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Posting date: March 29, 2020, 05.30h.
Last updated on March 29, 2024 at 05:30h.
There are some great deals to be had at the moment. An auction is currently underway for the assets of the bankrupt Imperial Pacific Resort Hotel, which has been shuttered.
Imperial Pacific International is still involved in a court dispute over the Northern Mariana Islands capital, an overseas commonwealth that belongs to the United States. The company has also formally withdrawn its $3.9 billion luxury resort casino.
Cui Lijie, a Chinese billionaire, controls IPI, an Hong Kong-based firm. Cui’s fortune was made by her early investment in Macau junket-firm Suncity.
Cui’s Saipan resort dreams have been a financial disaster. IPI The U.S. territory owes you money Tens of millions in unpaid licensing fees and regulatory obligations. The company pitched to the Northern Mariana Islands’ government earlier this month. $31 million separation fee Resolve the outstanding debts
While that process is ongoing, Saipan-based Clear Management Group — a strategy and advisory firm engaged in the entertainment and hospitality industries — has been appointed the resort’s receiver. Clear Management is in charge of auctioning the assets of the failed casino. This includes its luxury vehicles as well as its dragon art sculpture, which contains more than 2.5 millions dollars. Swarovski crystals.
Saipan Casino Masterpiece
Clear Management reaches out to Casino.org This week marks the start of the Imperial Pacific assets auction. The lot’s most prized item is the crystal dragons, which was the centerpiece of the casino hotel lobby.
The “Saipan Dragons”, which are about 200 feet long, weigh 40 tons. The gem-studded, crystal sculpture flew over the resort’s atrium.
The auction site says: “Two dragons fighting over an flaming pearl is a deeply rooted symbol in Chinese mythology.” The pearl is associated with spiritual power, wisdom, prosperity and immortality.
Lasvit is a Manhattan-based art manufacturer of international renown. The dragons change colors and are illuminated. The project was a combination of glassmaking, metalworking and a “high tech design process” according to Lasvit artists.
Clear Management states that the minimum price for the piece is $100,000. However, there is a reserve. Bids can be submitted until August 22, 2024.
Rolls’ Roll onto Lot
Imperial Pacific’s vehicle sale might be more appealing to luxury car enthusiasts.
The sale includes two 2017 Rolls-Royce Ghosts, both with the extended wheelbase configuration to provide extra legroom. Each vehicle is currently being bid at around $21,000. The Rolls’ is less than 6,000 km.
The year 2017 Rolls-Royce Ghost was priced at $339,775. Search for 2017 Rolls-Royce Ghosts across the country on Autotrader The average price for similar vehicles is around $150,000.
It’s not going to be easy or cheap to get the vehicles back from the middle Pacific Ocean. The Northern Mariana Islands lie 6,000 miles off the California coast and about 4,000 miles from Hawaii.
The car auction is open until April 11, and includes a 2017 Cadillac Escalade, with less than 42,00 miles, that currently has the highest bid of $13,000.
This isn’t a first time a failed gambling establishment has taken a huge hit on Rolls Royce vehicles.
The 13 Hotel, a similar luxury casino project that had failed, was bankrupt in Macau. Purchased 30 Rolls-Royce Phantoms Before the property opened, they paid $20 million. After the scheme went belly up, the vehicles were sold off for just $125,000 a piece — a more than half-million-dollar loss per car.
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