Canada's Marine Auction - New and Used Boats for Sale

BUYER QUESTIONS

What are the fees for the buyer on Boat Bids?

Buyers are required to pay a 4.0% buyer fee on top of the final purchase price. The buyer fee is charged to the credit card on file upon a winning auction. The purchase price is to be paid directly to the seller of the boat.

How do I register to bid?

Sign Up:

Click the “Register” icon in the upper right corner of the screen
Create a username, password and input your information

Email Verification:

After creating an account, you’ll be promoted to verify your email address

Return to Boat Bids

Once your email is verified, you can return to the boat bids platform

Browsing without Registration (Optional)

If you’re not ready to register immediately, you can still browse listings.
When you find a boat you want to bid on, click “Quick Bid” on the listing page. At this point you will be prompted to register before placing a bid.

Credit Card Information:

During registration or when trying to bid, you will need to enter your credit card information. This credit card will be used to pay the 4% buyer fee upon winning an auction.

How do I place a bid?

Register:

To place a bid, users need to register, as explained in the earlier instructions

Find a Boat:

Once registered, users can browse listings and find a boat they are interested in buying

Bidding:

Click the “Quick Bid” icon on the main browse page or detailed listing page. Your bid will automatically be entered at the minimum increase over the previous bid.
Alternatively, users can input their maximum bid in the numeric field and click “Submit Max Bid”. The system will then automatically increase your bid by the minimum amount until the maximum bid has been met.

Monitor the auction:

Users are advised to keep an eye on the auction in case they want to increase their maximum bid amount.

How do bid increments work?

Bid increments increase as follows:

$100 increments up to $9,999
$250 increments from $10,000 to $49,999
$500 increments at or above $50,000

What currency does Boat Bids use?
All bids on Boat Bids are in Canadian Dollars (CAD), including on boats located in the United States.

Can I bid if I live outside of Canada?

Yes, individuals living outside outside of Canada are allowed to bid on Boat Bids. Here are some things to be aware of as an international buyer:

International buyers are required to pay in full for the boat promptly after the close of the auction, just like other buyers.
Buyers outside of Canada are responsible for handling logistics, import fees, transportation, legal dues, and any other necessary tasks related to exporting/importing the boat.
Buyers should ensure they are fully aware of all the rules and requirements, and they have everything in place before participating in the auction. It's emphasized that the close of the auction is not the time to start researching transportation logistics and import regulations.

Can I contact a seller privately?
You can contact the seller privately through the auction description page for the seller’s boat. Just click the “Contact the seller” link next to the seller’s name, and you’ll be able to send the seller a private message that won’t appear on the auction itself.

What is proxy bidding?

Users have the option to input their maximum bid for a boat. The system will automatically increase the bid by the minimum amount over the previous bid until the user's maximum bid has been met.

For example, if the current high bid is $50,000 and a user inputs a $58,000 max bid, the system will incrementally increase the bid by the minimum required bid amount each time the user is outbid. Once the system reaches the user's final bid of $58,000, the user may choose to bid manually or input another "max bid" if they wish to increase their maximum bidding amount.

*Users are advised to keep an eye on the auction in case they want to increase their maximum bid amount.

Can I find out the reserve price?

Listings without a reserve price will display a "No Reserve" text near the "current price."
If there is no "No Reserve" text, it indicates that the auction has a reserve price. Reserve prices are not published for public view.
The only time a buyer will know if the reserve is met is when the boat sells at the close of the auction.

Will I need a Bill of Sale?

Boat Bids recommends drafting up a Bill of sale that includes Year/Make/Model/HIN of the boat being sold, the purchase price, and the terms of the transaction. You may want to specify any additional items included in the sale, such as a trailer or any accessories. The bill of sale should be signed and dated by both buyer and seller. You may choose to use the document generated by Boat Bids to find the user input information. We always recommend to verify personal information and boat information to ensure it matches physical copies. You can also check with your provincial office for Bill of Sale templates and requirements

What if the reserve price hasn’t been reached?

