Thomaston -
The Maine boat builder constructing a $3.7 million sailboat has bought the vessel at auction for $50,000.
Lyman Morse Boatbuilding Co. of Thomaston was the only bidder Wednesday at the court-ordered auction.
The 70-foot boat had been commissioned in 2008 by a British citizen living in Brazil. Midway through construction he informed the boatyard he was unable to pay for completion of the yacht.
Lyman Morse filed suit and earlier this year, a federal judge ordered the sale.
Lyman Morse officials say they had put about 25,000 hours of work in the vessel over a year and a half.
Company Chief Financial Officer Bruce Hopkins tells the Bangor Daily News, that they'll now try to find a customer who wants the yacht finished.
Lyman Morse Boatbuilding, Co. Buys Unfinished Sailboat
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