Fair Auction Policy

You've come here for a bargain.  You're not here to bid against a seller who is secretly driving the price up with shill bids.  You're not here to purchase a boat that has been misrepresented.  You've come to the right place.  Following is ProjectBoats.net's "Fair Auction Policy":

1.  We enforce a "no shill bids" policy.  ProjectBoats.net's contract with sellers prohibits them from directly or indirectly bidding on their own merchandise and provides penalties for sellers caught making "shill" bids.  In the event ProjectBoats.net discovers a seller has caused any shill bids to be made, ProjectBoats.net will notify the affected bidders and take remedial action.  In addition to giving the winning bidder the right to void the sale, ProjectBoats.net can void all bids made on behalf of the owner and reduce the bid in consideration of bids made to outbid a shill bid.

2.  We disclose all known material damage.  ProjectBoats.net endeavors to post on the web site any pertinent information we obtain from an insurance company (based upon the claim paid), from the owner of the vessel or from our own inspection (if we have an opportunity to inspect the vessel).  If we have not been able to have the vessel inspected by our staff or an independent third party and we feel there is a question as to the accuracy of the description of the damage, we will auction the vessel subject to a survey.

3.  Our auctions are absolute.   ProjectBoats.net sells vessels to the highest bidder - period.  We do not employ "secret" reserve prices.  We do not use sealed bid auctions which are often a prospecting tool to find potential buyers who then have to negotiate with a salesperson.  In cases where it is necessary to have minimums, we endeavor to keep the minimum as low as possible.

4.  Bid manipulation is prohibited.  Sellers are also entitled to a fair auction.  Any form of collusion between bidders is prohibited.  ProjectBoats.net reserves the right to void any sale in which any form of bid manipulation, collusion or contact has occurred or where there is a bid cancellation within 48 hours prior to the end of the auction.