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  1. #51
    Registered Steve Snider's Avatar
    My Boats:
    1994 Cigarette Cafe Racer
    Join Date
    Nov 2001
    Pompano Beach, Florida
    I do quite a few surveys at NL and I can assure you that the brokers are under pressure to move boats. Don't let the minimum bid price scare you a broker and make a bid. I see awesome buys on all kinds of boats.

  2. #52
    S.O.B (single O/B) now Platinum Member t500hps's Avatar
    Join Date
    Sep 2004
    Richmond VA
    Quote Originally Posted by bert4332 View Post
    I don't think NL really cares if the boats sell or not, they get paid to store the boats and to push the paperwork to and from the bank. My "guess" is that prices are set via how much the bank has in the boat plus a few. So if someone put 100k down and loaned out 50k, on a $150k boat, the bank only has 50k plus a few points. That's where I believe people get good deals, the minimum bid might be 85k, but someone might throw a low ball bid of 55k, the bank gets their 50k plus a lil, NL gets paid to store and push the paper and someone gets a good deal. On the other hand, if the same guy puts 50k down and loans out a 100k I don't see the bank taking the low bid of 55k. Additionally I don't see NL really busting their ass to coverthe boats or to push sales, it's counter productive, less sales equals longer time storing the boat which increases their revenue.
    yeah, that few bucks a month in storage fees is way better than 10% of the sale and the banks confidence that the boats are getting moved/sold......therefore ensuring MORE of the banks boats come to their location.

  3. #53
    Join Date
    Nov 2006
    I have had no luck with NL. I have bid on a fair share of boats and never had any feedback on my bid from NL. I always had to call and ask about the bid and what was going on. Every time was told a story that did not make since. I wont go into details but the deal you think you might get better be good because they don't mind wasting your time. I don't care what they have on the lot and what I can get it for.
    I agree with others....they do not care if a single boat sells. Now if a multiple boat deal shows up it is a different story. If you can get several people together and bid on multiple boats you might make something happen. Was told this straight from the horses mouth.

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