A patrol vessel disposed of by the Naval Service for €110,000 just seven weeks ago is now on sale in the Netherlands for more than six times the price.
The LÉ Aisling, one of the most famous ships in modern Naval Service history, was sold at public auction to a Dutch ship broker in March.
Now, the vessel is being offered for sale from a Rotterdam shipyard for €685,000 - with the new owners warning that, as improvements and upgrades are made to the vessel, the price will inevitably go up.
However, Naval Service sources warned there was no guarantee the former Irish flagship would sell for the specified amount.
The LÉ Aisling was decommissioned from fleet service last year after steaming 600,000 nautical miles over a 36-year service career.
The vessel was sold by public auction in Carrigaline, Co Cork.
Auctioneer Dominic Daly said the LÉ Aisling represented a unique purchase despite the recent difficulties in the global shipping sector.
Netherlands ship broker Dick van der Kamp bought the ship for €110,000 with just the second bid at the auction. There was only one other bidder.
The vessel sold for roughly one-third the €320,000 the LÉ Emer made at public auction almost four years ago.
Mr van der Kamp acknowledged at the time that the purchase was a gamble and that the market for specific types of ships was quite depressed.
"I don't know yet [what will happen to it]. It might be converted as a private yacht; it might be used as a guard ship," he said. The vessel is berthed in Rotterdam and is sold as being: "In very good condition. Price will go up as owners will spend money on further improvements. Better be quick!"