Ray White Marine has achieved $3 million dollars in sales following The Event auction campaign, using an approach never seen before in the industry.

Sales and Marketing Manager Mark Ali said the fast sales of four luxury vessels within four weeks of The Event, demonstrated a positive attitude from buyers and sellers towards the innovative way Ray White Marine was choosing to auction its vessels.

“Vendors and buyers are becoming more comfortable with the auction process as an acceptable and credible means of purchasing high end luxury motor yachts,” he said.

“We are not aware of any other marine event in the world where potential buyers can walk into an establishment such as the Palazzo Versace ballroom and participate in virtual tours of vessels for sale via high definition video, prior to bidding.

“In addition a Ray White Marine auction is a ‘no additional charge’ process with no buyer’s premium, meaning that unlike other auctions the buyer is not required to pay a commission on top of the purchase price.”

A total of 10 boats went up for auction at The Event five weeks ago, and in addition to the four already sold, another three have had conditional offers totalling approximately $1.4 million.

A Riviera M370 sports cruiser berthed in Sydney was sold immediately after the auction following its presentation on the big screen, and the other sales were Sea Ray 455 and Mustang 46 sports cruisers, and a Sunseeker Manhattan 60-foot motor yacht.

“There were 36 registered bidders at the auction, including three interstate phone bidders – one of whom bid well in excess of a million dollars,” said Mr Ali.

“We are also pleased with the interest and activity generated during the auction process, which resulted in more than 100 inspections during the 3-week lead up.”

Mr Ali said that the introduction of free insurance for the first 30 days, boat finance and other innovative offers Ray White Marine have made available to buyers, are new to the industry and being well-accepted into the market.

“The Ray White Marine team has more than 20 years experience in the marine industry, so whilst Ray White is synonymous with property, this new initiative brings the boating public the vast resources of the group as well as the trusted brand name,” he said.

The next Ray White Marine auction is scheduled for early May and listing registrations are now open.