My 2 cents is free

Whenever anyone hears the mention of boat auctions in this economy most conjure up images of 50′ Sea Ray yachts or Triton Bass Boats being liquidated for “Up to 90% off!”. After all financing companies need to clean up their books, and the U.S. Government simply can’t hold onto its seized or theft recovered boats forever!
To a degree there is a thread of truth in both schools of thought but internet marketers tend to milk these realities to serve their own needs to where they become outright myths. I’m sure there are a few folks somewhere who somehow managed to attend a US Government Boat Auction or Bank affiliated auction managing to miraculously ‘steal’ a 20′ aluminum bass boat with a 220 outboard and trailer for a jaw dropping $699. But these types of steals though not impossible they’re are highly improbable.

Any boat auction that lists boats for $100 isn’t worth attending. Seriously, any vessel with size that sells for under a few hundred bucks is going to be a salvage. So then unless you’re a DIY’er you’re not going to have big fun and recreation out on the lake anytime soon with a salvaged vessel.

For the most part this may seem obvious yet there are the innocent naive attending publicly held Manheim boat auctions across the country who have delusions of grandeur when it comes to purchasing bank owned boat repos at auctions.

Don’t get me wrong I’m not saying deals don’t exist..they do. But most of the the larger, well-known used boat auction houses will tell you that on average their bank repo inventory will liquidate for between 15-30% off of market value. This has been supported by National Liquidators, Boat Auctions Direct, and International Boat & Marine, companies that liquidate boat repos daily.

Popular makes similar to Hatteras, Sea Ray, Viking, etc. are typically more likely to sell at a boat auction for more than less than popular ‘odd’ makes and models. Also, understanding the repairs and maintenance needed (if any) can give you a lot more leverage when negotiating with the lender or owner. Use that to your advantage.
Saving even 30% on a 50′ repossessed yacht is not only real it’s a substantial savings. Considering that as the average you can expect to improve upon that by evaluating more boats more often than what others are willing to. That’s really what it comes down to…finding deals inside any type of free market i.e. real estate, garage sales, the stock market, boat auctions, etc. It boils down to the harder you work the luckier you get

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