>
 
FishingBoating-World.com
 
 
News Home Newsletters Photo Gallery Powerboat-World Australian Cruising World Cruising MarineBusiness-World Animated Knots
Video Gallery MarineBusiness-World
Sail-World.com : Job done with Marine Auctions (Part II)
Job done with Marine Auctions (Part II)

'Adrian Seiffert with a Riviera Sports that was auctioned recently.'    Marine Auctions

In Part I, we got to learn some home truths about selling and buying boats from Adrian Seiffert of Marine Auctions. Part II is all about the new ways Marine Auctions are going to assist you with the sale of boats, pens and other marine items.

Marine Auctions have been reviewing moving online for around 18 months before commencing. It’s a far cry from the early days when they made and physically sent out expensive brochures. They were trialling some items and ensuring the accuracy of their 40 to 50k email address database, which they know gets on-sent to possibly 220 to 250k more. How? Well one person phoned to ask where the office in California was, as he wanted to pop down. Interestingly, there are very few dedicated marine auction services around the globe today, which is why Marine Auctions works so hard to target their information to all potential buyers and why opening the equation to a global audience has been an important step for them.

‘Without all the buyers from all over the globe, many of our vessels would not have sold or achieved the sale prices they did. Historically, we have always had lots of telephone bidding and very recently, a 49’ steel sloop designed by the late Ben Lexcen would not have sold to a buyer in Spain without global reach and telephone bidding. We'll have both types of online auction as we expand the service. There will be those timed to run for just one week and also fully live and in real time, so there are no issues running them concurrently. The latter will continue to have our selection limited to no more than 40 or 50 boats.’

The first live online and simultaneous bidding auction will be held at the Rivergate International Boat Show from 5th to 7th October, 2012. Four vessels from Noble with unreserved price tags will be one of the highlights. ‘We cannot sell every boat out there, but we are somewhat unique in that we also sell berths and other marine assets. Part of me feels that in five or 10 years’ time, the whole thing may well be all conducted online and that includes pens and other assets. Berths are now about 50% of what they were, and in comparison to other countries, they’re even cheaper again. One client bought his pen at our auction and put his boat there. He flies in for a month and uses the boat. To him, one year at Hamilton Island is the same as one month in his native Hong Kong’, commented Adrian.

Adrian Seiffert with one of the brand-new Noble's Marine Auctions has on offer. -  Marine Auctions  

‘We would get 20 to 30 enquiries for all of our boats. Some are perhaps just sniffing or very much looking for a bargain, but there will easily be four or five bidders who miss out on each vessel. The terms are simple - 10% deposit and balance in seven days, and we get an unconditional offer on nearly every boat, as well.’

Technology has certainly expanded the possibilities, just as much as the potential market base, ‘We’re always looking to upgrade our software and make it more user friendly. At one point, we may have had 200 vessels from one brand alone sitting around Australia on consignment, but the manufacturers are now only building to order. More than one global manufacturer is talking with us right now, as they see us as potentially a new channel. Everyone is looking for ways to sell boats and not parking them in lots. The last new boats from Noble that we sold only recently all came from being on consignment with dealers around country and all sold above their reserve price. I do feel this will be an expanding trend, as we are selling 30 to 40 pm from 18 to 100' (private and commercial) and some brokers would not sell that in a year.’

The Internet certainly has made its impact, but it seems the humble digital camera has become the weapon of choice. When I look at a boat, I just go click, click, click, as the camera is my memory. I take three cameras with me - two digital and the phone as a backup. To a degree and in certain applications, I can now do desktop valuations. Simply send 100 pictures or more and the specifications and we can get it done. This was not possible even five years ago and it is more time efficient and cheaper, as well. One purchaser commented before buying that he did not need to be sent the boat’s specifications, as he could see them from the 150 images we’d sent through. We are opening a bigger market for our sellers here in Australia and really the world, I guess. If a prospect cannot get to a boat, then we can send them a list of a dozen or so surveyors nearby and then they can bid over the phone or online. That and all the images seem to be more than enough. It is very much an open market and you must be more proactive than ever before. Days are gone of ad in the paper and expecting people to turn up for both selling a boat and auctions themselves are over. I find a lot of brokers saying the phone is not ringing. Ours are going all the time.’

