Auction companies such as National Liquidators allow online participation in repossession auction for boats and yachts. Companies such as Midwest Marine Repo Center purchase repossessed boats and then sell them to interested parties.
While there are also local repossession auctions, online auctions allow participants from other areas to register and bid on the boats as well, purchasing in real time. Resellers and individual purchasers can both take part in these auctions, and the company also offers financing to qualified purchasers in the majority of cases. When dealing with resellers such as Midwest Marine Repo Center, buyers can expect to pay more than auction prices because of the costs of dealing with a middleman.