As the world of fine art auctions gains its new and beautiful cousin – the yacht auction, at this year’s Antibes Yacht Show, the organiser Morley Yachts has confirmed the stunning Margaret Ann, built by Pendennis in the South West of England will be among the boats to be auctioned.
The Monaco resident owner felt that an auction process was the very best way to determine the market value of an asset at any given point in time. “Whilst paintings’ values will not deteriorate over time, beautiful yachts can suffer from extended periods awaiting a sale. Having just fully worked Margaret Ann up for a six month summer cruise I felt the time was perfect to enter the boat into this new and exciting yacht auction concept.”
The owner has a new project that means he will not be able to use his yacht this summer at all.
Tim Morley, founder of this new yacht sales innovation had this to say:
“Margaret Ann is a star of the first Prestige Yacht Auction. We are very pleased that the owner has decided to bring her all the way from Palma to exhibit her in front of the VIP tent at the Antibes Yacht Show, where the auction is taking place. People will be able to view the yacht up to the last minute before the auction, and if their bid is successful they can toast their success on the aft deck as soon as the ink is dry on the contract.”
The owner added, “I just love Tim’s concept and think it could and should revolutionise the industry. The standard practice of marketing yachts with inflated asking prices, having them sit around for years suffering from neglect waiting for an interested buyer who then has to go through a long and drawn-out process with offers and counter-offers makes zero sense to me. What an absurd loose-loose proposition for buyers and sellers alike!”
He went on to say “By contrast, anyone looking to buy a fantastic yacht at a realistic price right now, can come and view Margaret Ann at the show to see whether she is the one. One enjoyable afternoon for all of us and we shall know whether she is sold or not. It’s as simple as that!”
Ed Dubois has extended an invitation to the owner of Margaret Ann to take part in their prestigious Dubois Cup, held at the Yacht Club Costa Smeralda in Porto Cervo, on June 1st, 2nd and 3rd. “We really would be delighted to welcome a new owner at the YCCS in Porto Cervo”.