Department of Defence officials and auctioneer Dominic Daly expressed disappointment the ship fetched much less than hoped, but maintained it was down to depressed market conditions.
The successful bidder was Dick Van Der Kamp, who has run a shipping sales company in Holland for the past 29 years.
He viewed the vessel only hours before the auction took place yesterday at the Carrigaline Court Hotel in Co Cork.
When Mr Daly started the auction he did not put a reserve price on the vessel, which was one of the first on the scene of the Air India disaster off the west Cork coast in 1985.
He kicked off asking for “realistic bids” and got one for €100,000. Several times Mr Daly looked for a better offer, before adjourning the auction for a couple of minutes to talk to Department of Defence officials outside the room.
Mr Daly returned to say LÉ Aisling “is in particularly good condition and has a lot of extras onboard”.
While silence followed, he signalled that he would ask three more times for a higher bid and if he did not get one he would let it go for €100,000.
The Dutch businessman then upped the bid by a further €10,000 and the initial bidder did not respond.
Mr Van Der Kamp said he will speak to the Port of Cork authorities as soon as possible about towing the ship back to his dockyard in the Netherlands.
When asked if he has picked up a bargain, he said the ship market has dropped considerably in recent years.
“I have bought ships and thought I got them at a bargain and it wasn’t. This is a gamble. The market is so depressed,” said Mr Van Der Kamp.
He said he will try to identify a potential client for the 35-year-old vessel which could possibly be converted into a luxury yacht.
He said he had often had ships for three years before managing to sell them on.
“You have to have patience in this business,” Mr Van Der Kamp added.
LÉ Aisling’s sister ship, LÉ Emer, fetched €320,000 when it was sold at auction in 2013 and is being used by the Nigerian navy.
LÉ Deirdre was sold in 2001 for £190,000 (€240,000) and was converted into a yacht.