37 M Superyacht May Go Under the Hammer
If the 37 metre custom motor yacht Java is not sold privately prior to 3 pm on Monday, November 2, she will be auctioned off at her dock in the Las Olas Marina on the day after the Fort Lauderdale International Yacht Show closes with the auction held on board the yacht itself.
“This is a rare opportunity for a buyer looking for a reasonably priced, beautifully outfitted and meticulously maintained megayacht,” said Bruce Schattenburg, Managing Director of listing broker; The Sacks Group Yachting Professionals.
He feels that the best deals for super yacht purchases right now can be found in the U.S.A, especially with the dollar still weak against the Euro.
He says, “Java represents an excellent investment for the right owner.” He added, “At the recent Monaco Yacht Show, we were surprised at the high prices listed for many of the European brokerage yachts on display. We feel.”
Auctioneer Kurt Bosshardt of Bosshardt Luxury Collection agrees saying, “Java is a well-established luxury charter yacht and already has at least two charters reserved for the coming season, worth in excess of $150,000, which will go with her to the successful bidder.”
The auction will be open to pre-registered yacht brokers, whose commission will be protected by the rules of the event. Any broker bringing a buyer to the auction, and acting clearly as a disclosed agent of the bidder, will be guaranteed at least a four percent commission.
Launched in 1990 at Broward, Java features a contemporary interior that has been updated by an extensive refit. She accommodates 10 guests in five staterooms, including a full-beam master suite, two queens and two twins, each with en suite bath. Java has a formal dining area and an informal Country Kitchen, as well as al fresco dining options. Her sundeck with an eight-person Jacuzzi and her water-sports toys are popular with guests. She is available for charter in the Caribbean this winter starting at U.S. $69,000 per week, plus expenses.
The rules of the auction are:
- Auction participants will be required to register and place a fully refundable “participation deposit” of $150,000 in a designated escrow account prior to noon on November 2, in order to inspect the yacht and engage in the bidding.
- Inspections, walk-throughs and viewing of Java will be permitted by registered brokers and buyers from 1 to 3 pm on November 2. The auction will follow immediately afterward.
- The auction will be conducted on an “open-bid” sequential-order basis, meaning each participant’s bid will be open to review by the other bidders at the event. Each bidder will be entitled to enter his or her bid in the order in which their “participation deposit” was received by the yacht’s Central Listing agents. Bidding will occur in this order until all but one bidder has dropped out.
- The auction will be subject to a sealed minimum bid; if no bidder reaches the minimum bid, the seller will have the option of accepting the highest bid or cancelling the sale and refunding all deposits.
- Subject only to clear and marketable title being conveyed to the successful bidder, the auction will be final. An offshore closing can be arranged to accommodate bidders agreeing to remove the yacht, or register her under a foreign jurisdiction.
- Up until 3 pm on Monday, November 2, the yacht may be sold at private sale, and if so, the auction will be cancelled.