Demand increases for all types of boats- Marine Auctions

by Marine Auctions & Valuations on 29 May 2012 Adrian Seiffert, Director of Marine Auctions said sale prices for all types of boats sold at their last regular boat auction, held at Runaway Bay last Sunday, (May 27) increased by around 15 to 20%.

Adrian also said that the enquiry level for this auction was the best he has seen in the last 2 years, with a very strong interest coming from Brisbane which he believes can be attributable to the Queensland mining boom.

The majority of mining workers fly in and out of Brisbane with many of them living in the city and surrounding suburbs and many of the major corporations associated with the industry have offices in the CBD.

More than 500 people attended the auction with bidders coming from every state of Australia and also from New Zealand. A substantial increase in absentee and telephone bidders was also experienced and of the 40 lots offered for sale, 50% of them were sold under the hammer and another 10 vessels are expected to be sold within the next two weeks.

Some of the vessels sold at the auction were
• 1999 Perry 43 Sailing Catamaran sold for $222,000.
• 2005 Sea Ray 270SLX sold for $53,575.
• 2008 Bayliner 288 Discovery sold for $61,000.
• 1996 Haines Hunter 580 SC sold for $20,000.
• New Noble 5m without motor and trailer sold for $17,500.

Some of the boats that were passed in included
1990 Riviera 39 Platinum passed in at $300,000 (reserve $325,000)
2003 Mustang 3800 passed in at $85,000 (reserve $100,000)
Pacific 52 passed in at $200,000 (reserve $250,000)

Adrian was very pleased to see buyer demand increasing considerably over the last couple of months for all types of vessels, especially the top end of the market, with a lot of interest in the 50ft to 60ft range with a budget of around $1 to $3m.

He said that while the values of used boats may struggle to achieve the solid prices they did a few years ago, he believes that now is the right time to buy as all indications point towards price increases over the coming months.

More at www.marineauctions.com.au