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Unfortunately, for some, boat repossessions are rapidly increasing due to the recent economic struggles. In 2008, the numbers reached 120 repossessed boats per month. As the close of 2011 approaches, the numbers are soaring to above 300 repossessions per month. While these numbers are not good for banks and current boat owners, frugal buyers with money to spend will find incredible deals.
Many astute business owners recognize the opportunity to help lenders and make a profit selling repossessed boats to Australian customers. As it stands, Australian prices are on average are 30% higher than American prices. When an Australian purchases a repossessed boat, they may realize savings of 60% to 70% or more. With these savings, the import and export costs become negligible.