The Danger of Boat Auctions

danger of boat auctions

danger of boat auctions

Boats that have crashed due to accidents, have sunk, were in a fire and boats suffering from Storm damage are patched up and sold at auctions every year. Often, these boats are being sold for extremely low prices at boat auctions. But these are not always the best way to go for boat buyers, as they may find the proverbial “cat in the bag” if they do not carefully inspect the vessel to be obtained.

Boat Auction Liquidators

During the September and October season, infamous for its hurricanes an increase in seriously damaged vessels is noticed each year. Many of those dented vessels have once again been patched up and can be seen online at the various domain auction sites like boatus.com. Many are tempted to buy as the prices are what is being referred to as “Give away prices”.
How about buying a 1900 36-ft Tiara for under twenty thousands dollars? This is less than a tenth of the boat’s actual value. It sound quite enticing, until it is considered that this boat went through a Hurricane leaving it with a 15-ft breach in the hull and damaged it throughout the ship for 20ft! The hurricane also left its mark at the engines, that will never be performing optimal again!
Opposite to this, a buyer looking to obtain a small, slightly damaged runabout, there are plenty of bargains for sale.

Separating the bad from the good at boat auctions

Distinguishing the bargains from the so called “Water holes” takes more than luck. Common sense is the best guide to any potential buyer at a boat auction. It is a good idea to always hire a marine surveyor to inspect the vessel of choice before making the purchase. A marine surveyor may cost several hundreds of dollars but is worth his weight in gold, as this may save the buyer from wasting thousands. Always make sure that the surveyor in question is qualified to do the inspection. Ask for credentials, and if possible compare the services against those of other marine surveyors.

In conclusion, when buying at a boat auction

Buying a boat from a boat auction may save hundreds and sometimes thousands of dollars, but make sure everything of the boat to be purchased is known. Any potential buyer must make sure every shortcoming of the boat, that is being purchased is known, not only for the money spent but also to ensure the personal safety of the boat owner to be.

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