Has anyone seen the auction that weathermark sailing in Atlanta is running. Is that a bargain price or should I have a survey done?
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Peggie Hall/Head Mistress
John, have a surveyor look it over at least
One of the best in the country is on Lanier--Bolling Douglas. Lives in Flowery Branch. She may know the boat...at least she can find out all the skinny on it and what it should really be worth--she knows everybody. E-mail me (I'm the directory) and I'll give you her phone number. Remember, it's an auction, so $50k is only the minimum first bid, not necessarily what they're selling it for.
One of the best in the country is on Lanier--Bolling Douglas. Lives in Flowery Branch. She may know the boat...at least she can find out all the skinny on it and what it should really be worth--she knows everybody. E-mail me (I'm the directory) and I'll give you her phone number. Remember, it's an auction, so $50k is only the minimum first bid, not necessarily what they're selling it for.
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Pete
auction boats
John somehow I don't think this is a real auction like you are thinking. Looks more like a new sales tatic. However if your interested make any bid contingent on a survey,if the dealer refuses to accept your bid walk away !
John somehow I don't think this is a real auction like you are thinking. Looks more like a new sales tatic. However if your interested make any bid contingent on a survey,if the dealer refuses to accept your bid walk away !
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Peggie Hall/Head Mistress
I'm pretty sure it's ligit
I know the dealership and its owners--past and present--from more than 20 years on Lanier.
I know the dealership and its owners--past and present--from more than 20 years on Lanier.
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Pete
If it is legit
the dealer will not object to a bid with the winning bid subjest to survey! Don't know the dealer and don't mean to bad mouth there reputation but this is not a normal sale from a dealer.May just be how they to get rid of overstock boats. Still make any bid subject to survey!
the dealer will not object to a bid with the winning bid subjest to survey! Don't know the dealer and don't mean to bad mouth there reputation but this is not a normal sale from a dealer.May just be how they to get rid of overstock boats. Still make any bid subject to survey!
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Peggie Hall/Head Mistress
In the case of an absolute auction...
it's up to bidders to know what they're bidding on BEFORE they place a bid. No matter what the item--whether it's boat or a Ming vase--you won't find ANY auctioneer, not even Sotheby's or Christie's, who'll accept a bid that's contingent on appraisal after the sale. If a bidder feels he needs a survey, he has to have it done before he places a bid. Only if an item, say a supposed genuine Picasso, turns out not to be does a buyer have any recourse after he's bought it auction. As long as it's as represented--a genuine Picasso--if he had to bid $2 mil. to get it and it turns out to be worth only $1.5, that's the breaks...he should have had it appraised before he bid on it. Boats are no different. At least in this case, it's local to John, so he can inspect it himself or with a surveyor.
it's up to bidders to know what they're bidding on BEFORE they place a bid. No matter what the item--whether it's boat or a Ming vase--you won't find ANY auctioneer, not even Sotheby's or Christie's, who'll accept a bid that's contingent on appraisal after the sale. If a bidder feels he needs a survey, he has to have it done before he places a bid. Only if an item, say a supposed genuine Picasso, turns out not to be does a buyer have any recourse after he's bought it auction. As long as it's as represented--a genuine Picasso--if he had to bid $2 mil. to get it and it turns out to be worth only $1.5, that's the breaks...he should have had it appraised before he bid on it. Boats are no different. At least in this case, it's local to John, so he can inspect it himself or with a surveyor.
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Harry A.
Beg to differ
There are some auctions that will let you finalize the deal with the highest bidder AFTER receiving and inspection of the item. Auctionarms, an internet auction site that deals in firearms and related items has a 3 day inspection/accept-reject policy for all firearms. I have heard of other places with similar policies, aircraft for one (I'm also a pilot) where bids on large ticket items may be made with the item sight unseen and where distance or time and cost of inspection makes it impractical before the close of the auction/sale. Of course,in most cases there are very specific and narrowly defined acceptable reasons for refusing to conclude the deal in which you where the highest bidder. Also,there usually are monetary costs involved in refusing to conclude the deal. Just my two cents worth.
There are some auctions that will let you finalize the deal with the highest bidder AFTER receiving and inspection of the item. Auctionarms, an internet auction site that deals in firearms and related items has a 3 day inspection/accept-reject policy for all firearms. I have heard of other places with similar policies, aircraft for one (I'm also a pilot) where bids on large ticket items may be made with the item sight unseen and where distance or time and cost of inspection makes it impractical before the close of the auction/sale. Of course,in most cases there are very specific and narrowly defined acceptable reasons for refusing to conclude the deal in which you where the highest bidder. Also,there usually are monetary costs involved in refusing to conclude the deal. Just my two cents worth.
