Bermuda Government coffers will be a little richer come the end of the month, as HM Customs are set to auction off a yacht which was abandoned locally.

Tender bids have been invited on the Allons-Y- a 56-foot ketch.

Yesterday, Assistant Collector of Customs Larry Conn told The Royal Gazette the sailboat came into the Island last summer.

It was damaged during a storm, however, and needed to undertake repairs.

Mr. Conn said the boat's Canadian owner was granted an extension of stay in Bermuda to have the repairs done and the boat was placed with a boatyard.

But one year later, neither Customs nor the boatyard can find the owner and the boat has become de facto property of the Crown.

Mr. Conn said the owner's extension ran out in April 2002 and after it went 30 days without being reclaimed, the decision was made to sell.

"We have no use for it," he said. "It's better to sell it on so it does not end up taking up space at Dockyard."

Mr. Conn said the yacht is being sold "as is" and will require some additional repairs before it is seaworthy.

Although, it may prove a bargain for one hopeful boat-owner, Mr. Conn said Customs does have a minimum bid in mind for the vessel.

"We won't be selling it for $5," he said.

The boat can be viewed today at St. George's boatyard between 9 a.m. and 3 p.m. and bids must be submitted to HM Customs no later than 5 p.m. on July 24. Tender forms can be collected from Customs at 40 Front Street in Hamilton.