Emerald Isle auction fails to meet US$2.85m reserve price

Emerald Isle auction fails to meet US$2.85m reserve price

The auction of the 38m (126ft) Emerald Isle – scheduled for last week – did not go as anticipated, with the minimum bid failing to be reached.

Built by Christensen Shipyards in 1992, the yacht underwent a US$2m refit in 2009 and attracted a high bid of US$2m. The reserve bid, however, had been set at US$2.85m.

Even though the auction didn’t go to plan, Caley King Newberry, communications director for auctioneers J.P. King, says that her company will be doing all it can to find a new owner soon.

“As with any of our auctions that – for whatever reason – may not sell on the day, our team will immediately get to work on selling it in private negotiations,” she says.

The yacht’s current owner, Bonnie Harvey, believes Emerald Isle will make a good financial – and personal – investment for whoever eventually buys her.

“Emerald Isle was special for us because it was big enough to be roomy, yet small enough that we could go into areas that other boats could not go.” She also adds, “It was like home.”

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