Mega yacht sells for $38.26 million bargain

A mega-yacht that was sold off in
an unreserved auction was snapped up for CI$38.26 million.

The Apoise, a 220-foot luxury
vessel, has been moored in Cayman for the latter weeks of March after its previous
owner, auctioneer boss David Ritchie, decided to sell it following four years
of world travel.

The auction was unique in that
ships of this nature do not come on the market very often, and when they do,
they are likely to change hands in a secretive private deal.

Interested observers mingled with
bidders at Ritz-Carlton hotel in Grand Cayman as bids kicked off at CI$22.02
million.

World interest

Auction project manager of Ritchie
Bros. Auctioneers, Stephen Branch, said the final purchaser was an overseas
bidder.

“We had bidders from UK, the US and
a lot of interest from around the world. Mostly they didn’t understand that it
was going to sell today; our biggest challenge was making sure people
understood that we were truly an unreserved auction

“What we do is sell heavy
equipment, transportation and mining equipment, so usually we can look at
something and evaluate what it’s worth because we have this history of selling.

“We’ve never sold anything like
this so there’s no evaluation you can give. The owner felt that whatever it
would sell for would be [a fair] price so there was no expectation,” explained
Mr. Branch.

The yacht’s listed asking price on
its completion in 2006 was $71.6 million.

BUZmegayachtSTORY

Apoise: a bargain
Photo: Submitted
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