Selling super yachts by auction has not always been seen as a wise move. Somehow the inference is that the financiers are involved and there is a smell of a fire sale that seems to surround them.
But now Yacht Broker Tim Morley of Morley Yachts in Monaco is hoping to reverse that impression and redefine the way in which yacht auctions are viewed.
He plans to launch his own version and what is more he plans to do it during a yacht show.
So save the date during the Antibes Boat Show because on 20th April 2013, because the auction starts at 3pm, bidding begins at 3.20pm, and is expected to last until 6pm.
Morely hopes this event will communicate the opportunity to establish a fair price for yachts in the current market. He says, “Rarely in the past has there been a chance for buyers and sellers to come together with a wide selection of quality yachts for auction.”
Most of the yachts will be sold subject to survey. We are also accepting yachts that have a survey prior to the auction, so they can be sold on the fall of the gavel.
Leading auctioneer (Commissaire Priseur) Mr Pierre Cornette de Saint-Cyr will preside over the auction further adding to the level of prestige.
The auction itself is being organised in partnership with other leading brokerage companies.
Yachts must be available for inspection for at least one month prior to the auction.
Specifications, VAT status, photographs and video must be provided by 12th March, to be included in the catalogue and on the web site.
While the auction is taking place in the VIP lounge of the Antibes Yacht Show there will be a live link to a secondary location at Monaco’s Star Deck on Port Hercule where there will be a team of phone operators to transmit bids to operator sat the auction.
The lots will be displayed on a giant screen, and the auctioneer’s voice will be heard ‘live’ in Monaco.
It is hoped that this venue in Monaco will provide an exclusive atmosphere, where some buyers may feel more comfortable placing their bids given that for the period of the auction it will be a media free zone to create a more like a private party for well-heeled people interested in yachts.