Marshall Service or Coast Guard is simply not confiscating and auctioning off 'thousands of seized boats' every other day. You may find a few damaged boats up for bid and some accessories but not much. You can view any Gov't asset for free at GovDeals by the way. If you're seriously looking for boat auctions I'd recommend Boat Auctions Direct.
About the Author:
Quickly find boat auctions and discover how to inexpensively and easily find repo boats for auction at a boat liquidation house near you. Purchase any boat direct at auction and save. Arthur has been a boat enthusiast for over 8 years and co-edits for http://www.boatauctionsinfo.com and enjoys finding the best auction sites for bank repo boats in central Florida.
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