If you are the high bidder on a boat, but the reserve price is not met, Boat Bids will work with the seller and the buyer to find a sale price that is suitable for both parties.
If an agreement is reached, Boat Bids will put the buyer and seller in contact.

How can I arrange financing?

The information provided in the listing is often sufficient for pre-approval for that specific boat, but if other information is required by your lender, please use the “Contact” button to reach out to the seller!

Boat Bids has teamed up with PowerSports Link Financing to offer users a streamlined financing solution. PowerSports Link offers extensive financing solutions for marine buyers and will work with you along the way to acquire your dream boat. Check out the direct link in the “Financing” tab at the top of our page.

How do I get my new boat?

Transportation costs are always the buyer’s responsibility. We recommend getting personal travel and/or shipping cost estimates before placing a bid. Some common strategies for collecting a boat include:

Finding a suitable tow vehicle and embarking on a road-trip to bring your new boat home.
Booking a one-way flight and taking a boat-trip home.
Using a shipping company to pick up and deliver the boat to your location.
As you review these options, please be sure to establish a timeline would work for the seller prior to bidding. Some sellers may be willing to store the boat for a period of time.
Contact the seller regarding registration transfers, funds transfers and potentially paying off any outstanding loans.
To facilitate the process of finding a marine transporter and getting various quotes, we have provided links to our Marine Transportation Partners. This can be helpful in understanding the approximate cost of shipping. Make sure to consider these costs prior to bidding!

How do I pay the seller?
We recommend wire transfers, bank drafts or other forms of certified funds for payment. We recommend connecting with the seller to discuss any preferred forms of payment and a timeline that will work for both parties.

What rules should I follow in the comments?

Conversations should primarily be focused on the boat being sold to ensure fairness to both the seller and bidders.
Abide by common-sense rules, avoiding language and personal attacks.
Avoid discussing certain topics, including foul language, personal attacks, sharing personal contact information, spamming, asking about the reserve price, speculating on the selling price, inappropriate images or descriptions, plugging personal business or external links, sidetracking conversations about unrelated topics, linking to inappropriate content, and linking to other boats for sale ads.

SELLER QUESTIONS

*ARE YOU TRADING IN YOUR AUCTIONED BOAT TOWARDS A NEW ONE FROM A DEALER OR BROKER? WHEN YOU HAVE A BUYER... YOU CAN COMPLETE THE TRANSACTION THROUGH THE DEALER OR BROKER. THE BUYER CAN PURCHASE IT DIRECTLY FROM THEM FOR THE WINNING BID AND YOU CAN STILL TAKE ADVANTAGE OF YOUR TAX SAVINGS!*

What is the seller fee to sell my boat on Boat Bids?

It’s completely FREE!

Can I sell my boat if I live outside of Canada?

Boat Bids only offers boats for sale located in Canada. The possibility of adding international sellers is mentioned as a potential consideration for the future.

How do I sell my boat?

To sell your boat, go to the “Sell” link in the header. In order to sell your boat, you’ll need to provide us with some important information – like the year, make, model, HULL identification number, registration number, photos, and some other relevant details.

Will I need a Bill of Sale?

When will my listing go to a live auction?

NEW LISTINGS GO LIVE EVERYDAY AT 8PM EST AND RUN FOR A FULL WEEK!

IF YOU CREATE A LISTING PAST 8PM EST, IT WILL GO LIVE THE FOLLOWING DAY

What kind of photos should I use when listing my boat for sale?

Visuals play a crucial role in helping potential buyers assess the condition and appeal of a boat. We recommend users to check out the photo guide on the listing page for tips and tricks.

High-quality and detailed photos can enhance the listing, attract more potential buyers, and contribute to a positive overall auction experience. Sellers should consider showcasing various angles, interior and exterior features, and any notable details that make their boat stand out.

Should I take a video?

Providing potential buyers with a video detailing the exterior condition, interior, engine bay, damages, and showcasing the engine start and run can significantly enhance buyer interest and confidence.

Cover various aspects, including the exterior and interior condition, engine bay, damages (if any), and demonstrate the engine start and run.
The video content can be presented in a single comprehensive video or broken up into several videos.
Film in landscape mode (horizontally) for a better viewing experience.
Use a platform like YouTube to host the video content.

