Abandoned 15-metre yacht up for auction in Lanzarote from €40,000
The Port Authority has put a 15-metre sailing yacht up for auction after it was abandoned in the Port of Arrecife, with a starting price of €40,500. The yacht, named Catalonia, is a Babaria 50 sailing boat, built mainly with a fibreglass hull and fitted with a Volvo Penta TAMD 22 engine.
Despite its current condition, an official valuation for the auction estimates its market value at between €91,000 and €117,000, based on comparable vessels.
According to the surveyor’s report, the boat requires general maintenance work. This includes attention to the exterior, a new sail, and repairs to parts of the rigging and running gear. These issues explain why the yacht is being offered at a price well below its estimated market value.
How to take part in the auction
Anyone interested in bidding must submit their offer by 2.00pm on 26th January. Bids can be lodged at the Official Registry of the Port Authority or via post offices.
Participants must also provide a provisional guarantee deposit of €2,055 which represents 5% of the base auction price. This deposit is required for your bid to be considered valid.
The auction offers a potential opportunity for experienced sailors or investors willing to take on refurbishment work, with the possibility of acquiring a sizeable yacht at a significantly reduced price.
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