Fishing Guide

When you are in a situation where you are thinking about buying a boat, you’ll find that a boat auction will give you a wide selection to choose from as well as prices that can’t be beaten. If you are thinking about buying a boat but have never been to an auction before, you’ll find that a few key facts can get you comfortable with the auction itself as well as ensuring that you get the boat of your dreams!

Know What You Are You Looking For

It’s extremely easy to get swayed by some of the more impressive vessels that you might see at an auction so make sure that you go in with a rough idea of what you want and what you are willing to pay. Think about what kind of use you will be getting out of it; whether it is to be seasonal or year round. Make sure that you have accounted for your licensing, registration, permits, and repairs, as well as thinking about how much you can spend on regular maintenance and slip fees. Keep in mind that there might be a 5% to 10% buyers’ premium over the winning bid.

Locating A Good Boat Auction

Unless you know someone who goes regularly, the best place to find a boat auctions is by looking online. You’ll find that there are sites that let you search for auctions in your physical location, and that there are others that run their auctions online. Make sure that when you try to purchase a boat from an online auction that you are purchasing from a reputable dealer and that you get all of the information on the boat that you are interested in beforehand. Despite the inherent risks, dealing with a boat auction online can get you a great boat for a fraction of its value.

Examine The Boat Before You Purchase It

Most boat auctions make all the boats that are to be auctioned available for viewing beforehand. Identify the boats in the lot that meet your requirements (in terms of price, features, quality, etc.) and inspect them to make sure that you will be getting a good deal. Once you have singled out two or three different boats, do extensive research on these options to find out which boat provides the best quality at the most affordable price. Once again, ensure that you know exactly what it is that you are looking for and stick to it! Impulse buys can sometimes be very costly!

Won The Bid For Your Boat? What Next?

Once you are successful in your bid there are a few additional things that you need to do before you can rush out on your maiden voyage. The most important thing to complete is the ownership contract. This contract should be in writing so that the boat will be legally your property. Make sure that everything pertaining to the boat is specified in the contract - the boat’s ownership history, its maintenance details, its mileage, etc. Get everything in writing to avoid any future legal issues.

A boat auction is a great place to get a terrific deal, if you remember what you are looking for and what you can spend. Take some time and see if you can find the boat of your dreams at your next boat auction!