Boat Repos Are Booming

One of my favorite sites is — its a giant relational database, where you can punch in any combination of characteristics and find the exact boat you want.

Want a Formula, years 2002-06, between 32-36 feet, on the East Coast, between $100-200k? There are 16 boats that meet those exact characteristics.

Given the recession and the credit situation, this summer, I have been perusing boat Repos — Bank financed machines that have been defaulted and are now the floating equivalent of REOs.

On, there are some 436 repos available in all sizes and shapes — 127 New, 309 used. Event he used boats tend to be newer (older boats don’t need much in the way of financing). 10 of these repo boats are more than $500k, including one repo that is $7.7 million dollars.

Something more modest, perhaps?  How about:

Length: 22′-29′
Year: 2002-2006
Price: USD $0-50,000

That gets you 29 choices.

As I have noted many times in the past, I am a big believe in being a counter-cyclical spender. I try not to buy stuff when the economy is on fire and everything is overpriced. I don’t believe in using excess credit (Like these folks that ended up having their boats repo-ed)

This year, I have been selectively shopping for , and occasionally buying, whatever I thought was priced right — especially distressed  merchandise.

27′ Crownline 275 BANK REPO
27 crownline

26′ Monterey 265 REPO

26 monterey

28′ Rinker Captive 276 BR **BRAND NEW REPO**

28 Rinker Cpativa

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