Auction - How To Sell Your Boat
Consign Your boat: The best slots for the auction are given to boats that register early and provide the most comprehensive information to help us sell your boat. As well, early consignment allows for maximum exposure for your boat and will aid in its successful sale on auction day.
Take Advantage of Advertising: Excellent quality or professional photos with your early consignment are essential and can be used in pre-auction and promotional materials. If you include your photos and the title of your boat, you can expect antiqueboatamerica.com’s add campaign to help sell your boat.
Have Your Paperwork Correct: Correct title, properly completed forms, and paid registration, will expedite your registration process. At the auction site, express check-in lines are provided for those who have completed all of these necessary procedures. Help us help you. Complete and accurate descriptions and history of your boat assists the promotion of the boat during the auction preview and while the auctioneers describe your boat while on the auction block.
Make Your Bid Excel: Extra effort put into describing your boat will greatly help in its sale. Those include but are not limited to the following:
- Original documentation
- Information about restoration work
- What has been done to the boat
- How many owners
- Where has the boat been used
- How has the boat been used
- How many years have you owned the boat
- What is its current condition
- Has there ever been a survey done on the boat
- Have you ever taken the boat to a antique boat show
- Where has the boat spent most of life
- What was the production run of this boat
- How original is the boat.
- Any interesting stories, owners, etc.
Instructions: Arriving early, checking in and cooperating with providing us with the most information possible will ensure that your boat is ready for sale with minimum of fuss and hassle.
Reserve is a pre-determined minimum bid a seller will accept for a boat. If bidding does not reach the Reserve the auction company will not sell your boat. Often, when bidding falls short of the reserve price, dropping the reserve on the auction block will generate additional excitement and revive the bidding action. Be aware however, that once you drop the reserve, your boat will be sold to the highest bidder.
No reserve means that your boat will be sold, regardless of the bid offer. Typically, no-reserve boats generate a higher, more frenzied level of bidding because the buyers know that the boat will be sold to the highest bidder. This is attractive to sellers who genuinely want to sell, or have a boat of such quality that this bold statement illustrates confidence in their offering. Make no mistake, No-Reserve boats can, and at the auction certainly do, generate the most exciting moments at the auction.
- Check-in Early. Have plenty of time to get your boat in its proper assigned space, thus allowing as many prospective buyers as possible to view your boat.
- Detail Your Boat. Wipe your boat off regularly while on display and before the auction if possible. Not only does this enhance the appearance but gives you an opportunity to interact with prospective buyers. A fully detailed boat is significantly more attractive to interested buyers.
- Be Accessible or have someone available to provide pertinent information about your boat. No one knows your boat like you do. If you can’t be available, place a note on your boat with times you will be available to answer questions. A boat that has no one around to answer questions is not conducive to piquing the interest of a potential buyer. The boat essentially sold when the buyer sees the boat on display during the preview.
- Honesty is the Best Policy. Be accurate, if you don’t know something, say so. Don’t make representation about facts you are unsure of. Serious purchasers may actually have more interest because of your genuine candor, but statements that later prove false will compromise your integrity and place your sale at risk.
- Have Your Boat Stand Out! Take advantage of the on-site pre-sale that will give potential buyers on-site, and on-line a comprehensive visual report on the exterior, interior, function of components, and the quality of any restoration work. The frame/ bottom may also be examined to determine any existing damage or repairs.
- Prepare a Fact Sheet including your ID # and boat name. Prospective buyers can take this with them as a reminder of when your boat is selling, comparison, or research their prospective purchases (your boat). This serves as an example of your honest representation, that makes a potential buyer feel secure and improves your chances of a successful sale.
- Have Boat Documentation available for inspection by prospective buyers; registrations, purchase orders, maintenance history, magazine articles in which your boat appears, show history and authenticity of your boats provenance.
- Remain with your Boat through the preview process and as the auction draws near. Many people will see your boat at this time (who may not have seen it in the display area) and being available to answer any new, or last minute questions is critical. Remember, this is your final chance to interact “face-to-face” with buyers. A number of buyers only look at boats during the bidding process.
- Cross the Block with your Boat. We strongly suggest that you are present with your boat at the auction block. Situations manifest themselves on the block that may require your attention. After all your hard work getting your boat to this point, this is your “moment in the sun” … take full advantage of it!
- Don’t Be Afraid to Ask, this can be an intimidating exercise, but if you have a question or a problem, we can help. Remember, the auction company’s goal is to sell your boat and have you as a satisfied customer.
If you are unable to represent your boat, we suggest that you have an agent or qualified consultant to act on your behalf. With a little research, a qualified person can be obtained for this purpose, and in many instances the auction company can assist you.
Keep in mind however, that the auctioning of you boat is a team effort and regardless of size, reputation or location, the organization cannot do it all. You, the consignor must be a willing participant and are an integral part in getting your boat sold for top dollar. The auction company does not guarantee success, but as a team, we can optimize the chances for a successful sale at top dollar.
The best restored boat in the world will not do well at auction if the battery dies. The unexpected may happen and the auction company is available to assist you, but, as the consignor, you need to check all obvious items to ensure your boat is ready.
- Sold! If your boat has successfully sold on the block, congratulations! With the necessary paperwork in order and our auction office at the time of boat consignment your payment will be mailed to you within two banking days following the close of the event.
- Post-Auction Sale Area. Should your boat not reach your reserve, your boat will remain in the auction area. Signs will be provided advertising “Still for Sale”. In addition, our staff is on site during the auction to assist in selling your boat to buyers who may not have been present on the block.
Regardless of the outcome, our “hobby” was created and maintains itself on one key element. Fun! Understanding the auction process is important to enjoying the event. Being prepared, participating in the “selling” process and working together auction staff, will lay the best foundation for our mutual objective: Buying boats, enjoying the camaraderie of fellow enthusiasts and having fun. Best of luck!