| Due to the economic conditions I understood boat | | | | Differential: 84.8% less at auction |
| sales prices (especially at auction) would be down. | | | | 2006 23' Baja Outlaw |
| However, I didn't realize how much until I | | | | Retail: $44,000 w/trailer |
| conducted my own sales survey comparing repos | | | | Auction: $18,995 w/trailer |
| to retail. | | | | Differential: 57% less at auction |
| For the past seven years I have been chasing | | | | 2004 18' Bayliner 185 |
| boat auctions. And just so you know -- in spite of | | | | Retail: $8,990 w/ trailer |
| what the marketing headlines lure you to believe: | | | | Auction: $6,480 w/ trailer |
| "Repo Boats for $100!", I have yet to witness of | | | | Differential: 29.1% less at auction |
| a legitimate, sea worthy vessel sell at auction for | | | | 2007 28' Rinker 262 Captiva |
| anywhere close to $100...unless of course it's a | | | | Retail: $40,860 w/o trailer |
| kayak, or inflatable. I am not saying you won't | | | | Auction: 27,050 w/trailer |
| ever find a ridiculously, cheap boat for sale like | | | | Differential: 24% less at auction |
| that...but don't expect it. | | | | 2004 24' Sea Ray 240 SD Retail: $29,525 w/ |
| So then what can you expect to find and then | | | | trailer |
| pay at a local boat auction? Can you really buy a | | | | Auction: $15,800 w/ trailer |
| 20' Bayliner for 60% of market value? That's too | | | | Differential: 47.1% less at auction |
| good to be true, right? | | | | 2008 Hurricane Sun Deck 2400 |
| Well, based on figures from recent sales (below) | | | | Retail: $35,100 w/o trailer |
| it's highly probable that you can potentially save at | | | | Auction: $18,900 w/o trailer |
| least 50% at auction. | | | | Differential: 46.2 less at auction |
| While researching some sales comparisons | | | | It turned out to be more accurate to compare |
| between wholesale and retail, I was amazed at | | | | apples with apples by selecting late model vessels. |
| the consistent sales price differential. And I made | | | | Older models are often in all different stages of |
| a diligent effort to compare the same or virtually | | | | conditioning making it difficult to get an legitimate |
| identical boats sold within the same time frame. | | | | comparison. |
| So by comparing sales records with the same | | | | Again, this survey represents a small sample |
| type, year, make, model, hours, condition, power, | | | | that's indicative of a much bigger picture in terms |
| accessories, trailer equipped, etc., I was able to | | | | of what boat auctions should offer compared to |
| get some meaningful results. | | | | retail pricing. |
| So, here's just a few boat sales records pulled at | | | | Typically, about 20% to 25% savings at auction is |
| random that compares actual retail pricing versus | | | | considered average according to most boat |
| auction pricing: | | | | auctions sources. Which is actually more reflective |
| 2009 29' Monterey 280 SCR Retail: $115,100 w/o | | | | of the auction market prior to 2004, when boat |
| trailer | | | | buyers were borrowing against their homes |
| Auction: $89,352 w/o trailer | | | | equity. |
| Differential: 22% less at auction | | | | The current savings at auction (35%-45%) is |
| 2000 20' Chaparral 205 SSE Retail: $10,000 w/ | | | | primarily attributed to the motivation lenders have |
| trailer | | | | to write off 'non-performing assets' as quickly and |
| Auction: $1,550 w/ trailer | | | | efficiently as possible. |