Mecum Auctions said it will hold the world's first superyacht auction on Friday and Saturday on South Beach in Miami.
By bringing an entirely new business model to the yachting industry, Mecum said, its yacht auctions will allow brokers to utilize the auction platform to instill a sense of urgency in their sales, cutting time from the equation while maintaining commission earnings.
The company said a promising lineup for the May auction includes more than 20 yachts, seven of which are superyachts — boats larger than 75 feet.
Among the selection that will be offered at South Beach are a Delta 124, a 130-foot Hatteras, a 98 Destiny, a 105 Custom yacht, an 86-foot Amer and other yachts ranging from 45 to 75 feet.
Mecum said all of the superyachts and yachts will have a general overview survey performed and available to bidders before the auction. Interested bidders also can arrange to have their own surveyors inspect a yacht before the auction.