The year 2009, has been one of THE best years for buying boats at state or local bank liquidation auctions. As a frequent boat auction follower myself it’s typically accepted that a vessel sold at auction will deliver a 15-20% savings compared to retail.

That’s big!… especially when considering larger vessels retailing over $100K..the savings can really be big. Now fast forward to now where boat auctions has only served to up that percentage to as high as 30%.

Boat auction in the states — especially in the harder hit (Florida, California, New York, and Arizona) are seeing banks and credit unions more aggressive in their re-marketing of bad debt assets. SunTrust Banks Senior V.P. Don Parkhurst says with regards to their repossessed marine inventory, “You’ve just got to lower the price to where you can move it. You’ve just got to take the hit.”

The rise in repossessed boats across the U.S. with most every lender has attracted new buyers who can now literally buy a late model vessel for suprisingly less than what a new boat buyer paid 3-4 years ago for the same make and model. Boat auction sources like National liquidators and Boat Auctions Direct have indicated that with the value decline of the U.S. dollar coupled with the rise of repossessed collateral shrewd international investors particularly from Australia, UK, and Canada taking advantage of this high tide.

So how can you take advantage as well? The key is consistently reviewing auction listings. Frequenting auctions, online listings, classifieds, and dealer liquidations. Only by comparing asking prices and recent sales of similar models of the type of boat you’re interested in can you brag about savings of 50% or more. It’s really not much luck as it is smart shopping with the right tools.