Fancy owning a boat in the Canary Islands? Eleven abandoned vessels are being put up for public auction by the Canary Islands Government, with starting prices as low as €1,000.

Puertos Canarios, the public body responsible for managing ports in the archipelago, has announced the auction of 11 boats officially declared abandoned at ports in Tenerife, Lanzarote and Fuerteventura.

The authority says the auction is intended to clear abandoned property from port areas and free up valuable berths and mooring spaces.

Each boat will be auctioned as a separate lot through sealed bids, and offers below the specified starting price will not be accepted.

Boats available from €1,000

The vessels are located across several ports in the Canary Islands, with starting prices ranging from €1,000 to €12,000.

In Tenerife, three boats are available:

• Twety Dos, Garachico – €5,000
• Chaisa, Playa San Juan – €1,000
• Cinerec, Playa San Juan – €5,054

Three more are being auctioned in Puerto del Carmen, Lanzarote:

• Lady Justice – €12,000
• Calella Dos – €1,000
• El Sonrisa – €1,000

There are four vessels available in Fuerteventura:

• Peace of Mind, Morro Jable – €4,000
• Frape 7, Gran Tarajal – €1,400
• Molly Dos, Gran Tarajal – €6,000
• Malu, Corralejo – €1,500

Finally, Topalue Dos, located in Playa Blanca in Lanzarote, has a starting price of €6,000.

One of the boats for auction identified by the name Molly Dos in Fuerteventura, as the boat name has been changed.

What happens if a boat doesn't sell?

The auction will operate on an ascending-price basis using sealed bids.

If a vessel isn't awarded during the first round, a second auction will take place immediately afterwards, with the starting price reduced to 75% of the original amount.

This means some of the boats could potentially be available for considerably less than their initial advertised prices if they fail to attract a successful bid in the first round.

How to submit an offer

Anyone interested in bidding has 30 calendar days from the day after the auction notice is published in the Official Gazette of the Canary Islands (BOC) to submit their offer.

Bids must be presented at the Puertos Canarios registry offices in the two Canary Islands provincial capitals.

Potential buyers must also provide a provisional deposit equivalent to 25% of the starting price of the boat they want to bid for.

Can you see the boats before bidding?

Yes. Potential bidders can inspect the vessels at the ports where they are currently located until the deadline for submitting offers.

Visits must take place during normal office hours and need to be arranged in advance in accordance with the auction conditions.

The public auction itself will be held at the Puertos Canarios headquarters in Las Palmas de Gran Canaria within one month of the bidding deadline.

The exact date and time will be announced on the Puertos Canarios website at least five days beforehand.

With prices beginning at just €1,000, the auction could attract plenty of interest, although prospective buyers should remember that purchasing an abandoned vessel may involve additional repair, transport, mooring and maintenance costs beyond the winning bid.