Buying in just a few steps
- 1Brief details available online of the vessel that is for sale
- 2Register to access full details & arrange possible physical inspection/online class record access for a specific ship
- 3Request a bidding number for a specific ship to access Sellers Terms and to place online an initial price bid (along with an a/e offer based on provided Sellers Terms)
- 4First round offers are invited until a set deadline. Price bids are placed online with the received anonymous bidding number. Once deadline is over, Sellers will shortlist buyers for final auction round
- 5Terms will be negotiated until RECAP stage with shortlisted Buyers upon which the Auction round initiates for 24 - 48 hours (duration case by case). Only pricing takes place at this stage online - final deadline shifts by 30 minutes if bids received within 30 minutes prior to auction end
- 6Auctions closes once no more bids are received within last the 30 minutes. Sellers shall then inform the party that has been awarded the vessel. Sales procedure commences from then as per usual S&P practise
Information about buying
At the initial stage, the vessel shall be uploaded and can be viewed online. Visible shall be the brief details of the vessel, latest schedule and updated pictures. This will provide you with a general overview of the vessel before you can register to receive further details and evaluate your interest. Upon registration, users will be able to view further specification, specific market information and a minimum price guidance. Furthermore, a very recent pre-purchase inspection report conducted by Idwal Marine shall be available.
Buyers can decide for themselves whether they would like to physically inspect the vessel and/or view the online class records or whether, based on the data at hand, one chooses to waive the right for inspection.
Once Buyers have a firm interest in the vessel and wish to take part in the Sale and Auction, they shall request an official bidding number. Upon granting same by the sellers, the buyers shall be able to download the official sellers terms (Norwegian Sales Form 2012). In the first bidding round, offers shall be provided by E-mail to VesselBid on an accept / except based on the Sellers terms - at the same time, the price bid shall be placed online with commission, if any.
Your received bidding number shall be anonymous and unique so that when placing a price bid, besides your price, only you’re bidding number shall be visible. This is to ensure confidentiality of the party behind a bid. As mentioned, prior to the actual first bidding round, all buyers need to be cleared by the Sellers to be allowed to take part in the bidding process. This shall ensure that only credible buyers take place in any bidding.
After the first round, a shortlist shall be drawn up by the sellers of the buyers that are qualified for the final Auction. An allocated time frame of 1-2 weeks shall be used to conclude negotiations with all these parties and draw up the RECAP’s. The final round shall then be purely focused on the price bids that are again placed online.
VesselBid confirms the acceptance of the bid as well as all other results by e-mail. We are available for any questions you may have and would be pleased to offer you any advice pertaining to the vessels, the bidding process, payment procedures and delivery. We are committed in providing the best service for sellers and buyers alike.