Marine Auctions are careful to take pictures of everything, so that you can really see what you're buying. -  Marine Auctions  

Now if the banks are talking with them, then the clearance rates must be something. ‘Ours are down a little from 18 months ago. I hope to get all the lots unreserved in time. This is happening a bit with earth moving at the moment and there can be $100m worth of stock in the one auction and they’re all unreserved. Currently, during a lot of our auctions, an owner will downgrade the reserve as we’re underway, so that their vessel gets sold. Everybody is a valuer now, as a result of the Internet. Historically, the difference between the advertised price and the selling price was around 20% and I feel it may be a bit more now. The market has bottomed and we will never see it at previous levels again. There are still buyers for boats and our enquiry rates are huge, with a lot of people from the mining sector, especially. From all our enquiries, we’ll move 50% on the day and within two weeks we have achieved 70% clearance, no matter whether it was two or 50 boats on offer and they are all cash buyers.’

‘I love the challenge and I love achieving. When we sell and the vendors smile, it is great. The days of dealers with a yard of boats, ads in papers and expecting people to show up are gone and hence the number of organisations that are closing their doors’, said Adrian.

It is a really tough market around the world now, yet Marine Auctions are getting results. You may wonder why you’d choose now to be pretty much at the leading edge with the online auctions and when you consider that there are a lot of physical aspects with an asset purchase of this nature. Perhaps it is how you define service, which is more than just images and phone calls. ‘I want my staff to have huge phone bills each month’, said Adrian. ‘The biggest thing with service is to contact our vendors every few days to provide feedback from the enquiries. We get up to 10,000 hits a day on our site. The word ‘auction’ may offer connotations of low prices, but it is our job to get the best price and thus create that market level.’

Adrian then went on to describe a few instances where not just the volume of enquiry was important, but also quality. Two stand out, like the widow who had not been able to move her late husband’s boat. It had been listed for 18 months at $20k over the odds and not moved. She got the new price and was so delighted that she even gave Adrian a case of wine. Seems she very much appreciated the fact that the differential was nothing in comparison to the holding costs. Another was a large vessel Marine Auctions had put $4.5m on and the bank had stipulated $4.5 as the reserve. Come the day of auction, Adrian thought they may get closer to $5m as there had been 160 real enquiries from the right people. The cheque was written immediately after the auction for the final price - $5.5m.

There are a lot of adages riddled throughout this article, but there appear to be even more that are appropriate. Adrian highlighted a few, ‘Sometimes the craft you think will sell, actually don't get a lot of action and yet others that would be classed as challenging, get a lot. Go figure. I can tell you though, that project boats are usually hard to move. I have also seen bidders get lost in the sport of the auction, because they are so competitive. Conversely, an offer at the right time still works. Finally, do not judge prospective buyers. I have seen many appear and some may wonder if they could afford a piece of rope, let alone the whole boat. Another asked if he could look over a boat. Given a positive response, he stripped down and jumped over the side to review the hull. It certainly takes all sorts...’

When you boil it right down, if you need to get the job done, then you probably need to have a word with the team at Marine Auctions. Quite possibly the only thing you have to lose is the title to your boat or pen, as you hand it on to the next owner, and that will leave you free to do whatever it is that you need. Nice work, eh?

