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Super Yacht Auction (SYA) is a new initiative in the yacht market and the first global auction platform for super yachts larger than 24m. As of 1 January 2010 SYA will organise online and public auctions for superyachts. It is a great tool for those wanting to reach a wide audience, and generate fast sales in the exclusive yacht market.
The company say that the auction process is both the most positive and most effective method to realize the highest price the market is prepared to pay for a particular superyacht at any given time. In auctions, transaction periods are short, which means fast sales (generally within four weeks). In addition, any principal who brings a superyacht to the auction is guaranteed to receive 50% of the auction commission. Every superyacht on auction is presented to thousands of registered bidders, and bids are irrevocable and unconditional.
The superyacht is sold in the condition in which it is at the time of acceptance (“as is where is”). For that reason every online or public auction is preceded by two inspection days (Saturdays
and Sundays). That gives potential bidders every opportunity to check and verify the superyacht before bidding. Both online and public auctions take place under the official supervision of a well-established (nautical) bailiff firm or notary public.
Super Yacht Auction is located in Amsterdam, Athens, Barcelona, Dubai, Fort Lauderdale, London, Marbella, Monaco and New York. SYA is a subsidiary of Vessel Auction which specialises in the organisation of online (175 per year) and public auctions of boats, ships and yachts.
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