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The year 2009, has been one of THE best years for buying water toys at state or local repo auctions. As a frequent boat auction junkie myself it’s typically accepted that a vessel sold at auction will offer a 15-20% discount relative to retail.

That’s not bad, especially when you figure larger vessels retailing over $100K..the savings can be really be significantNow fast forward to now where boat auctions has only served to up that percentage to well over 20%.

Boats auction in the U.S. — especially in the harder hit (California, New York, Florida, and Arizona) are seeing financial institutions like banks and credit unions more aggressive in their re-marketing strategies of non-performing assets. SunTrust Banks Senior VP, Don Parkhurst says with regards to their repossessed boat inventory, “You’ve just got to lower the price to where you can move it. You’ve just got to take the hit.”

The rise in auctioned boats across the states with most every lender has attracted new boat buyers who can now literally buy a late model vessel for significantly less than what a new boat buyer would have paid 3-4 years ago for the same make and model. Boat auction sources like National liquidators and Boat Auctions Direct have indicated that with the decline of the U.S. dollar coupled with the rise of boat repos shrewd international investors particularly from Australia, UK, and Canada taking advantage of this high tide.

So how can you save on a boat this year as well? The key is consistently reviewing auction listings. Frequenting auctions, online listings, classifieds, and dealer liquidations. Only by comparing asking prices and recent sales of similar models of the type of boat you’re interested in can you brag about savings of 50% or more. It’s really not rocket science.