Image by JimNtexas via FlickrAlthough other types of auctions have gained public attention and attendance, boat auctions have surprisingly gone unnoticed. Many auction attendees will quietly walk away with bargains leaving others in the dark. Boats aren't always easy to find at auctions as they tend to be scattered. But boats and even marine equipment will pop up for sale at these auctions and the potential for saving can be substantial. These sales are typically organized boat liquidation houses or by private auction houses. Boat auction houses will work with many lenders to re-market their repo boats.
Vessels that may be salvaged are quiet frequently seen at auctions and bankruptcy sales and may be of interest to the person capable of repairing their own boat. Some salvaged vessels can be in almost perfect condition while others may need a lot more work. Boat lovers who are seeking parts for antique vessels that may be hard to locate, may find that these sales offer that hard to find boat or parts for it.
For the new bidder at auctions there are a few guidelines that can help make a boat sale a pleasurable and possibly a very profitable experience. Knowing who has sponsored the sale and the history of the vessel can help match the buyer with the vessel for sale. An individual who hopes to buy a yacht or speed boat at a discount may be looking for a specific type of vessel. The same guidelines can help the buyer looking for antique boat parts or the individual who wants a part time fix it up project.
Every type of sale and the sponsoring agency has a different set of rules and requirements for bidders as well as those who are putting boats up for sale. Online auctions usually require registering with a site in order to place bids. Government sales may require the purchaser to be present at the sale. Boats that have been repossessed by financial institutions may also find their way into an auction.
Any vessel for sale should have a professional appraisal. Some sales will routinely offer an appraisal and this can be convenient for those who are shopping for a craft that might need some repairs. It is also possible to have an independent appraisal arranged, this can be a great idea for a craft that is being sold without a warranty as to its condition.
Anytime a boat, pwc or piece of equipment goes up for auction it also needs to be accompanied by documentation verifying ownership of the vessel. Specifically the title doc's. The condition of any craft up for sale can vary extremely so it is wisest to research the vessel before bidding. It may take some time to find the perfect boat but is usually worth the time invested.
The golden rule for any bidder is generally to know what the vessel is worth, to know what their budget can tolerate and to stick by those. Professional appraisals as well as a complete history of the vessel are only one part of the research but an important one. Not everyone can afford the time to attend an auction in person but most sales make arrangements for bidding online or by mail.
The excitement of an auction can cause new bidders to overbid and spend more than they can afford. This type of sale is fun and features a certain amount of competition in the bidding process. Boat auctions can be very enjoyable and cost effective if the bidder is wise.
Vessels that may be salvaged are quiet frequently seen at auctions and bankruptcy sales and may be of interest to the person capable of repairing their own boat. Some salvaged vessels can be in almost perfect condition while others may need a lot more work. Boat lovers who are seeking parts for antique vessels that may be hard to locate, may find that these sales offer that hard to find boat or parts for it.
For the new bidder at auctions there are a few guidelines that can help make a boat sale a pleasurable and possibly a very profitable experience. Knowing who has sponsored the sale and the history of the vessel can help match the buyer with the vessel for sale. An individual who hopes to buy a yacht or speed boat at a discount may be looking for a specific type of vessel. The same guidelines can help the buyer looking for antique boat parts or the individual who wants a part time fix it up project.
Every type of sale and the sponsoring agency has a different set of rules and requirements for bidders as well as those who are putting boats up for sale. Online auctions usually require registering with a site in order to place bids. Government sales may require the purchaser to be present at the sale. Boats that have been repossessed by financial institutions may also find their way into an auction.
Any vessel for sale should have a professional appraisal. Some sales will routinely offer an appraisal and this can be convenient for those who are shopping for a craft that might need some repairs. It is also possible to have an independent appraisal arranged, this can be a great idea for a craft that is being sold without a warranty as to its condition.
Anytime a boat, pwc or piece of equipment goes up for auction it also needs to be accompanied by documentation verifying ownership of the vessel. Specifically the title doc's. The condition of any craft up for sale can vary extremely so it is wisest to research the vessel before bidding. It may take some time to find the perfect boat but is usually worth the time invested.
The golden rule for any bidder is generally to know what the vessel is worth, to know what their budget can tolerate and to stick by those. Professional appraisals as well as a complete history of the vessel are only one part of the research but an important one. Not everyone can afford the time to attend an auction in person but most sales make arrangements for bidding online or by mail.
The excitement of an auction can cause new bidders to overbid and spend more than they can afford. This type of sale is fun and features a certain amount of competition in the bidding process. Boat auctions can be very enjoyable and cost effective if the bidder is wise.
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Boat auctions are a preferred option amongst buyers hoping for a reduced cost. Find an inventory of repo boats by looking online.
I did run into a guy at the lake that told me about this article from Leonard. The guy had followed the advice and had a 2 year old boat with a 150 horse engine and it only cost him $3,000. He was really happy not only did he have a new (to him) boat but a 9 lb. bass he had just caught from it.
I did run into a guy at the lake that told me about this article from Leonard. The guy had followed the advice and had a 2 year old boat with a 150 horse engine and it only cost him $3,000. He was really happy not only did he have a new (to him) boat but a 9 lb. bass he had just caught from it.
