Marine Auctions experiencing rising tide of interest

by Jeni Bone on 8 Jul 2014 Things are picking up in the marine auction scene, thanks to a combination of fine winter weather, positive consumer sentiment and rising international interest.

According to Adrian Seiffert, MD at Marine Auctions, people are increasingly comfortable relying on auctions to buy and sell boats.

'We are finding we have about 50% clearance at auctions, then that rises to 70% a couple of weeks after when we sell it privately. People are still cautious, and they’re looking for a good deal, no doubt about it, but they still buying boats.'

While he admits there are more boats on the market than there are buyers, Adrian says it’s a great time to buy. 'People are seeking bargains, and we encourage that impression of auctions, but the real benefit of auctions is that like selling your home, you get the price the market is willing to pay by a certain deadline. It’s not lingering for months, sometime years. Our sellers want to sell, so buyers can secure the best price.

'Sellers are assured that with the marketing we do, they will be getting the most the market is willing to pay.'

For example, Seiffert explains, they recently had an Horizon 70 up for auction. It was passed in at auction under the reserve, and the post-auction, Seiffert negotiated with an interested party and settled on a price both buyer and seller were very happy with.

Late models boats and yachts are selling particularly well, Seiffert reveals. 'People are looking for low hours and under 10 years old,' he says. 'There is a glut of sport cruisers on the market at the moment, while power cats and the classic sailing boat brands like Hanse and Beneteau are selling well.'

The next auction will be held Sunday 20 July at Runaway Bay on Queensland’s Gold Coast, and the schedule of online auctions will be available on the Marine Auctions site.

'We are finding that marina berths are coming back into popularity as well,' adds Adrian. 'Some are a very good investment, depending on location and terms.'

Another emerging trend is overseas enquiry. 'We are getting calls and emails from New Zealand, Asia and even the US, as people rely more on online research to find and buy a boat. In the past four to six weeks enquiry has been up around 15% on this time last year, which is great.'

www.marineauctions.com.au