How online boat auctions work

An online boat auction lists a boat for a set number of days. Registered bidders place bids, the highest bid when the clock runs out wins, and the winner pays and collects the boat.

At One Dollar Boats, every boat was donated, and every auction starts at $1 with no reserve. The winner pays the winning bid plus a flat $499 document processing & boat transfer fee, and there's no buyer's premium.

On many auction sites the seller can set a hidden reserve price. If the bidding doesn't reach it, the boat doesn't sell, even if you were the top bidder.

A no-reserve auction has no hidden price: the top bid wins, whatever it is. Every auction on this site is no reserve, so a boat with one $1 bid sells for $1.

Many auction sites use automatic (proxy) bidding: you enter a maximum and the site bids for you. This site doesn't. The amount you enter is your bid, everyone sees it right away, and any whole-dollar amount at least $1 over the current bid is valid. If you're leading, you can still raise your own bid.

New bidders can bid up to $2,500 per boat until their first completed purchase.

Some auctions are won by "sniping": bidding in the final second so nobody can answer. Here, any bid in the final 2:00 adds 2:00 to the clock. An auction ends only when everyone has finished bidding, so the person willing to pay the most wins.

The winning bid is only part of the total. Before you bid, add up:

• Your bid. See what boats have sold for to get a feel for prices.
• The $499 document processing & boat transfer fee. It's added to every winning bid and covers title verification, invoicing and the transfer paperwork.
• Getting it home. Towing it yourself, or a hauler's quote. See how to get a boat home.
• Registration and tax. Most states charge a registration fee, and many collect sales or use tax when you register. See boat titles and registration.
• Parts and repairs. Donated boats are sold as-is. See how to check a boat before you bid.

Work out what you can spend in total, then subtract everything else. What's left is your highest bid.

• Read the whole listing: whether the engine runs, known issues, what title comes with the boat, and whether a trailer is included.
• Look at every photo, and assume anything marked unknown needs work.
• Check where the boat is, and plan how you'll collect it.
• If the boat is listed without a title, check what your state needs before you bid.
• Ask a question with the button on the listing if something matters to you.
• Bids can't be retracted, so bid only what you're ready to pay.

1. 1
   You get an email when the auction ends, and your invoice by email and in your account.
2. 2
   Pay within 48 hours. There's no checkout on the website: the invoice explains how to pay (Venmo, PayPal, bank transfer, or cashier's check or money order).
3. 3
   Once your payment is confirmed, we send the pickup address and a contact.
4. 4
   You collect the boat. We don't arrange transport; most winners bring a trailer or hire a local hauler.

If a winner doesn't pay, the boat is relisted and their account gets a strike; a second strike closes it.