repo auction (its over)

[one more cast]

Our local auction house is having a repo auction on nov.15 and one of the items is a 1999 CREST II 25 FT. PONTOON BOAT,,,50 HP MERCURY MOTOR AND HOOSIER DUAL AXEL DRIVE ON TRAILER. I went to nadaguides.com and got a combined value (with no options) of around $6000 low retail to $9000 high retail. These prices seemed kind of high to me so my question is do these prices seem about right? I haven't looked at the boat yet so I don't know what kind of shape its in and it will most likely be sold without being able to hear it run. IMO not hearing it run is the same as bidding on a non-running motor.Any thoughts about this? I was thinking more like $1500-$1800.

 

[mellowyellow]

Re: repo auction (its over)

$15-1800 would be a downright steal OMC!<br />I would guess btw $3-4K, but u never know.<br />if it's trashed, then maybe below $2K.<br />good luck,<br />M.Y.

 

[one more cast]

Re: repo auction (its over)

Sometimes things go really cheap but sometimes not. We bought a late '50 Harden solid cherry (even the backs of the dressers are solid cherry) bedroom set ( about $7000 dollars worth) for $900 a year and a half ago. I'm hoping with winter coming that people will pass it by.

 

[mellowyellow]

Re: repo auction (its over)

hey, bid cheap... u never know.<br />could prob. flip the motor alone and make a<br />profit and have a free toon for me to come fish <br />on

 

[Solittle]

Re: repo auction (its over)

I bought a 19' repo'd boat years ago and assumed the motor was trash. Got it home, squirted some premix in the carb and hot wired it as it had no key. It fired right up and I ran it for 8 years. You may OR MAY NOT get lucky.<br /><br />Beware of auctions and don't let your emotions run wild. I went to one and was prepared to bid on a 23'er. Before I could raise my hand two guys got into a bidding war and the winner paid thousands above what he would have paid retail.

 

[BillP]

Re: repo auction (its over)

That is a steal at $1500-$1800 with or without motor.

 

[John_S]

Re: repo auction (its over)

Always leary of repos and auctions. Repos: if they couldn't keep up with the payments, probably weren't keeping up with the maint. On this type of boat, a close inspection should reveal how well the owner has taken care of it. As you stated, the engine is the big unknown. Unlikely they will let you start it, but just being able to turn it over, maybe with emergency rope pull, will at least give yon confidence the engine isn't seized. Check the drive for any impacts, and corrosion damage. If everything looks good, then you "probably" only need a good tune-up including carb cleaning and impeller change. In excellent shape, I still wouldn't bid much over 4K, because of the unknown.<br /><br />If inspection is allowed prior to the day of the auction, take advantage of it. Might find out who the original selling dealer was. There are usually some decals somewhere on the boat, maybe even the keychain. Try contacting the dealer, and they might provide some additional info on repairs or the prior owners. <br /><br />Good luck on bidding, and you are correct, because of this time of year, you might get a good buy. A little snow on the ground, by the 15th might help your cause. <br /><br />PS: Outside of the repo/auction/condition thing, I'd try to get more info on powering this size 'toon with a 50hp. Seems like that would be a little underpowered, but I'm not 'tooner. They all go too slow for me ;-)

 

[jollymon]

Re: repo auction (its over)

One More Cast,<br /><br />I am not sure where you came up with your numbers, but here is what I come up with.<br />Boat no options, no motor, no trailer $4900-6000<br />Motor $1600-1900<br />Trailer $2000-2300<br /><br />Now I did round down the numbers but I get a retail of $8600-10200.<br /><br />I still agree with Mellowyellow assesment, in good condition under $2000 would be a steal.<br /><br />I think under $4000 would be real good, I would not go over $5000 in any condition. The boat is a good boat, but very under powered. Where would you be using it. On a lake with no current would not be to bad. I have the 25' Crest III (8.5 beam) it is powered with a 90hp merc, and I should have done thE 115(max hp).If you can look at it before the action, e-mail me or post any questions, and I will try to answer.<br /><br />Good Luck.

