Address
11,Cove Drive,
One 15 Marina Club,
Singapore 098497
Phone
+65 9155 4060
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Selling boats by online boat auction allow the seller to find out the real value of the vessel. This is done by exposing the vessel to a wider marketplace via press releases, journal advertising, direct mail, email, social media and editorials.
Here are the top 10 Advantages of Online Boat Auctions
1. The online boat auction process is a positive and effective method of realising the highest price the market can pay for any particular vessel at a given time.
2. The owner of the boat displays to the public that he or she has a genuine intention to sell. And not just testing the market.
3. Extensive advertising is required whether a sale is by private treaty, tender or by online auction. Advertising should lead to a conclusive point – the online auction day. Interested parties must register and stay online to have the opportunity of purchasing.
4. The seller and the auctioneer are in a dominant and controlling position. The seller sets the terms on which they wish to sell at an online boat auction. This avoids the situation of purchasers making offers subject to undesirable conditions.
5. Prospective purchasers have their finances in place. An auction contract is a cash contract with a non-refundable deposit paid. This eliminates potential buyers making unrealistic offers subject to finance or other onerous conditions.
6. The seller is not required to decide on a reserve price until the day of the auction. The seller can wait until the final bid has been received.
7. The boat is sold “as is” and in its current condition.
8. A major feature of online auctions is that price is not advertised. The onus is placed on the bidders to outbid the other parties, forcing up the price.
9. Only through the online auction process can the competition between purchasers be fully capitalised upon.
10. On the day of the online auction, the successful purchaser is required to pay a deposit and execute an unconditional contract of sale.
If you are keen to find out how to sell your boat faster, why not try online boat auctions, it’s the way forward. Give us a call we’d be delighted to help.
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