Pair of Mercruiser sterndrives powering the Riviera Sports. -  Marine Auctions  

Helm station of the Riviera. -  Marine Auctions  

Down below in the main saloon of the Riviera. -  Marine Auctions  

Owner's Stateroom up for'ard on board the Riviera. -  Marine Auctions  

Read Part I here


by John Curnow

  

Click on the FB Like link to post this story to your FB wall

http://www.fishingboating-world.com/index.cfm?nid=102593

3:45 AM Fri 5 Oct 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
Marine Auctions On line Auctions

Related News Stories:

10 Aug 2012  Marine Auctions broaden appeal online
31 Jul 2012  Online Marine Auctions - buy and sell boats with unlimited scope




FishingBoating-World

The event has historically been conducted at the Brisbane Showgrounds, however as a result of the significant construction and redevelopment of that venue, it has presented many operational difficulties in continuing todeliver a high quality event expected by exhibitors andvisitors to an industry boating showcase. ... [more]  

PredictWind have made significant improvements to the swell forecasting models and added new locations. Integrating the new 50km global wind forecast with ocean current data has created the most advanced swell modelling available online. By combining PredictWind forecast data with ocean current data, the effect of the wind on swells can be accounted for ... [more]  

Imagine finishing the Coastal Classic and relaxing in your own waterfront home at Opua with your boat tugging gently on a deep-water mooring off the lawn. Built to an architect design in 2000, this north-facing waterfront Opua property is a short walk to the marina and boatyard. It is going to auction on November 22. View this Labour Weekend after the Coastal Classic. ... [more]  

MMC has presented PaddleNSW with 50 new generation lifejackets so its coaches and instructors can help role model behaviour to further encourage everyone on the water to wear lifejackets. 'The lifejackets will be used to kit out PaddleNSW’s network of training staff and volunteers in key locations across NSW,' said MMC General Manager Howard Glenn. ... [more]  

The Australian marine industry is singing the praises of the fourth annual Gold Coast International Marine Expo, reporting strong sales and even greater prospects in the lead-up to summer. 'Based on exhibitor feedback, the total sales at the Expo alone would certainly be in the order of tens of millions of dollars,' she said. ... [more]  

A panel of experts will offer critical suggestions on how post-Gulf of Mexico oil catastrophe research funds should be spent. The panel is just one of the key marine presentations at the Guy Harvey Fisheries Symposium at the University of South Florida St. Petersburg Campus. ... [more]  

Coastguard Boating Education has produced a short, snappy two minute motion-graphic as a great reminder of all the key boating safety tips. ... [more]  

2014 Gold Coast International Marine Expo - Marine Syndication, a division of Marine Auctions, was in full swing at the Gold Coast International Marine Expo that took place at the Gold Coast Marine Precinct in Coomera. ... [more]  

Watchstanders at Coast Guard Sector Hampton Roads received a report from a concerned friend at 10:30 p.m., Friday stating the two men had departed on a planned 20-minute trip, but had been gone for approximately two hours. The reporting source also stated that the men did not have radios or cell phones aboard. ... [more]  

2014 Gold Coast International Marine Expo - The awe-inspiring aerial antics of the Extreme High Diving show at this weekend’s 2014 Gold Coast International Marine Expo have a whole new flavour, with McDonald’s signing up as an event partner. ... [more]  

A shark’s habitat can reduce its sensitivity to rising CO2 levels, according to Australian scientists. Globally, ocean acidification – linked to emissions of greenhouse gases – remains a major concern and scientists say it will harm many marine species over the next century. ... [more]  

Boyan Slat is a 20-year-old on a mission - to rid the planet's oceans of floating plastic. He has dedicated his teenage years to finding a way of collecting it. But can the system really work - and is there any point when so much new plastic waste is still flowing into the sea every day? ... [more]  

Discover Boating Week starts tomorrow by Boating Industry Association
Discover Boating Week is a celebration of the recreational boating lifestyle and the joys and fun that come with spending quality time on the water. Whether you're a fisherman, paddler or sailor, there is something for everyone. Over 40 events will be taking place across the state from October 18 - 25 and the best part is, they all absolutely free! ... [more]  

