June 27, 2008, Newsletter Issue #144: Boat Auctions

Tip of the Week

Other than salvage auctions, boats are auctioned both through private boat auction houses and through the US government. Boats sold through professional auction houses are usually put up for sale by private companies or owners. While these boats don't come from salvage, it is still wise to have them professionally evaluated before you begin bidding. A professional surveyor can give you a reasonable estimate of the boat's true value. The United States Department of the Treasury also conducts boat auctions. These sales offer boats that have been seized for law informant reasons, and are usually sold "as is" at or below fair market value. Once again, even though the boats are being sold by the federal government, it is wise to have the boat professionally surveyed before you begin bidding.

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