A Rare Gem of Exceptional Value Is Moonlighting as a Simple Restored Classic

How do you get a luxury yacht worth more than $20 million for less than $6 million? The answer lies in the complicated history of this classic Feadship yacht. A true pedigree pleasure craft with a distinctive past, Nereus had a lot of good luck and bad luck at the same time. While more than one owner believed in its potential enough to invest millions of dollars, somehow, nobody got to enjoy it to the fullest. This is mostly why Nereus is still a bargain despite its remarkable value.

Conventionally, the youngest models on the superyacht market, with their enormous dimensions, fancy tech, and extravagant interior, are the epitome of luxury. Folks who know a thing or two about sailing and classic yachts would tell a different story. Most new builds look atrocious to these people, who'd much rather spend tens of millions restoring old vessels to their original glory. Thanks to owners like these, we can still admire pleasure craft that are decades old, fully operational, and just as comfortable as their contemporary counterparts.

Nereus is one of these rare gems. It launched as Prosit in 1969. At the time, Feadship, which was one of the top superyacht builders of all time, built two yachts simultaneously. One of them was the 37-meter (121 feet) Intent, a classic family boat with spacious cabins and a relaxed interior style.

The other one was the 32-meter (130 feet) Prosit, custom-designed to become the luxury version of a fishing boat. Following the owner's wishes, it boasted a state-of-the-art fishing cockpit with two customized fishing chairs and stainless steel boxes for fish and bait, with their own running water.

Yachting connoisseurs (like the old Prosit's current owner) consider the '60s a golden era for Dutch-based luxury yacht design. That is when Feadship launched a series of boats designed by the world-famous de Voogt naval architects, all sharing a specific bow and elegantly-proportioned silhouette.

Prosit went on to become the first Feadship to cruise across the Atlantic, making it even more special than other '60s models from the same brand. For decades, it stayed away from the spotlight. The year 2014 was a turning point when the classic yacht first began its restoration process. The old Feadship broke records with this also. It was said that the extent and complexity of this restoration were unmatched.

The sad part is that not just one but two owners pumped lots of money into this project, yet none got to see it finalized and enjoy it. Both passed away before the classic Feadship was fully modernized. Industry experts estimate that they spent more than $20 million to restore the old Prosit – a huge sum for a classic vessel.

When its current owner discovered it a couple of years ago, the classic yacht was finally completed, yet drifting away metaphorically, with no one to enjoy all that hard work. It took seven years to restore it, from 2014 to 2021.

At the time of the purchase, it was called Blue. The new owner renamed it Nereus, a name inspired by the Greek mythology. A passionate lover of classic boats and involved in his restoration projects, the new owner matched Nereus with another classic beauty he was restoring simultaneously, named Doris.

Nereus was literally stripped down to bare bones, and completely rebuilt, with interiors refreshed by Dana Duquesne of Yacht Decor Inc. In 2021, it was voted Spectator’s Choice at the Vintage Weekend at Ocean Reef Club in Key Largo, Florida. It also obtained a special status after being awarded the Feadship Heritage Fleet membership. This association brings together owners of registered Feadships of over 30 years old and works like an exclusive club with all kinds of perks for the lucky members.

What is it like to cruise onboard this recognized classic treasure? It boasts a three-cabin layout that can accommodate up to six guests in a master suite, VIP suite, and twin-bed room. The full-beam master suite is entirely custom-made, boasting a king-size bed and a walk-in closet. All cabins were upgraded with en-suite facilities, big TV screens, and entertainment systems.

The elegant teak interior includes a sophisticated main salon with custom-made leather sofas and an open-space dining room. Nereus is perfect for spending lots of time outside. The foredeck reveals cozy, forward-facing sun pads with excellent water views. At the same time, the aft deck offers generous space for socializing and entertainment.

The beautiful sundeck also doubles as a boat deck. When all the toys and tenders are in action, the space is ready to become a party area or an al-fresco dining spot, with enough room for multiple tables and chairs. When it gets chilly, guests can move to the sunroom, a climate-controlled space functioning as a modern lounge area with wonderful panoramic views.

One of the most delightful and rare things about Nereus is that it doesn't even need a crew. With help from an experienced captain, the owner can handle this classic beauty on their own. That's what the current owner has done, taking Nereus from New York to Maryland, for instance, with no onboard crew. Twin Caterpillar engines propel it at 12 knots (13.8 mph/22 kph), with the modern addition of zero-speed stabilizers keeping the ride smooth at all times.

Although that jaw-dropping restoration work that unfolded over seven years is worth more than $20 million, Nereus is currently asking for just $5.9 million. The classic Feadship was restored to a better-than-new condition and was also a unique yacht, to begin with. Hopefully, this special beauty will find an owner who can truly appreciate its value, enjoy it, and keep it in great condition for decades to come.