Repo Boats-Boat Auctions a Common Site
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Hi gang, Rick Ostler here from North American Waterway bringing you Bayliner Parts and Bayliner Boats along with news and views from the boating industry. Here is a report from Three Sheets Northwest out of Seattle, WA.
Thick chains and padlocks aren’t typical mooring gear on most boats. But they are becoming a more common sight at some of the region’s marinas. repo boats-boat auctions in increasing numbers of boats for unpaid moorage bills. As the economy continues to take a toll, some people are simply walking away from the costs of owning a boat and leaving it up to marinas to deal with the aftermath.
That aftermath was dealt with in a matter of minutes on a recent Saturday at Elliott Bay Marina in Seattle. A small group gathered around a 41-foot Bayliner, chained to the dock and looking a little ragged for its 10 years. The repo boats-boat auctions was over almost as soon as it began, with an unnamed buyer picking up the boat for $64,000—about half of what it was worth.
Like other marinas, Elliott Bay has seen an increase in the number of boats impounded for unpaid moorage. Currently, there are four at the popular marina near downtown Seattle—not a large number, but more than twice as many as the marina typically sees.
At the Port of Everett’s marina, that situation is more dramatic. There are about a dozen boats currently impounded. The marina boat auctioned about 30 abandoned boats last year and expects this year’s number to be about the same.
“Up until the point of auction, they can get their boat back,” said Cyndy Olson, marina director. Olson said the Port of Everett will hold a boat in impound for at least 90 days before considering a boat auction. The time frame is similar at Elliott Bay. When a craft is boat auctioned, the marina keeps proceeds to cover back moorage and other fees, and sends the rest to the boat owner.
In the case of the boat auctioned Bayliner, Elliott Bay kept about $6,000 and will send the remaining $58,000 from the sale to the registered owner. “In this case, it was apparent that the owner divorced the boat from his mind,” said Doug Hickle, harbormaster at Elliott Bay.
There are some great deals to be had at repo boats-boat auctions. Boats can be purchased for as low as $100. Here are three repo boats-boat auctions websites for you to review.
http://www.auctionspass.com/seized_boats
http://www.car-auction.com/Seized_Boats
http://www.boatauctionsdirect.com/repo_boats
Tags: repo boats, boat auctions, boat auction, repossessed boats
