A new method of selling superyacht is to open to the general public on 1 January 2010 — an open auction. The backers of Super Yacht Auction say that every superyacht put up for sale will be presented to registered bidders online for two days (Saturdays and Sundays) in order to give potential bidders the best opportunity to check and verify the craft’s condition.

The online auctions will take place under the official supervision of a well-established nautical legal firm and bids will be irrevocable and unconditional.

Super Yacht Auction is described by its organisers as “a tool to reach a wide audience and generate fast sales in a market affected by the economic decline”. They also promise that any principal who brings a superyacht successfully to the auction is guaranteed to receive 50 per cent of the auction commission.

Super Yacht Auction is a subsidiary of Vessel Auction which specialises in online and public auctions of boats, ships and yachts.