Join Date: Oct 2011
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Re: Auction Boats?
If it's an auction, how do you know the price?
I bought my present boat at auction (at the second attempt) and before that bid on but didn't win a couple. It is usually strictly "as is, where is". For a conventional auction, there is a viewing day and I guess you could turn up with a surveyor but do you really want to pay a surveyor for a boat you may not win? If you aren't comfortable spending a few hours crawling all over a boat and then figure out what you know, what you don't know and how big a risk you are willing to take, I would say an auction isn't for you.
True auction boats have usually have been repossessed and often were neglected prior to that. i.e. they usually have issues and sometimes issues that aren't obvious. You also need a really good idea of what the boat is worth and you won't figure that out from one evening looking at Yachtworld.
I know nothing about the online sealed bid type auctions but I don't trust them.
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