Buying Boats and Marine equipment at Auction
Most auctions have preview days, visiting the auction site to inspect the boats gives you a chance to see which boats are of interest so you can check on there realistic value for condition/age.
Talking to boat dealers/technicians is also valuable because they may know of problems with a certain model/s.
Check the classified ads to see what similar models sell for on the open market to use as a guide. Remember to assume the worst as repairs can be expensive – seized engines, rusted electronics etc. Boat auctions can be a bargain way into that dream boat with research and diligence to see that come true.
Boat Auction buyers guide
Defining the boat for your needs and lifestyle
- What size of boat, do you want a small boat or a larger boat?
- Do you want to water ski? Fish? Cruise?
- Do you want a boat you can pull on a trailer? For use on inland waterways? Coastal waterways?
- Do you want a larger boat for sailing, entertaining, extensive cruising, ocean fishing or diving?
- Do you plan to berth your boat in a marina? Larger boats are not usually trailered.
- How often do you plan to use your boat, will you use it seasonally or year-round?
- Can you park your boat at home or will you rent storage space?
- What are your boating skills, are you an experienced mariner or just starting out?
- Do your boating skills match the boat you want to buy or do you need instruction/training?
- How much do you want to pay, what is your price range?
- What will your marine insurance cost?
- Have you accounted for licensing, registration, permits, safety equipment etc.?
- How much will you need to spend for annual boat maintenance and or repairs?
Many boats are purchased each year without adequate research into the cost of ownership and suitability, get this right and you’re sure to have a less costly recreation machine.