Dozens of repo boats invade Oshkosh

OSHKOSH - Boats lined the pavement along Egg Harbor Drive in Oshkosh.

Skipper Bud's Midwest Marine Repo Center recently bought more than 300 boats worth about $10 million. When a boat dealer closes, Skipper Bud's buys up the inventory and sells the boats at a discounted price.

"We found that if we put it at a certain price point the boats sold and sold quickly,” said Todd Riepe, General Manager of Skipper Bud’s. “There's a high demand for nice boats, but at a lower price point."

This is the second year the company is selling repossessed boats.

Riepe says he expects the high-end boats to be sold out in the next two months. Last year the dealer sold 17 boats in just two days.

"If (shoppers have) been out on the market shopping and they see what these are sold for, they take advantage of it pretty quickly," said Riepe.

Skipper Bud's expects to sell more than 100 of the 300 boats in Oshkosh. With the discounted prices, other boat dealers in the area are not thrilled.

Tim Doberstein, owner of Spellman's Marina in Oshkosh, describes it as a “mom and pop dealer” that just can't compete with what Skipper Bud's is doing.

"With them bringing boats in from like five different states, they can sell them for less than a boat costs me,” said Doberstein. “Can't compete with that much."

There could be some benefits.

“It's both good and bad,” said Tom Free, Sales Manager at Lakeside Marina in Oshkosh. “I think the more product there is out there, the more people shop. I think they're going to give all the other dealers in the area a little bit of a chance anyway."

Either way, boat dealers are hoping for a good jump start into the summer season.