Great start to another massive Gold Coast International Marine Expo by Emma Milne/Gold Coast International Marine Expo
The Gold Coast International Marine Expo – open all weekend – is a marquee event for the marine industry and has delivered on its promise of 'all things aquatic – from super yachts and jet skis to kayaks and fishing equipment … and everything in between'. ... [more]  

Boaters are reminded to keep clear of a section of Sydney Harbour on Sunday 26 October for the safe staging of The Australian Boat Race. ... [more]  

The Queensland Boating and Fisheries Patrol’s Marine Animal Release Team has successfully freed a juvenile whale from shark nets off Rainbow beach on the Sunshine Coast this afternoon. Queensland Shark Control Program Manager Jeff Krause, from the Queensland Boating and Fisheries Patrol, said the five metre whale was badly entangled in the net. ... [more]  

2014 Gold Coast International Marine Expo - With less than 24 hours until the start of the three-day 2014 Gold Coast International Marine Expo, the event site is a hive of activity as exhibitors prepare and polish their displays to help you make this summer one to remember. ... [more]  

Boats recovery after Sydney storm by Roads and Maritime Services
Roads and Maritime Services Maritime Director Angus Mitchell said Roads and Maritime Services boating safety officers (BSO) had been busy since sunrise in Port Hacking helping with the recovery of more than 10 boats which broke their moorings overnight during stormy conditions. ... [more]  

MMC have donated 300 new generation lifejackets to Rowing NSW so their coaches and instructors can act as ambassadors by wearing them and role modelling behaviour to further encourage everyone on the water to wear lifejackets. ... [more]  

Most boaters start the new boating season safely by Roads and Maritime Services
The results are in from the first boating campaign of the new season with a reminder for boaters to keep an eye on their speed and ensure they are aware of NSW lifejacket laws. ... [more]  

Is the Quagga mussel in your cruising waters?The Quagga mussel has been discovered for the first time in the UK. The discovery was made by Environment Agency teams carrying out routine water quality testing on River Wraysbury. It has subsequently been found in the nearby Wraysbury reservoir too. ... [more]  

To celebrate the start of the recreational boating season, Discover Boating Week will run from October 18 to 26. The public are invited to learn more about recreational boating through dozens of activities that have been organised by industry members and associated boating groups. ... [more]  

Boaters are reminded to keep clear of a section of Lake Mulwala this weekend for the safe staging of the Yarrawonga Mulwala Multisport Festival. ... [more]  

The 605 Sportsfish gives you such a good fishing experience you might not notice how safe it is! A hinged gate provides sea-height access to the transom. Starboard and port walk rounds provide fast accessibility to all areas of the boat. And a bow windlass option makes it easier than ever to drop anchor. ... [more]  

Nature’s Own founder Vaughan Bullivant had previously hoped to get around $65 million for the Daydream Island resort he paid $25 million for in 2000. But with his health deteriorating and the island failing to sell in two years, agents have convinced Mr Bullivant to lower his expectations — and the price — to about $30 million. ... [more]  

Update: Stunning finds from ancient Greek Shipwreck by Woods Hole Oceanographic Institution
The rescued antiquities include tableware, ship components, and a giant bronze spear that would have belonged to a life-sized warrior statue. The Antikythera wreck was first discovered in 1900 by sponge divers who were blown off course by a storm. ... [more]  

Recreational fishing in the Campaspe River is set to improve thanks to a $155,000 investment from the Victorian Coalition Government to improve fish habitat. Minister for Water Peter Walsh today officially opened the new ‘rock fishway’ at Echuca Weir, which has been funded through the Coalition Government’s $3.73 million Caring for the Campaspe initiative. ... [more]  

The Australian National Maritime Museum is delighted to announce that whale expert Geoffrey Ross from New South Wales National Parks and Wildlife Service will be joining the HMB Endeavour crew as a special guest when it embarks on a special whale-themed voyage from Sydney to Eden 27 - 31 October. ... [more]  

