Bidders

About Boat Auctions

  • For each Boat Auction, only registered Bidders will be able to take part
  • Registration can be made by visiting the specific auction listing
  • All Lots are subject to a Buyers Premium of 10%
  • A £5,000 non-refundable deposit is payable on each lot (to be paid on hammer close)
  • All purchasers are deemed to have satisfied themselves by inspection or otherwise as to the description and state of the vessel.
SURVEY AND SEA TRIAL

All purchasers have the right to organise a pre-purchase survey and sea trial at their own cost, and subject to availability of the vessel. For vessels under £500k, no Survey or Sea Trial will be available following the Auction and the vessel will be deemed to have been purchased “as is, where is”.

COMPLETION PROCESS

There will be two types of completion process dependent on the value of the vessel, and as indicated in the Vessel details. The two types will be:

STANDARD SALE

Following the close of the Auction, a standard marine sales agreement plus an invoice for 10% of the final sales price will be sent to the successful bidder, for payment to confirm the sale, payable within 2 working days. Once the signed contract and payment have have been received, the sale is deemed to have become unconditional, and the Auction House Broker will contact the buyer to confirm the final completion actions and timescale

MYBA MoA

Following the close of the Auction, the sale and completion process will be governed by a separate MYBA Memorandum of Agreement (or equivalent contract), entered into by the Seller and the Buyer, and both parties will work to, and will be bound by, the terms contained therein (with the exception of any Survey or Sea Trial conditions). A copy of the contract terms and conditions is available to view on request.