Lyman-Morse Buys Unfinished Yacht at Auction
August 8, 2012
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.
Follow New England Boating:
Don’t forget to sign up for our monthly newsletter!
Each month our emailed newsletter keeps you up to speed on the top news items, videos, destinations, reviews and fishing articles on New England Boating, so you won’t miss a beat. It’s convenient, it’s free, and you can opt out at any time!