Strong clearance rate for Marine Auctions

by Bob Wonders on 17 Sep 2010

The marina arms were almost as crowded as the hard stand area as chief auctioneer Adrian Seiffert wielded the hammer at the Runaway Bay auction. Bob Wonders

More than 200 bidders registered for the gala boat auction on the weekend, staged by Brisbane-headquartered Marine Auctions at the Runaway Bay Marina, on the Queensland Gold Coast. About 50 vessels were scheduled to go under the hammer, with Marine Auctions CEO Adrian Seiffert reporting a clearance rate in the region of 60 percent.

'Actually, we've sold another four craft since the auction as a result of follow up, so the clearance rate now is probably closer to 65 percent,' he said.

The Saturday auction attracted the largest crowd I've seen recently at an auction, with the attendance estimated at anywhere from 350 to 1000 at various times during the sale. 'I looked up at one stage and thought we'd better think about building a grandstand to get them all in,' Adrian joked.

At time of writing, the Marine Auctions team was involved in ‘serious negotiations' with a prospective buyer for the Sea Ray 525, which had attracted an offer of $670,000. 'The seller was looking for an offer around $700,000, so we're fairly close,' Adrian explained.

'We've also sold a Meridian 40' cruiser at $300,000, the sale subject to a successful sea trial which I don't expect to cause any problems,' he added. Adrian said buyers were 'definitely out there', but in almost every case were looking for 'real bargains.' 'And the bargains are out there, too, 'he added.

'Quality boats manufactured in the time span 2002 to 2006 are fetching 50 to 60 percent of their original retail price, so for those who choose wisely there are certainly good buys to be had.'

One of the best sales on the day was a 42 Mustang cruiser, said to be in 'mint' condition, which went for $225,000. 'That represented a real saving for the successful bidder for a new Mustang in this series would retail close to half a million dollars,' Adrian declared.

Adrian will next go into action with the hammer at the Meridien Marina, Horizon Shores, just north of the Gold Coast. The auction is set for an 11am start on October 16.

Boaters looking for a 'parking spot' would do well to attend, as several freehold marina berths at the Meridien Marinas complex are among joining the array of boats being offered.

To register for the auction, contact Marine Auctions, Rivergate, Brisbane, telephone (07) 3268-3614.