Apoise megayacht

Canadian yachtsman Dave Ritchie has decided to auction off Apoise, the 220 foot (67 metre) megayacht he had built by Lurssen in Germany in 2006, but his method may raise a few eyebrows.

The auction is being held at the Ritz Carlton hotel on Grand Cayman island on March 30 and there will be no minimum bid and no reserve price -- just one new happy owner.

Apoise, which has accommodation for 12 in the owner's party and room for 19 crew, visited Australia a couple of years ago during Ritchie's relaxed four year cruise around the world. It created intense interest in boating circles as it was one of the largest private yachts to visit the city.

With a top speed of 16 knots, a cruising speed of 14 knots, and the ability to cover 5000 nautical miles at 12 knots on one tank of fuel, Apoise is ideal for someone who wants to see the world in comfort.

The owner's suite covers 1400 square feet and the five guest staterooms, all with kingsize beds, all have their own marble ensuites.

There are six decks, including the upper sundeck with 360 degree views, and ample formal and informal dining and entertaining areas. Private viewings of the yacht will be held in Grand Caymen from next week, should be interested in having a sticky beak.

Ritchie had the yacht built when he retired from the company he helped found, the Canadian-based (but now world-wide) Ritchie Bros. Auctioneers, so it is no surprise that he has chosen to sell the boat through his old firm.

In fact he planned originally to sell it after only two years.

"I enjoyed the yacht so much that we ended up cruising for four years," Ritchie says, "I always planned to sell the yacht through Ritchie Bros because I really believe in the auction system."

Ritchie Bros, which was founded in 1958, only conducts unreserved auctions and specialises in heavy machinery.

Would-be owners don't have to travel to Grand Caymen to bid, as bids will be accepted online from registered bidders.

Those wishing to bid must register by March 25 and must lodge a refundable deposit of two million Euros in an interest bearing account by that date.