Seller satisfied with Minnesota vintage-boat auction

Published online: Oct 19, 2010 News Trade Only Today
Viewed 159 time(s)

The auction of the F. Todd Warner classic boat collection, which was held Oct. 15-16, netted $3.6 million for Warner and Mahogany Bay, his Mounds, Minn., wood boat restoration, sales and storage firm, Warner told Soundings Trade Only.

Winning bids totaled about $4 million on 127 boats, plus dozens of old engines and parts lots. Ten percent of the gross went to auctioneer Mecum Auctions, of Marengo, Ill. Warner said he was pleased with the results of the "no reserve" auction - one in which the auctioneer sets no minimum bid.

"I would say another 10 percent would have been more in line [with the collection's value]," Warner said. "But a lot of the boats went for a reasonable price. In this world, in this economy, it was the best it could be."

The top-grossing boat was Gerry Lo, a 1929 Dingle 30-foot, triple-cockpit runabout, which fetched $315,000, followed by Sugar Lady, a 1932 Chris-Craft 27-foot, custom triple-cockpit runabout, which sold for $305,000. The top 10 yachts brought in $1,756,111. The figures do not include the auctioneer's 10 percent cut.

Read more at
http://www.tradeonlytoday.com/home/506822-seller-satisfied-with-minnesota-vintage-boat-auction

You May Also Be Interested In...

April 01, 2015

JC Manufacturing becomes JC TriToon Marine

Formerly known as JC Manufacturing, the Indiana-based pontoon manufacturer has officially changed its name to JC TriToon Marine.
March 31, 2015

Cascade Cycleboats launches pedal-powered boat tours

A rickshaw by any other name...wouldn't be a rickshaw anymore, I guess. But Cascade Cycleboats certainly evoke those three-wheeled conveyances of years past.
March 19, 2015

Carefree Boat Club adds location in Georgia

Carefree Boat Club has just opened a brand new location, adding to its ever-growing lineup.
March 17, 2015

World's fastest pontoon boat gets even faster

When you think of fast boats, a pontoon is probably pretty low on your list, just ahead of houseboats and tugboats. Brad Rowland begs to differ.
March 05, 2015

West Marine begins "Do It Yourselfie!" promotion

Show off your selfie fixing up your boat and West Marine could lend you a hand.
March 04, 2015

Pontoon Brands United

Premier Marine announced today the company will transfer the production of its Weeres and Palm Beach brands to its headquarters in Wyoming, Minn.
Follow us on Facebook!  Follow us on Instagram!  Follow us on Twitter!  Follow us on YouTube!