In the wake of the bankruptcy and closure of the Imperial Pacific Resort Hotel in Saipan, the auctioning off of its assets has commenced with a plethora of deals on the table.
One of the most noticable items up for auction is a pristine 2017 Rolls-Royce Ghost, which sits dauntingly at the entrance of the unsuccessful Imperial Pacific Saipan casino resort. The bidding for this splendid vehicle currently stands at $21,000, however, the lucky winner will have to consider the expense of shipping it back from the remote Northern Mariana Islands.
Imperial Pacific International (IPI), a company rooted in Hong Kong and under the control of Chinese billionaire Cui Lijie, has found itself entangled in a legal conflict regarding the division of the capital of the Northern Mariana Islands. This US overseas commonwealth was originally the intended site for a proposed $3.9 billion luxury casino resort.
Cui, who accrued her wealth as a pioneering investor in the Macau junket firm Suncity, has experienced a tremendous financial downfall from her resort venture in Saipan. With the U.S. territory owed millions in unpaid licensing fees and regulatory duties, IPI has proposed a $31 million separation fee to the Northern Mariana Islands government to reconcile these debts.
While these matters are being handled, the island’s Clear Management Group – a strategic advisory firm focusing on entertainment and hospitality – has been appointed the overseer of the hotel’s assets. This has given them the responsibility of auctioning the resort’s properties, most remarkably the luxury vehicles and an elaborate dragon art piece comprised of over 2.5 million Swarovski crystals.
Clear Management has initiated the auction of the Imperial Pacific assets, with the crystal dragons, being the standout item. This stunning piece served as the centerpiece of the impressive casino hotel lobby and is a 200 feet long, 40-ton spectacle adorned with gemstones and hanging proudly in the resort’s atrium.
Deeply rooted in Chinese mythology, the dragons, quarrelling over a flaming ball symbolizing spiritual power, prosperity, and immortality, were designed by the Lasvit, an internationally famous art maker based in Manhattan. With color-changing lights cast upon them, this high-tech design seamlessly blends glassmaking and metalwork. Starting at $100,000, bids for the piece are being accepted until August 22, 2024.
Automotive enthusiasts may develop an interest in the Imperial Pacific’s vehicle auction, which includes two 2017 Rolls-Royce Ghosts, each flaunting extended wheelbase configurations for additional legroom and less than 6,000 miles. The current bids for these cars hold at $21,000 each, significantly below the base price of $339,775.
Nonetheless, potential buyers should take into account the logistical challenge and associated cost of transporting the vehicles from the Pacific back to mainland United States, a significant distance away. The auction runs until April 11th and includes a luxury 2017 Cadillac Escalade with under 42,000 miles that presently sees a leading bid of $13,000.
This isn’t the first instance of valuable vehicles finding themselves on the auction block due to failing casino ventures. A similar scenario unfolded at the bankrupt 13 Hotel in Macau, where 30 Rolls-Royce Phantoms were auctioned for only $125,000 each, following a futile luxury casino project – an unfortunate transaction that resulted in losses surpassing half a million dollars per car.
