You must imagine that private sellers are going to make sure they let go of their property for what “they believe to think it’s worth,” and they will factor in their upgrades and the like.
At boat auctions it is a completely different playing field. The inventory is usually massive, and the lenders invested in moving this property are making deals like crazy to just get these boats off their hands.
One possible setback to the boat buyer when thinking about using an auction, is where to find these auctions in the first place.
The savvy buyer may know but to the new boat buyer, it may seem these auctions do not exist unless you are “in,” with the right people in order to get first hand information.
This, is not true in all cases, and in fact there could be one down the street from you now as you read this.
Where to look for these boat auctions?
Checking local listings and boat classifieds is a start, but many auctions are not even advertised, which means you could be missing many of them , but it also means locating them lends far better deals as they are not swarmed by the masses.
Word of mouth boat auction hunting is a possibility, and a great place to start is at dealerships and with brokers. Ask them…they know!
Yes, there can be work involved in boat auction shopping, but the pay off is surely sweet success.
Imagine taking 20-80% off the original price tag of a boat. Whether the boat you buy at an auction will be for personal use, or for investment purposes, boat auctions will put you far ahead in the boat buying game.
In 2009 alone, boat auctions are vastly on the rise due to the growing economic turns. Lenders and law enforcement are cracking down considerably and these “un-performing assets,” end up consuming large amounts of space. These boat auctions are then at the mercy of the buyer in essence, because they just can’t store the rising amounts of property that are seized. This lends the boat buyer endless opportunities to save more dollars on a boat than ever before. The more property that needs to be moved, the better the prices. Many of these boats are like puppies without a home, just waiting in line for their turn to be sold.
Let boat auctions work for you to save you considerable amounts of money, and get you on the water as soon as possible.