There are all types of world records, from the most impressive to the kind you wouldn't tell your mother about. This one falls in the latter category, assuming a disgraced billionaire would ever want to call up mom and let her know that his megayacht was about to be force-sold at auction.
Royal Romance, once among the world's most impressive superyachts both in terms of size and features, is about to set another world record – though, this time, it's not of the kind you brag about. Royal Romance, a 2015 Feadship fully custom superyacht, will sell at auction after it was seized in 2022, becoming the first vessel in the world to change hands for the benefit of Ukraine.
With the Russian invasion of Ukraine in February 2022 came a set of international sanctions that aimed, perhaps idealistically so, to discourage President Putin from pursuing the war by cutting off the cash flow from his associates. This resulted, to date, in countless pieces of real estate, luxury assets like superyachts and megayachts, custom vehicles and private jets, being seized by third-party countries because the owner was known for or suspected of having ties with the Kremlin.
The vast majority of these assets remain in custody, stuck in legal limbo because there's no precedent for something like this and, making matters worse, without a clear way of establishing ownership. Although the initial plan was to sell these assets off and send the cash to Ukraine, only one superyacht was sold to date, and the Ukrainian people saw exactly zero cents from it.
Photo: ARMA
Royal Romance will change that.
The superyacht, delivered new to Viktor Medvedchuk, a billionaire Ukrainian lawyer and known Putin associate living in exile in Russia, was seized in Croatia at the beginning of that year. It had recently arrived in the country to undergo repairs and was seized on behalf of the Ukrainian government, though U.S. agents took part in its capture. Medvedchuk has been on sanctions lists in the U.S. since 2014 for fraud.
In December 2022, Ukraine's Asset Recovery and Management Agency (ARMA) announced that Royal Romance would be sold at auction and that the money raised would become aid towards Ukraine. The value of the superyacht was estimated at around €200 million, which is approximately $220 million at the current exchange rate.
In mid-November 2023, after months of navigating the complex and murky legal waters of international seizures, ARMA announced that Royal Romance marks "the first time in Ukraine's history that the government has regulated the sale of confiscated property abroad." In layman's terms, the state is selling it off.
Three international auction houses have already shown interest in the vessel, which is expected to fetch at least $200 million when the hammer drops.
Photo: ARMA
A spectacular build, a controversial owner, and an auction that may have already happened
Feadship delivered Royal Romance in 2015, with exterior design and naval architecture by Feadship and interior design by Seymour Diamond and the original owner, the "dark prince of Ukrainian politics," Medvedchuk himself.
With 92.5 meters (303.5 feet) in total length, Royal Romance skirts the megayacht category, but it definitely has the amenities and luxury features that grant it access inside with the "big boys."
It has four decks but six levels and offers accommodation for 14 guests across seven cabins and a crew of 22. It was a custom build for the owner and was never offered up for charter, which also makes it one of the most mysterious presences on this segment of the market – not at all a small thing, given its size.
Photo: ARMA
Amenities include a gigantic pool with a waterfall feature, a cinema, bars and lounges, a gym and wellness area, a spa and a beauty salon, and "about 50 multi-purpose rooms" in total. Royal Romance has packed garages for family-oriented cruises, lavish finishes for fancier soirees, and is perfectly capable of maxing out at 16 knots (18.4 mph/29.6 kph) thanks to twin MTU engines.
Medvedchuk, the original and sole owner, is now in exile in Russia since late 2022, when he was included in a prisoner swap. Prior to that, he'd been charged with treason in his home country and put on house arrest before he escaped and was captured again. Putin is the godfather of his daughter, and that alone should speak volumes about the kind of relationship they have without getting into too many details.
But here's the strange bit about the news of the sale of Royal Romance: rumor has it that it happened as early as August 2023, and, believe it or not, the new owner is a Russian gentleman. Superyacht vlogger eSysman claims to have it on good – but unverifiable – authority that the sale went through last summer, which, if true, makes ARMA's announcement very strange.
ARMA says that the details of the auction will be announced soon, which means it's only a question of time before this superyacht-shaped enigma unravels.
Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends. Full profile
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