Boat Liquidators

All you need to know about boat liquidation

When seeking a boat for sale, you may wish to consider a boat liquidation sale. Boat liquidation auctions are the result of boats which have been repossessed by the investor, usually the financial lender, and require immediate sales in order to offset the loss that the financers would obtain if the vessel was not sold. While this is unfortunate for the original purchaser of the boat, it does offer an ideal opportunity for qualified buyers to obtain the boat of his or her dreams for a fraction of the cost. However, before you attend a boat liquidation sale there are a few things that you should know.

Sold As-Is

Boat liquidators are in the business of obtaining capital quickly for the boat which was repossessed. In many instances, the bank or the lender will not take the time to have a full inspection of the vessel, but will just ensure that the boat can operate without sinking. As such, anyone who purchases a boat from a liquidation sale should be cautious of problems with the starter, the electrical system, outboard motors, and such.

Repo boats are sold as-is. This means that there are no warranty or guarantees to the boats. It is a coin toss that plays to the gambler nature and the deal seeker side of the business. This is not to state that liquidations are a bad thing, but rather that the purchaser should note that the reason that the boat is discounted is to avoid having to pay for inspections and (depending upon the repo company you choose) sea tests.

What is the history of the boat?

It is critical that when you go to a liquidation sale that you ask the seller about the history of the boat. Sometimes, not often, boats at repo sales will be police repossessions of stolen and stripped boats. While there may be an effort to spruce up the boat, there could be vital elements missing. Additionally, if a dealership is selling a boat as liquidation, the potential buyer should inquire as to the history of the boat. Has the boat been dry docked for a long time? Has the boat been wrecked? How many miles does the engine have upon it? All these questions should be asked prior to purchasing the vessel.

Just a little bit of work

Your inquiries into the boat’s history may yield the answer that the boat for sale needs minimal handyman work. Be cautious. While there could only be some minor cost involved in the “fix-up” process, the boat is being sold as-is and the repairs could become substantial. Think of it in terms of doing a rebuild on a house. There are always hidden costs, unforeseen problems, and fees that are not calculated in. Additionally, if you are purchasing an older model boat liquidation, parts may not be available or may be rather pricy, depending upon the model.

The Good side to boat liquidators

Not all boat liquidators are bad. There are many instances where you will be able to find a great deal on a boat through an auction or a repossession. It is advised that you choose a boat from a creditable source, and that you perform due diligence in inspecting the boat. Should you wish to find a liquidator in Florida, there are a few to choose from. These are:

  • Marine Connection Liquidators
  • National Liquidators
  • South Shore Liquidators
  • Marine Surplus
  • Global Marine Boats

Keep in mind that banks are apt to have private auctions and local liquidation sales. Check your classified ads for upcoming events and details.

A safer way to purchase for less

Though there is nothing substantially negative about the boat liquidation sales, some may wish to find a more secure and safer means of purchasing their boat for sale. Vessel Vendor is the number one pre-owned boat listing site in Florida. Our boats are from the top manufacturers, brands, listers, and distributors. Many of the boats are one owner with transferable warranties on either the motors or bow to stern (check with the lister for details).

Not sure which boat is the best for you? Don’t worry. Vessel Vendor provides several useful articles such as boat reviews, manufacturer summary pages, location pages, and specification pages to help you with your purchasing decision.

Do you have a boat to sell? Great. You will find that our listing platform is intuitive, allowing you to post all the information and pictures you need to sell your boat.

Should you have any questions about boat liquidations, purchasing or listing your boat for sale with Vessel Vendor, or if you have any general questions about Vessel Vendor, please fill out the appropriate form and we will answer your inquiry as quickly as possible. We look forward to hearing from you soon and happy boating.