Auction instructions
Welcome to Virgin Islands Yacht Broker’s auction platform! Here’s a complete guide to bidding on your dream yacht. Follow these steps to participate in an auction and secure the vessel you’ve been looking for.
Step 1: Account Registration
- Visit the Auction Page – Go to All Auctions to view available yachts.
- Sign Up / Log In – To participate in any auction, you’ll need to have an account.
- If you’re a new user, click on the Sign Up button, fill in the required details, and verify your email.
- If you’re a returning user, simply Log In with your username and password.
Step 2: Browse Available Auctions
- Once logged in, navigate to All Auctions to view all active listings.
- Each listing provides essential information, including:
- Current Bid – The highest bid placed so far.
- Bid Increments – The minimum amount each new bid must exceed the current bid.
- Auction End Date – The date and time when bidding will close.
- Read Auction Details – Click on each yacht listing for more detailed information. This page will provide:
- Description of the yacht, including specifications and images.
- Auction terms and any reserve price (minimum bid required for sale).
- Additional information on inspection and contact details for further inquiries.
Step 3: Place a Bid
- Enter Your Bid – Once you’ve selected a yacht, locate the bidding box on the auction page.
- Start by entering your bid amount. Make sure it meets or exceeds the minimum increment above the current highest bid.
- Review and Confirm – Double-check your bid and click Place Bid.
- Automatic Bidding Option – If enabled, you can set a maximum bid to let the system automatically place incremental bids for you up to your maximum.
- This helps you stay competitive without constantly monitoring the auction.
Step 4: Monitor Your Bid
- Check Your Bid Status – You will receive notifications via email whenever:
- Someone places a higher bid than yours.
- Your bid is the current highest bid.
- Outbid Notifications – If you’re outbid, you can return to the auction page to place a higher bid before the auction closes.
Step 5: Winning the Auction
- Winning Notification – When the auction ends, the highest bidder will receive an email confirming they’ve won the auction.
- Payment Process – Follow the instructions in the email to complete payment.
- Virgin Islands Yacht Broker will require toy to pay a fully refundable 10% deposit
- Finalization and Transfer – Once payment is confirmed, an IYBA sales contract will then be written specifying the selling price, the acceptance date and the closing date for the sale of the vessel, adequate time for a survey and sea-trial will be included in the contract terms to ensure due diligence is carried out on the sale of the vessel.to finalize the balance of the payment, organize the yacht transfer and documentation.
Additional Notes
- Reserve Price: Some auctions have a reserve price that must be met for the sale to be valid. If the highest bid doesn’t meet the reserve, the sale may not proceed.
- Bidding Limits: Be mindful of the minimum and maximum bid increments to ensure your bid is valid.
- Terms and Conditions: Each auction may have specific terms, so read these carefully to understand any unique requirements.
For questions, please reach out to Virgin Islands Yacht Broker’s customer support team.
Good luck, and happy bidding
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- VIYB LTD, International House, 10 Beaufort Court, Admirals Way, Canary Wharf, London, E14 9XL
- Puerto Rico Office – 1654 Calle Tulipan, Ste 100, San Juan PR, 00927
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- info@virginislandsyachtbroker.com
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