Emerald Isle at night

The auction of the 126-foot Emerald Isle did not go as anticipated last week, with the minimum bid failing to be reached. But there is still a chance the yacht will sell.

Built by Christensen Shipyards in 1992, Emerald Isle attracted a high bid of $2 million, but the minimum bid had been set at $2.85 million. She features an on-deck master suite plus three guest staterooms, one of which is full beam, and reportedly cost $7 million to build. There are also crew’s quarters for six, all below decks.

Emerald Isle was being offered jointly by J.P. King Auction Company, an auction marketing firm, and Yacht Auction Group, which has overseen the sale of boating-related and other luxury assets. Previously, the yacht, which underwent a $2-million refit in 2009, had been offered for sale through traditional brokerage channels but didn’t sell.

Even though the auction didn’t work as planned, Caley King Newberry, communications director for J.P. King, tells me that negotiations are underway with potential buyers. “As with any of our auctions that, for whatever reason, may not sell that day, our team immediately gets to work on selling it in private negotiations,” she explains. Perhaps those individuals have the same cruising goals in mind as the family that has enjoyed Emerald Isle since launch. In fact, Bonnie Harvey, the owner, says, “Emerald Isle was special for us because it was big enough to be roomy, yet it was small enough that we could go into areas that other boats could not go.” She also adds, “It was like home.”

I’m continuing to follow the story and will update accordingly.