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Peggie Hall/Head Mistress
Online auctions
Are a different story, Harry. The items usually aren't on display ahead of time. But even then, the seller will only take it back if it's not as represented....not if it just turns out not to be worth what you paid for it. Next time you get a flyer advertising a government auction of seized goods, or one for a bankrupt boat dealer--or any auction where the goods are on display--read the fine print. I'm surprised that this one gives the buyer till Feb to take delivery. Most require that any financing be secured before bidding and full payment by certified funds within 10-15 days, plus removal from their property by then or pay storage fees. And while we're on the subject of online auctions...there's a boat on eBay (or was)--a big catamaran in charter--that turned out not to belong to the seller. The boat exists, but when a potential bidder checked with the charter company, they found out it wasn't for sale. The charter company made sure they were the high bidder so no one could get burned...last I heard a few days ago, they'd begun legal action against the seller.
Are a different story, Harry. The items usually aren't on display ahead of time. But even then, the seller will only take it back if it's not as represented....not if it just turns out not to be worth what you paid for it. Next time you get a flyer advertising a government auction of seized goods, or one for a bankrupt boat dealer--or any auction where the goods are on display--read the fine print. I'm surprised that this one gives the buyer till Feb to take delivery. Most require that any financing be secured before bidding and full payment by certified funds within 10-15 days, plus removal from their property by then or pay storage fees. And while we're on the subject of online auctions...there's a boat on eBay (or was)--a big catamaran in charter--that turned out not to belong to the seller. The boat exists, but when a potential bidder checked with the charter company, they found out it wasn't for sale. The charter company made sure they were the high bidder so no one could get burned...last I heard a few days ago, they'd begun legal action against the seller.
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David
Auction survey
Harry, I agree with you. I have seen boats for sale at on line auctions where the final bid is subject to a survey.
Harry, I agree with you. I have seen boats for sale at on line auctions where the final bid is subject to a survey.
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Pete
aucton boats
John maybe the answer here is to ask the dealer if he will accept a bid with a survey after the auction has ended. The auction link you put in your origial post did not mention that it is a absolute auction so it would seem to me the dealer is makeing his own rules up. You need to know what they are. Talk to him,get the straight story.Different auctions do it different ways.I would also find out if the hull warrenty transfer with the sale.The bottem line here is I don't think this boat is going to sell for 50k but a lot close to the "retail" price the dealer mentioned on the web site. Check the buc value and the nada value along with going some local equivlants and get a true feel for what the boat is worth.Ask the dealer if there is a "reserve" or minimum selling price.One last piece of advise (good on any purchase) is BUYER BEWARE Know what you are bidding/purchasing. Good Luck!!
John maybe the answer here is to ask the dealer if he will accept a bid with a survey after the auction has ended. The auction link you put in your origial post did not mention that it is a absolute auction so it would seem to me the dealer is makeing his own rules up. You need to know what they are. Talk to him,get the straight story.Different auctions do it different ways.I would also find out if the hull warrenty transfer with the sale.The bottem line here is I don't think this boat is going to sell for 50k but a lot close to the "retail" price the dealer mentioned on the web site. Check the buc value and the nada value along with going some local equivlants and get a true feel for what the boat is worth.Ask the dealer if there is a "reserve" or minimum selling price.One last piece of advise (good on any purchase) is BUYER BEWARE Know what you are bidding/purchasing. Good Luck!!
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Dan Sheehan AMS
Get it all in writing
No one has mentioned that whatever the auction rules are you should be sure to get them in writing before bidding. Wether at an auction or not the buyer has the ultimate responsibliity to insure that he or she knows what he or she is buying. First look yourself, if you are then reasonably sure you want to buy, survey it. The money spent for the survey is cheap compared to what you might find out later if you do not. Dan Sheehan AMS
No one has mentioned that whatever the auction rules are you should be sure to get them in writing before bidding. Wether at an auction or not the buyer has the ultimate responsibliity to insure that he or she knows what he or she is buying. First look yourself, if you are then reasonably sure you want to buy, survey it. The money spent for the survey is cheap compared to what you might find out later if you do not. Dan Sheehan AMS
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