The Italian Navy is co-hosting what could be described as a secondhand ship show in Italy next month as it retires dozens of seasoned vessels and brings new ships into service.

Officials from 11 navies around the world are due to attend the event at the Navy’s La Spezia base May 24-27 to scout for bargains among various classes of vessel, which Italy is hoping to make some much needed money by selling.

Also present at the event will be Italian companies offering their services for refits and upgrades to give the vessels a technological makeover.

The Seafuture & Maritime Technologies 2016 event has been running for five years, but this is the first time the Navy has stepped in as an official partner, according to the organizer.

“Up until now the Navy has negotiated the sale of its vessels on a one-to-one basis, so this is a new approach,” said Laura Parducci, an official with the local chamber of commerce, which organizes the event. “People coming will be able to sign deals there and then."

The Navy’s decision to put its ships in the shop window at La Spezia is due to the large number it is phasing out. After investing heavily in fleet renewal in the 1970s, a number of the vessels bought at the time are now due for retirement.