How long will my listing be live for?

The seven-day duration is a standard timeframe for auctions on the platform. However, the dynamic feature that extends the auction by one minute each time a new bid is placed within the last minute adds an interesting element. This feature simulates a traditional auction where bidding continues until participants stop, avoiding a set end time that might favor last-second bids

Can I edit my auction once it’s live?

Sellers cannot edit their auctions directly.
If a seller needs to make changes to their auction, they are encouraged to reach out to Boat Bids and communicate the necessary edits.
Sellers have the option to leave comments on their listings. They can also respond to questions from potential buyers to enhance the clarity of their listing.

How do I respond to questions during the auction?

Sellers are strongly recommended to be active participants in the comments section of their auction listings
Sellers should respond to any questions submitted in the comments section or directly from users through the Contact Seller option
Staying positive and constructive in responses increases confidence from potential bidders.
Sellers are reminded that buyers are boat enthusiasts, and their questions likely indicate serious interest in the boat.

Can I put a reserve price on my auction?

Sellers on Boat Bids can choose between a "reserve" auction and a "no reserve" auction. In a "reserve" auction, sellers set a minimum price (reserve) that they are willing to accept for the boat. The reserve price is unknown to buyers during the auction and the boat will only sell if the highest bid meets or exceeds the reserve. If a seller chooses a reserve auction, they will be asked to choose the LOWEST price they are willing to accept as the reserve.
In a "no reserve" auction, there is no minimum price (reserve). The boat will sell for the amount of the highest bid.
Boat Bids may suggest a lower reserve price if it is deemed more reflective of the current market conditions.

Should I disclose my reserve price?

Do not reveal your reserve price to anyone. Keeping the reserve price confidential can help maintain a competitive bidding environment and avoid potential negative effects on the auction dynamics.

What should I do before I sell my boat?

We recommend to note all the steps you may need to take in the event of a successful sale. Whether that is preparing the boat for pick up, paying off any outstanding loans on the boat and having the required registration documents. The more prepared you are, the easier you can you finish up the sale.

Can I make a deal outside of Boat Bids with a potential buyer?

No – Boats listed on Boat Bids are for sale exclusively through the auction. Attempting to make a deal outside of the auction to subvert the process is not allowed. Violating this policy by attempting off-auction deals will result in a permanent ban from the site.

What if my reserve isn’t met?

If the reserve price is not met, Boat Bids will contact the seller and the highest bidder on the auction and will attempt to negotiate a price that satisfies both parties. If an agreement is reached, Boat Bids will put the seller and buyer in contact.

Sellers also have the option to automatically re-list their boat up to 10 times. This option is available on the listing form.

How does the buyer get in contact with me and make payment?

After the auction concludes, the completion of the transaction is between the buyer and the seller. Boat Bids provides the buyer and seller with each other's contact information. The two parties can communicate and finalize the transaction through e-mail, telephone, or in person. Boat Bids generates a document with buyer and seller information, boat details, and the amount to be paid to the seller. Users can find this information under "My Account" in the "Documents" tab.

How do I ensure get paid safely?

In general, Boat Bids recommends wire transfers, bank drafts or other forms of certified funds as the safest form of payment. Do your due diligence and ensure the funds are legitimate. This may include meeting a local buyer at a bank to verify a bank draft, withdraw the funds directly, or complete a money transfer. In any situation we recommend verifying that funds have been received before signing over the registration.

What if the winning bidder doesn’t end up buying my boat?

It is important to remember that ALL BIDS are BINDING when bidding on Boat Bids. It is very rare that a winning bidder does not follow through on the sale. In a situation where this happens, the winning bidder automatically forfeits their 4.0% buyer fee and will be removed and banned from Boat Bids. Boat bids will reach out to the next top bidders in order to sell your boat at a price that is agreed upon. If for any reason we are unsuccessful, your boat will be re-listed and we will help you find the perfect buyer. On a case by case basis, Boat Bids may elect to pay you 50% of the collected buyer fee if we are unable to successfully sell your boat within 120 days.