Boaties are in for a real treat – a multitude of esteemed boat-builders have reserved the 2014 Gold Coast International Marine Expo to unveil their latest new models to the public. The vast range of new and innovative vessels covers the entire spectrum of on-water enjoyment, from luxurious sports yachts and specialist fishing vessels to family recreation boats and inflatable dinghies. ... [more]  

Superior will be attending this year’s METS trade show in Amsterdam, 18 to 20 November, and entering the company’s new Waterscape product in the prestigious DAME Awards. ... [more]  

Roads and Maritime Services seeks proposals to establish a panel of prequalified vessel suppliers that can be accessed by NSW Government Marine Compliance Task Force members – RMS Maritime Division, NSW Police Marine Area Command and Department of Primary Industries (Fisheries). ... [more]  

Keep Australia Fishing - Sydney Marine Park comments by Rob Kothe & the MarineBusiness-world team
Keep Australia Fishing is extremely concerned that the NSW Labor Party has sided with anti-fishing activists in proposing the establishment of a marine park in the Sydney area. If this eventuates, the marine park as proposed will severely limit recreational fishing opportunities in and around Australia's largest city. ... [more]  

For the first time, scientists have used an unmanned aerial vehicle to study killer whales from above. The device they're using is a remote-controlled hexacopter with a high-resolution camera mounted in its belly, and the photos it produces are beautiful and full of detail. The images offer an entirely new view of this species. ... [more]  

New equipment boosts NSW marine pollution response
A collaborative effort to understand and monitor marine biodiversity
Mapping the Antikythera Shipwreck
GC International Marine Expo: Sirroco RIB + engine up for grabs
BIA responds to Sydney Marine Park proposal
NSW Wear a lifejacket campaign - Collaboration the key to success
TV awareness campaign calls on boaties to be safe on the water
Anglers urged 'release or return' if catch is carrying research tags
Lifejackets do save lives - Wear yours on board this long weekend
Mercury Marine produces 75,000th Verado L6 outboard engine
Sydney Harbour Marine Park would attract Industry compensation claims
Get set for the Sportjet
2014 Auckland on the Water Boatshow hailed a huge success
Dredging of Swansea Channel gets underway
Have trailer, will travel *Feature
Auckland On The Water Boat Show: Images from the final day
Marine Wind Farms - coming to your cruising waters, what to do?
Kite Foil Gold Cup Australia 2014 – Day two video
Auckland On the Water Boat Show: World record mark set on Lancer SUP
Marine Rescue Forster Tuncurry recognised with Water Safety Week Award
Marine Rescue NSW wins 2014 NSW Water Safety Awards   
New maps of the polar regions reveal unseen world beneath the ice   
Marine Rescue Point Danger assists disabled yacht to safety   
A win for sharks   
SOS Marine and Mobilarm launch sMRT Inflatable SOS Dan Buoy   
RBT only applies when vessel is underway   
Recreational Fishing Trust Update   
BIA and MIMRA at RMS Boating Safety Day!   
Predictwind and Iridium offer Sat Phone comms at Mobile Phone pricing   
Gold Coast Marine Expo: Riviera 6000 Sport Yacht’s Queensland premiere   
Bass Strait 40 - Sensational Cheese, Superb Wine and Stunning Boats   
SA marinas and yacht clubs to open their gates on SA Marina Day   
BRIG Navigator 700 – big boat for your buck *Feature   
Bright future for Port Phillip snapper stocks   
Spring time auction a success for Marine Auctions   
Marine Auctions gets on the social media boat   
Marine15: Submit your 'Best Profit Idea' and win! *Feature   
Iconic dealership celebrates 50 years *Feature   
Fraser Island closed waters re-open   
Divers home in on thorny threat   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW FBW
LocalAds   DE  ES  FR  IT