eBay Megayacht Auction Fails

Rockford Register Star | No bidders on megayacht

An interesting idea: sell a megayacht online through an eBay auction. While the idea certainly got plenty of media attention, when the eBay auction closed, no buyers had put in a bid for the 123-foot long megayacht owned by Rockford businessman John Martin.

Was anyone surprised that no one put in the starting $5 million bid? No, most megayacht brokers will tell you that this high-ticket, luxury item requires the expertise of an experienced megayacht broker, like Fraser Yachts Worldwide. Even Mr. Martin wasn't surprised, "It would be unrealistic to think anyone would decide to want it and come up with the money in the 10 day life of the listing."

However, Mr. Martin does believe that there was one benefit to the eBay megayacht auction, "The notoriety could help us to sell it through more normal channels."