Repo Sales Auctions Across the U.S. and Where to Find Them...
Repo sales auctions will be catching boat buyers attention in 2011 as they stand to save a minimum of 50% off book value. The same boat their neighbor bragged at only having paid $20,000 can now be bought anywhere south of $9,000-10,000...often for much less.
The current economy has prompted smaller banks and major lenders to re-think their repo collateral marketing strategies. Along with home foreclosures boat repossessions have surged to new levels forcing lenders to 'take a hit' whereby they simply let go of the repossession for as little as 50% of the loan balance...
When the economy worsens, boats are among the first things that consumers surrender as they struggle with home mortgage payments and less available home-equity financing. According to National Liquidators, one of the largest boat auction companies in the U.S. boat auction sales have doubled from the year previous.
A recent auction sales sheet provided by
shows some of the recent
auction stats across the U.S. in 2008.
Auction Sales Figures Across U.S.
Update: Check out the latest repo boats sales stats.