Boat or yacht auctions are a great way to find the boat of your choice. Boat auctions offer various advantages to the boat buyer such as a wide variety of boats and yachts for sale to choose from. Boat auctions often showcase numerous motor yachts, cruiser boats, sailing yachts, luxury yachts and power yachts for sale by bidding. These boats and yachts are generally of superior quality and bidders hope to get them at lower costs since the auctioneer would generally seek to sell off the boat so as to avoid any further storage and holding costs, maintenance and insurance expenses or docking charges. However, there are few things to consider before one makes a boat or yacht purchase through an auction.

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2. Boat Auctions
• Boat or yacht auctions are a great way to find the boat of
your choice.
• Boat auctions often showcase numerous motor yachts,
cruiser boats, sailing yachts, luxury yachts and power
yachts for sale by bidding.
• However, few things need to be considered before
purchasing a boat or yacht through an auction.
• This presentation touches upon those areas up for
consideration.

3. Points To Consider
• Understand: Auction is not a distress sale. The
auctioneer aims to get maximum amount for the yacht or
boat for sale and not to merely dispose off the yacht or
boat.
• Research: Do a lot of research as a part of readying
yourself for the auction bidding process. Give a lot of
thought to your boating requirements. Ask questions like:
• What are you buying the boat for?
• Do you plan to have overnight boating expeditions?
• How many persons are expected to be in the boat?
• How much storage space would you require?
• Where will you be boating mostly?

4. Narrow Down Your Choice
• Answering these questions will narrow down your
choice of boats, making it easy for you to select the boat
or yacht that’s right for you.
• Once you know the kind of boat or yacht that’s right for
you, get more details about them. There are a lot of
websites that provide information on boating and boats.

5. Bid Carefully
• When bidding in the boat or yacht auction, bid carefully
and according to the budget you’ve set for yourself.
• Don’t get carried away
• Bidding on a damaged boat owing to its low sale price, is
only advisable if you know the extent of damage very
well and are sure of the cost of repairs.
• If you’re a first time boat buyer, it’s best to avoid such
damaged boats

6. Other Areas of Consideration
• Auctioneer: Always check the credibility of the
auctioneer, especially in the case of private
auctioneering companies.
• Terms & Conditions: Know the terms and conditions of
the auction before bidding.
• Check the bid or sale contract for any window period to
cancel your bid.
• This leaves room for you to back out if you find the yacht
or boat you bid for is not worth it.

7. • Survey & Sea-Trial: A sea-trial and a marine survey by
an authentic surveyor are essentials to ensuring your
yacht is sea-worthy. For tips on selecting the right
marine surveyor, please click here.
• Preview Days: Auctions have ‘preview days’ where
prospective bidders are allowed to see and inspect the
yachts and boats up for auction. Make good use of these
preview days.
Other Areas of Consideration

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