Lyman-Morse Buys Unfinished Yacht at Auction

Images/Lyman-Morse

Portland Press Herald: A partially built yacht, commissioned in 2008 by a British man who lost money in the recession, was auctioned Wednesday [August 1] for the opening bid price of $50,000 to the boat’s builder, Lyman-Morse Boatbuilding.

The boat, which is 60% complete, would cost nearly $4 million if it were finished, Lyman-Morse said.

The 70’ Deerfoot sailboat, intended to cruise long distances, ended up being auctioned by a U.S. marshal because Richard Lee ran out of money to finish it, according to a lawsuit filed by Lyman-Morse in U.S. District Court.

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Portland Press Herald

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