Anyone can view the current bids as long as they are signed up and logged in to the site. To see prices and current bids, sign up for free today!
Not quite — members must first Register to Bid and provide a deposit/escrow. See the auction listing for specific details pertaining to each particular vessel.
Once you sign up and log on, you are able to Register to Bid on each individual auction listing page. Registering to Bid requires a deposit to be made by each prospective buyer. Details can be found within each auction listing. Should you have questions regarding registration or how to place a bid, don’t hesitate to contact us.
The seller must provide hull and engine surveys performed by well-known, respected surveyors. The survey is provided as an independent assessment of the vessel for prospective buyers and will be posted in each auction listing in the “Vessel Detail” box. Since all sales are final and unconditional, surveys give prospective buyers a reasonable understanding of the vessel condition prior to performing their own due diligence within the auction preview period. Learn more.
The broker’s responsibilities remain unchanged. Brokers address questions, perform showings, attend sea trials, and manage the closing and financial transactions. It is important to note that all prospective buyer due diligence is conducted during the preview period. After the auction is complete, sales are final and unconditional. Learn more.
Listing Brokers and Selling Brokers are compensated via commission terms outlined in the listing agreement. We do not conduct auctions without a Listing Broker and commissions offered to the broker representing the buyer. The results are simply better through collaboration with yacht brokerage professionals.
Yes, vessels at auction are available for pre-auction sale. If a prospective buyer makes an acceptable offer, the vessel will be removed from the platform prior to the start of the auction.
Yes, all sales are final and unconditional. Unlike a traditional yacht sale where due diligence is performed after the initial agreement and price negotiations, all due diligence is performed prior to bidding. A seller’s survey report is provided with each listing to add transparency and aid prospective buyers in determining interest. Bidders are welcome to utilize a surveyor of their own to conduct a traditional survey, validate existing information, or provide further inspection.
A Counterbid is a bid placed by the auctioneer to move bidding closer to the Reserve. Counterbidding is a common practice throughout the auction industry to help buyer and seller reach a price that works for both parties. In a Reserve Auction, the auctioneer may place counterbids up to, but not to exceed, the Reserve price.
A “soft gavel” is an automatic time addition to the auction clock when a bid is placed in the final two minutes of an auction. Soft gaveling allows time for all bidders to consider and place their next bid.
If there’s a reserve price, the reserve is clearly stated in each auction listing. Bidding, however, will open slightly below the reserve price. If the reserve is met or exceeded, the vessel will be sold to the highest bidder. Should bidding finish below the reserve price, the seller holds the right to accept or reject the high bid for 24 hours following completion of the auction.
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