This has without a doubt been a banner year for buying boats and water toys at state or local repossession auctions. As a frequent boat auction attendee myself it’s usually accepted that a boat sold at auction will offer a 15-20% discount relative to retail.

That’s big!… especially when considering larger boats retailing over $100,000..the savings can really be big. Add to that boat auctions has only served to increase that percentage.

Boats auction in the U.S. — especially in the harder hit (California, New York, Florida, and Arizona) are seeing banks and credit unions more aggressive in their re-marketing strategies of ‘non-performing’ assets. SunTrust Banks Senior VP, Don Parkhurst concluded with regards to their repossessed boat inventory, “You’ve just got to lower the price to where you can move it. You’ve just got to take the hit.”

The rise in repossessed boats across the states with most every lender has attracted new boat buyers who can now literally buy a late model repossession for significantly less than what a new boat buyer paid 3-4 years ago for the same make and model. Boat auction liquidation sources like National liquidators and Boat Auctions Direct have indicated that with the decline of the U.S. dollar coupled with the rise of repossessed collateral shrewd international investors particularly from Australia, UK, and Canada taking advantage of this high tide.

So how can you get in on the action as well? The key is frequently reviewing auction listings. Staying in front of boat auctions, online listings, classifieds, and dealer liquidations. Only by comparing asking prices and recent sales of similar models of the type of boat you’re interested in can you brag about savings of 50% or more. It’s really not much luck as it is smart shopping with the right tools.

Tags: buying boats, national liquidators, new york florida, repossession auctions

This year has been simply the best of years for buying boats and water toys at state or local bank repo auctions. As a frequent boat auction attendee myself it’s usually accepted that a vessel sold at auction will deliver a 15-20% savings compared to book value.

That’s big!… especially when considering larger vessels retailing over $100K..the savings can be really be significantHowever, boat auctions has only served to up that percentage to as high as 30%.

Boat auction in the states — especially in the hardest hit (California, New York, Florida, and Arizona) are seeing financial institutions like banks and credit unions more aggressive in their re-marketing strategies of non-performing assets. SunTrust Banks Senior vice president Don Parkhurst concluded with regards to their repossessed boat inventory, “You’ve just got to lower the price to where you can move it. You’ve just got to take the hit.”

The surge in repossessed boats across USA with most every lender has attracted buyers who can now literally buy a late model repo for substantially less than what a new boat buyer threw down 3-4 years earlier for the same make and model. Notable boat auction companies like National liquidators and Boat Auctions Direct have indicated that with the value decline of the U.S. dollar coupled with the rise of repo boats shrewd international investors particularly from Australia, UK, and Canada taking advantage of this high tide.

So how can you save on a boat this year as well? The key is regularly reviewing listings. Frequenting auctions, online listings, classifieds, and dealer liquidations. Only by comparing asking prices and recent sales of similar models of the type of boat you’re interested in can you reap savings of 50% or more. It’s really not much luck as it is smart shopping with the right tools.

Tags: bank repo auctions, boat auctions, buying boats, national liquidators, new york florida, repossessed boats