The Ultimate Adventure Buying a sailboat can be quite an adventure; however, it has overtones of costs too. Conversely, sailboat auctions provide an excellent opportunity for boating enthusiasts to get good deals on used or even new sailboats at a very cheap price compared to the retail price. Whether you are an experienced sailor looking to upgrade or simply a first-time sailor in search of your inaugural vessel, sailboat auctions can be one unique way in which to score a fantastic deal. Throughout the course of this guide, we will explore how one navigates sailboat auctions in a manner that will enable him to look for what is available and make the most of the saved bucks. We will then outline Florida boat auctions, as the state is surrounded by ocean waters and has many such auctions running in the area.
How Sailboat Auctions Work
Sailboat auctions are one of the most active platforms through which buyers manage to purchase boats at impressive pricing. These include repossessed or salvage sailboats, or just plain second-hand boats for which people want a quick sale. The secret ingredient behind success lies in preparation, research, and gauging when the perfect deal is right in front of your eyes.
There are two major sailboat auctions:
- Live Auctions: These are the ‘classic’ type of auctions where participants in an auction get together in one location to bid. Bidders must either be present on site at an auction or have a representative present on their behalf.
- Online Auctions: The popularity of online sailboat auctions is very recent. In online sailboat auctions, buyers all over the world can place bids on a sailboat without necessarily attending the auction. Many of the online auctions will feature listings detailing photos, specifications, and sometimes even the inspection reports.
Why Consider Sailboat Auctions?
There are numerous reasons why sailboat auctions might be one of the best avenues through which to find a boat:
- Reasonable Price: Sailboats sold by auction generally sell at a cheaper price compared to others listed through conventional means. Since auctions are competitive in nature, the demand dictates the final price instead of an asking fixed price.
- Variety: There are several kinds of sailboats that you would find at an auction, starting from small sailboats used for recreation purposes to luxury yachts. From a starter boat to a high-end vessel, you are likely to find one that would fit your needs.
- Opportunity for Bargains: If you happen to be patient and know what you want, auctions can offer the most incredible bargains. Many boats are sold well below their current market value, especially in a situation where few people have bid on a particular vessel.
How to Prepare for Sailboat Auctions
Preparation is paramount when participating in a sailboat auction. Here’s how you can get ready so you can score the best deal possible:
- Do Your Homework on the Market: Prior to any auction, you need to have an idea about the current market value of the kind of sailboat in which you are interested. Knowledge of the fair market value for sailboats will, importantly, help you set a budget and avoid overbidding in an auction process.
- Understand the Terms and Conditions of the Auction: Every auction house is unique, and so too are the rules and procedures for online platforms. Make sure you read through and understand the terms and conditions including buyer’s premiums, payment requirements, and any warranties or guarantees.
- Inspect the Sailboat: If at all possible, inspect the sailboat before placing a bid. Most live auctions will allow for inspections in person, and some online auctions provide an inspection report. Look for damage, wear, and needed repairs. Remember, boats sold by auction are often sold “as-is,” with no guarantees as to vessel condition.
- Budget: It gets exciting, especially during the bidding, with the temptation to really go all out. Set a firm budget before the beginning of the auction. Sometimes, remember other costs for transportation, repairs, and buyer’s fees.
- Secure Financing: If you are planning to finance your purchase, secure preapproval from a lender before participating in the auction. Many auctions require immediate payment or a deposit after a successful bid; having financing will make the transaction smooth and easy.
How to Handle Sailboat Auctions
Now that you’ve done your research and prepared for it, it’s time to participate in the auction. Whether you are attending a live auction or taking part in an online one, here are a few things to think about when it comes to sailboat auctions:
- Bid Strategically: The first thing you do is start a bid low and increase as necessary. What you do not want to do is jump right into your maximum bid for this will only serve to drive up a price needlessly. Rather, watch how other bidders are participating in the online auction and place your bids accordingly.
- Know when to back away: Sometimes, having remained in the bidding for some time, or probably you are just near closing the deal by winning, this might get very tempting. Sometimes, it is good to know when to fold them and walk away. If it goes over your budget or over the value of the sailboat, allow another to take the win.
- Take your time: Remember, there’s no pressure to purchase a sailboat on your maiden auction. Sometimes, it takes a number of auctions to finally come across the perfect sailboat for the perfect price. Patience, they say, is a virtue in making a great deal.
- Stay informed: Almost all auctions have last minute changes such as knocking off or adding boats to their list of things to be auctioned. Be well informed by checking with the auction site from day to day for changes.
Boat auctions in Florida
Florida is definitely one of the hotspots in finding excellent deals in sailboat auctions. With its lengthy coastline and an immensely large boating community, Florida is a primary location for both live and online boat auctions. From finding that small sailboat to enjoy the waters of the Florida Keys to that bigger vessel for the Gulf Coast cruise, Florida auctions have so much in store.
Here are some of the more popular auction houses and platforms for boat auctions within the state of Florida:
- GovDeals: GovDeals is an online auction house that allows government agencies to sell boats either surplus to their requirements or seized by various authorities. You can find boats at sometimes a fraction of their retail price, making it a good option for low-budget buyers.
- AuctionZip: It is an overall online auction directory that lists live and online Florida boat auctions. You will want to filter by location and type of auction to get the best deals near your location.
- Boat Auction Companies: Several companies specialize in hosting auctions throughout Florida, such as BoatAuction.com and National Liquidators. Some of these host auctions for repossessed, salvaged, or seized boats.
- Other Local Marina and Boat Yards: Most other local marinas and boat yards throughout Florida hold their own type of auctions, especially for those watercraft that have been abandoned or may need repairs. Look for local listings, or give a call to the local marinas in your area to find out if they have any auctions coming up.
Conclusion
Sailboat auctions may be one heck of a thrilling way to obtain good sailboats without having to spend huge amounts of money. Go into it with extreme preparation, strong research of the market, and a well-articulated strategy for bidding. Every place offers opportunities to get an amazing deal on a new sailboat, be it boat auctions in Florida or elsewhere around the world. Finally, get ready to set sail on your new adventure without busting your wallet.
