Boat Auction Value vs. Average Retail Value?
Does anyone know what the average discount is for boats at auction? For example, if the average retail value is $10,000 but I can get it at auction for $6,000, then the discount is 40%. Obviously it varies with make, model, size etc, but I'm just looking for an average.
There is no average. I would doubt that anyone has ever calculated this because it is useless information. The average could be 40%, but the boat you want might auction off for more than it's appraised value.
There is an old saying. The item is worth what you can find someone willing to pay for it. Whoever is at the auction that day with money in their pocket will determine the discount on the boat that you want!
There are lots of ways for shopping for items today other than auctions. Make sure you shop around for what you want, set a limit on what you will spend, before you go to the auction. Do not go over your limit. Auctions are dangerous on the wallet because people do not have time to have items inspected and they get caught up in the excitement of bidding.
Be cautious and have fun!
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There is no average. I would doubt that anyone has ever calculated this because it is useless information. The average could be 40%, but the boat you want might auction off for more than it's appraised value.
There is an old saying. The item is worth what you can find someone willing to pay for it. Whoever is at the auction that day with money in their pocket will determine the discount on the boat that you want!
There are lots of ways for shopping for items today other than auctions. Make sure you shop around for what you want, set a limit on what you will spend, before you go to the auction. Do not go over your limit. Auctions are dangerous on the wallet because people do not have time to have items inspected and they get caught up in the excitement of bidding.
Be cautious and have fun!
References :
You really don't know anything about boats.. do you?
You don't need an auction to buy a boat for 50% of it's value… you just walk down the dock in ANY marina and make offers.. at any time at least HALF of the small boats in the world are for sale
I have seen some real buys during DEA or SHREIFF'S auctions… but you have to be there to get them and YOU NEED TO KNOW BOATS because if you don't know what you are doing… YOU CAN TAKE A BATH.
References :
There really is no such thing as an average. Unlike the auto industry, boats don't go to auction when they're traded in (once in a great while will they find their way in). You figure that a car goes to auction for a reason, i.e. high mileage, rust, engine/transmission problems, nasty interior, accidents, and the list goes on and on. If a boat is at an auction, it just may be for the same reasons. Obviously, the better built boats hold their value longer like a Sea Ray, Parker, Grady, etc. Your best bet for getting a good deal on a boat is just to shop everyone you can get your hands on. Find the boat you want, and then head out with the intent of buying. Remember the saying "All buyers are liars." Don't be afraid to fib a little bit to get the deal you want…if you can afford to buy a boat now, now is the time to do it. Good Luck!
References :
Been in the business 20 plus years.