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$75 Million Axioma Becomes the First Seized Superyacht to Sell at Auction, Without Reserve

Since the start of the war in Ukraine in February this year, billions of dollars worth of luxury assets have been seized or arrested from Russian businessmen believed to be allies of Russian President Putin. As of the time of press, all these assets remain in custody with local authorities but cannot be monetized.
$75 million superyacht Axioma will sell at auction on August 23 without reserve, "as is, where is" 22 photos
Photo: Yacht Charter Fleet
Superyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soonSuperyacht Axioma, one of the first superyachts seized from Russian oligarchs, will sell at auction soon
All except one. Axioma, a gorgeous, instantly-recognizable $75 million superyacht delivered in 2013 and owned by gas and steel billionaire Dmitry Pumpyansky, will sell at auction on August 23, 2022, Boat International informs. The Admiralty Court has set the date and determined that the vessel will change hands without reserve, in a single-day auction event.

Axioma was arrested in Gibraltar at the end of March, due to a standing loan due to J.P. Morgan. The international management company that manages Axioma had defaulted on a $12.5 million loan to J.P. Morgan, which alerted the authorities as soon as Pumpyansky was included on sanctions lists – and revealed to be the direct beneficiary (i.e. owner of the vessel).

Last month, the court in Gibraltar ruled that Axioma will sell at auction to allow J.P. Morgan to recover the loan. The fact that it will sell at no reserve further fuels previous reports that it will probably change hands well below its current value, which is estimated at $75 million. The auction will be on an “as is, where is” basis.

Axioma is one of the few Russian-owned superyachts to be offered for charter when not in use by the owner, and it was a very popular platform for it, too. Offering accommodation for 12 guests and a crew of 20, 236-foot (72-meter) yacht offers amenities like a jacuzzi on the sun deck, a pool, owner suite with private deck, 3D private cinema, a packed garage of water toys, and a multitude of lounge areas, both indoors and outdoors.

Built by Dunya Shipyard and delivered under the name Red Square, it was most recently refitted in 2020, when it also received the striking turquoise-blue paintjob on the hull.

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About the author: Elena Gorgan
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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.
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