Are you in the market for a new boat? Maybe you’re interested in a used one. Either way, online boat auctions can be a great way to find the perfect boat for your needs.
Are you in the market for a new boat? Maybe you’re interested in a used one. Either way, online boat auctions can be a great way to find the perfect boat for your needs.
But with so many options and potential pitfalls, it can be tough to know where to start.That's why we’ve put together a simple five-step guide to help you navigate the online boat auction process.
Step 1: Contact the boat listing agent to request further information:
Detailed information from the boat listing agent about the boat's condition and maintenance history, including an inventory report prepared during the listing, a survey report if available, and monthly cost to operate the boat and additional photos, and videos.
Do remember however, that some owners provide less information than others. And while we may recommend that the owners provide certain information, for example survey reports, but due to the cost, sometimes we don't get them. If this happens you need to weigh up the pros and cons of getting the survey yourself.
Step 2: Make an appointment with an online auction advisor
If you need more help, an advisor will provide you with a copy of the research on comparative boats on the market and help you to consider what the current market value of the boat might be.They'll also help you decide on the value for the boat so that you can determine your maximum bid range—and also help identify maintenance that may be required if you buy the boat. They'll also help make plans to view the boat.
Step 3: Request a survey
The next step is to determine if a survey should be requested or not. We always recommend asking for a survey, but if the owner doesn't have one then it's going to be up to the buyer to get one.
Step 4: Register yourself
Once you have decided on the auction boat, it's time to register yourself. This can be done here at BASCO Boat Guru App.You will need to provide your personal information and agree to the payment terms of the online auction. Also, consider engaging your advisor to assist you during the six-day online auction process.
Step 5: Take action
When the auction starts, enter your bid and watch the prices carefully over the next six days. Bid to your maximum bid range and discuss a change in buying strategy. To make the online bidding process easier, you can add your confidential maximum bid price and allow the proxy bid to incrementally bid on your behalf.
This means that if someone else places a higher bid, your proxy will add an increment.And that’s it.You can win a bid when you truly know what to DO!
If that sounds like something you'd be interested in, CHECK out here our recent listing for an online boat auction coming in October.
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