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Apoise Auction – The Ritz-Carlton, Grand Cayman

Mar 1, 2010

Apoise Auction – The Ritz-Carlton, Grand Cayman

March 30, 2010

One of the world's largest megayachts is to be sold at an unreserved auction at The Ritz-Carlton, Grand Cayman on March 30. At almost 220 ft (67 m), Apoise was ranked 89th in Power and Motoryacht magazine's list of the world's largest yachts in 2009. Apoise was built by renowned architects Lürssen Yachts and features a luxurious 1,399 sq ft owner’s suite, spacious suites for 12 guests, six decks, indoor and outdoor dining areas, a Jacuzzi on the upper deck and lounges throughout. This unique vessel will be sold to the highest bidder on March 30, at the auction begining at 11:00am EST.

Apoise is owned by Dave Ritchie, who co-founded Ritchie Brothers Auctioneers – organizers of the auction. After leading Ritchie Brothers to its position as the world’s largest industrial auctioneer, serving as CEO until 2004 and as Chairman until his retirement in 2006, Ritchie purchased Apoise with the intention of sailing the world for two years, and then selling the yacht at a Ritchie Brothers auction. However, he enjoyed Apoise so much that two years became four; and in that time, he has traveled all over the world – from Alaska to Australia, the Mediterranean to the Caribbean – often entertaining delighted Ritchie Brothers customers on board.

Now 74, Ritchie is ready to settle on terra firma; quite appropriately, his yacht will be sold by auction to a new owner on March 30.

"I really believe in the auction system," Ritchie said.

There are no minimum bids and no reserve prices for the Apoise auction. However, pre-qualification is required and interested buyers must place a refundable, interest bearing €2,000,000 deposit when registering to bid. Participants may choose to bid in person, online in real time at www.rbauction.com, or by placing a proxy bid in advance, and bidders must register by Thursday, March 25.

Potential purchasers may register to bid at the Ritchie Brothers booth at the Dubai International Boat Show taking place at Marina Club, Mina Seyahi from March 9 – 13; onboard Apoise in Grand Cayman; or online at www.rbauction.com

For six weeks prior to the auction, Apoise will be moored in Grand Cayman – where private viewings of the luxury megayacht may be arranged. For more information, to register to bid, or to arrange a private viewing of Apoise in Grand Cayman contact Stephen Branch at +1.778.331.5296, +1.604.377.2030 or by e-mail at sbranch@rbauction.com; or alternatively contact Ellen Engelsbel at +1.778.331.5427, +1.604.790.6678 or by e-mail at eengelsbel@rbauction.com

Apoise specs for a sidebar:

APOISE – 220 FOOT LUXURY MEGAYACHT

•Built by Lürssen Yachts (project name: Marlin)

•Designed by Espen Øino

•Built in Germany and launched in 2006

•Ranked 89th in Power and Motoryacht magazine's list of the world's largest yachts (2009)

•Two 1850 HP Caterpillar 3512B DITA SCAC diesel engines •Maximum speed: 16 knots

•Cruising speed: 14 knots

•Fuel capacity: 190,000 liters

•5,000 nm range at 12 knots

•Length: 219.82 feet (67 m)

•Maximum beam: 43.04 feet (13.12 m)

•Tonnage: 1838 GT; 551 NT

•Tenders: two 14-person Denship, one 15- and one 8-person Novurania

•Accommodates 12 guests and 19 crew

•Six decks in total, including the topmost sun deck, which offers 360 degree views

•Main, bridge and upper decks feature numerous lounges and sunbathing areas, as well as indoor and outdoor dining

•Upper deck offers a large Jacuzzi, sports bar and gym

•Main deck highlights include the formal dining area and 1,399 sq ft (130 sq m) owner’s cabin, which includes a full-beam master bath and private Jacuzzi

•Apoise has five spacious guest suites with king size berths and individual en suite bathrooms

For all other island events please visit: www.dragonbaygrandcayman.com/island_events