 

[one more cast]

Re: repo auction (its over)

jollymon, you are correct on your figures, when I made the post I couldn't find the paper where I jotted down the prices so I guessed at what I thought they were. Any way, It does seem a bit under powered. I am headed over that way in a little while so I will see if the boat is at the auction house yet.

 

[one more cast]

Re: repo auction (its over)

Heres the scoop, This is one nice toon. No dents or scrapes, the motor is clean and the prop looks like new. The seats have a little mildew on them and the carpet is dirty but thats it. Looks like it will go higher than I can afford. I will just have to wait and see. EDIT: the trailer was last registered in 2001 and there is a birds nest on top of the battery box.

 

[Boomyal]

Re: repo auction (its over)

Originally posted by One More Cast:<br /> Heres the scoop, This is one nice toon. No dents or scrapes, the motor is clean and the prop looks like new. The seats have a little mildew on them and the carpet is dirty but thats it. Looks like it will go higher than I can afford. I will just have to wait and see.

When and where did you say that auction was taking place, OMC?

 

[Stumpknocker]

Re: repo auction (its over)

One More Cast, you mentioned Hardin furniture. You are correct about that brand being very high quality. I used to work retail furniture in a very high end store. Hardin is extremely well respected solid cherry furniture. Some of the very best. You got quite the deal.

 

[waterone1@aol.com]

Re: repo auction (its over)

My two cents worth... When you go to an auction, you have to approach it as a big "unknown". If you responded to an ad for that type of boat, and the owner said " I don't know anything about it, no, you cannot take it out for a sea trial (test spin), No, you cannot have a survey done, no, you cannot hear the engines run....what would you do??<br />You would most likely run away from it....right??<br />Every day I see people bidding on boats that are paying next to retail for something that is totally questionable. You might get lucky.....or you might get screw**. An auction price for a boat should be 50 - 80 % off of retail, unless you have an out, such as "subject to sea trial" or subject to inspection. Don't be a sucker.

 

[one more cast]

Re: repo auction (its over)

Gil009 , We had no idea what the bedroom was worth when we bought it. We just knew what it would cost to buy a cheap set at the stores and this looked like a lot better deal.When we were loading it someone said be careful with that,don't you know you have there.They said we just bought about $7000 worth of stuff for $900.The Harden factory is only about 50 mins.from us so we rode down to see if this stuff was really that expensive.The new stuff has plywood backs and draws and starts at $13000 for a bottom of the line set.<br /> waterone1 , I'm just a poo boy so if it doesn't go real cheap, I won't own it.

 

[neumanns]

Re: repo auction (its over)

OMC, The trailer alone is worth a bid of $1800. But if it is sealed bid go ahead and give it a shot. If it is a live auction and ya have the time go and watch it. My guess is it will bring around 5-6k and be a decent deal at that if it is clean. If there is a good showing someone should be able to buy it for that with the intention of reselling it at a profit. Please note my sig if someone offered me that kind of money for mine they had better do it with a sense of humor cause I'm gonna laufgh at them. As for underpowered, yea but livable. with a 50 it should do 9-11mph and a 125 would get it up to 16-18 with three to four souls on board. Engne size would not turn me away if ya can get the price right. Good luck!!!<br />My guess is that anyone who offers under 5k will be a spectator. Butya cannot win if ya don't play the game...ya never no.

 

[one more cast]

Re: repo auction (its over)

neumanns, I started this post with the assumption that this boat was going to be trashed. As soon as I seen it I knew it would go for a good dollar. I will be going to the auction just to see what it sells for. My guess is a little over $5000 also.

 

[BillP]

Re: repo auction (its over)

Bid on it anyway. I bid $9025 on a $24000 book value sailboat once and won the bid...spent one week cleaning it up and then sold it for $23000. You never know what is going to happen. Like already said, you can't win if you don't play.

 

[neumanns]

Re: repo auction (its over)

Monday is the day, let us know what she brought and anything else ya drag home.

 

[one more cast]

Re: repo auction (its over)

Yup neumanns, tomorrow night is the night. I will have my fingers crossed and my check book ready.

 

[one more cast]

Re: repo auction (its over)

OK guys , I just got back from the auction and the bidders just went nuts, It started at $500 and went up so fast I never even got a bid in. Sold for, get this.....$8500