A longtime reader of this column draws my attention to the forthcoming auction of the 38.4m Christensen motor yacht Emerald Isle.
Built to ABS class in 1992, this superyacht had a major refit in 2009 and accommodates eight guests in a master, VIP and two double cabins. There's been some criticism of yacht auctions recently by brokers and, to offset this, the auctioneers are offering a commission to the broker representing the successful buyer.
In addition, there will be a Broker Reception on Wednesday, July 21st at 4.30pm in Lauderdale Marina at 15 Street Fisheries, where $1,000 in gift certificates will be given away throughout the event. The auction itself will be held at 11am on August 24th in Destin, Florida with a price reserve of $2.85 million.
My correspondent, an experienced superyacht owner, comments: "Auctions of commonly known boats let everyone know where the market really is price wise and I believe result in more sales activity. They allow owners to know what the real values are and thus take their losses and move on. The auction of Apoise allowed Phoenix to sell at the correct price. This auction will provide information to help all involved. My bet? Does not make the reserve, but sells under it shortly after the auction."