websites for foreclosed boats?

curious to know if anyone has websites for foreclosure boats? thanks in advance. I am located in the midwest(cincinnati)

google it. I just did it and tons of stuff popped up.

The best place to find those will be on auction sites (ie Manheim, Adesa, etc.) The problem is that they are for registered dealers only. A buddy and I buy and sell these from these sites. You can generally find great deals on them if you can win the bid. We have actually sold a few on this site. We try to price them here about 4-5K below the lowest price we can find anywhere.

We might start thinking about coming up with some kind of system where we could post up the boats for auction. Then come up with a secondary auction or listing where you guys could commit to a certain price and buy it if we win the bid.

Any ideas and would anyone be interested in this sort of thing?

(Message edited by bmh2208 on June 18, 2009)

(Message edited by bmh2208 on June 18, 2009)

www.crankyape.com has some.

I sent you a PM, i would check with those auction sites though to make sure that you have the right to do this...

Im just not impressed with the auction sites.Most of the stuff they have is garbage or over priced.
I found better deals through private sellers or new old stock boats that dealers need to move.

Brandon, I have a guy in my area that does that with cars. Basically you tell him what you want and what you are willing to pay, show him that you have secured financing (if needed) and he goes to the Auction to find your ride. It works great for the buyer, as they have a certified mechanic going through the car, you get a good deal and don't have to mess with it. It's a little gnarly buying a ride sight unseen but once you get the car, it's awesome.

I would be totally up for something like that with boats, its a small niche market but I bet you could get very busy.

if anyone is intrested in gettting something from a dealer auction. i have the licence. i could give a ww discount. pm me for details.

I've seen some decent deals from these auction sites I've also seen some people get bent over big time. I've seen two boats listed as winterized with cracked engine blocks, one with MAJOR gel coat damage and one that had structural damage far above what was listed. If you're gonna shop the auction go in person!!!

So do ya think someone was drunk at the drill here or what? They were only off by like 3 feet with the tower. Close enough ;)

(Message edited by flyspec14 on June 18, 2009)

I'm not one to argue but maybe that's where they wanted it??

have fun climbing in that thing

Most of the good repo's the main banks have go to big brokers or one of 3-4 primary auctions which are dealer only. I specialize in bank repo's, buying 6-10 a month at least and wakeboard boats are scarce at these sales. The nice boats still bring GOOD money as there are a ton of dealers at these sales, all looking for nice boats and wakeboard boats are in HIGH demand. I have an 08 Tige RZ4, 08 SAN 230 Team right now. Both nice boats....Tige is around $47k and SAN is $55k

Midwest Marine Repo Center

http://www.skipperbuds.com/page.aspx/pageid/12534/page.aspx

Boat Auctions Direct:
http://boatauctionsdirect.com/a3m5em7br/

I made the mistake of paying for access, what a rip! Not what I expected, but has some good links.

User: walker44
password: wakeworld

enjoy

Reply, that 5 Million Inventory auction in North Caronlina on June 27 looks interesting. I see quite a bit of Mastercrafts and Nautiques. Wish it was closer.

I had to check out the boatauctionsdirect site. None of this is secret news and you can find all this by a google search. The $5 million inventory auction is a sale being done for North Point Watersports and there is a reserve on all boats which I am sure is dealer net net cost. Some of the others are not even direct repo brokers for the bank.

Commonwealth, owned by Larry King, up in VA buys all their boats from Adesa, Manheim and Americas Auto Auction as I see him at least 2x a month buying inventory. His marketing makes one think he is directly involved with the bank which is false. National Yacht Liquidators ahs several location and do deal with the banks, however they have a full blown sales force and price their inventory (which is bank owned) at NADA average retail. They know the bank will take about 80% of NADA trade-in but they get they buyer to pay sometimes tens of thousands more than this. I used to buy a few from one of the GM's there but they are so tough to deal with. US Auctions deals in alot of salvage and insurance boats and there are occationally a few good deals there. Harrison Marine in MI has bank owned repo's but again, they price them at NADA average retail plus adds and get buyers to pay more than you would at most dealers. It is really tough to find a way to deal bank direct, unless you go to one of the main auctions and even then, finding what you are looking for is hit and miss. Typically a nice bank repo boat can be bought from 0-20% below NADA low/trade-in value. There are a TON of dealers that used to sell new that have gotten more into the used business. I know some who are only doing used now so the demand has picked up at these auctions, not to mention the overseas and canadian buyers who are flocking here to get deals.}