Photo: Hamilton Marine
One of the most beautiful Feadships in its size category, the fascinating Drizzle became the object of a secretive sale and changed hands for the first time in more than a decade.
Whoever says that money can't buy time should think twice. After commissioning a stunning bespoke superyacht in his '70s and enjoying it for more than a decade, this 88-year-old billionaire is ready to enjoy a new luxury toy that's even bigger and more extravagant, which meant that he had to part with the previous one. We’re talking about a famous mogul and a famous superyacht – Amancio Ortega was once the third richest man in the world, and the 69-meter (226 feet) Drizzle was one of the most beautiful bespoke superyachts exclusively meant for private use.
The superyacht market is not only extremely dynamic but also a place of high contrast. A stunning classic masterpiece could be sold at a ridiculously low price, while a rather basic motor yacht could fetch millions with the help of some smart upgrades. Plus, even the wealthiest superyacht owners admit that this is a highly expensive hobby that can end up becoming a black hole.
At first glance, Drizzle's final asking price of €63 million ($67.7 million) sounds astonishing, especially for a pleasure craft that's 12 years old. Still, this is roughly two-thirds of what the Spanish fashion mogul originally paid for it. Ortega commissioned this Feadship in 2008 for allegedly €95million (more than $100 million today) and took delivery of it in 2012.
When he decided to put Drizzle on the market a decade later, it became one of the top 25 most expensive superyachts at the time, with an asking price of approximately €76 million ($81 million today). It took some time to finally sell it, compared to other famous superyachts that get snatched in record time and additional price cuts. In the end, Drizzle's final price was almost $20 million lower compared to the 2021 price and $30 million lower than its original value.
The huge price drop is even more puzzling considering that Drizzle had been refitted recently, in 2019. The refit included a complex repainting of the exterior for a refreshed look and even a brand-new full-width swim platform with a shower and a retractable swim ladder. Plus, as you would expect with any billionaire's luxury toy, the 2012 Feadship was kept in excellent condition throughout the years.
Drizzle was sold discretely by the Mallorca-based agency originally appointed by the fashion mogul in 2021, and both the new owner and the buying broker chose to remain anonymous. Rumor has it that Drizzle is now in the hands of a Russian millionaire, which might explain the discrete sale. What's certain is the superyacht's new name, Vassa, under which it will continue to cruise away from prying eyes.
The superyacht market is not only extremely dynamic but also a place of high contrast. A stunning classic masterpiece could be sold at a ridiculously low price, while a rather basic motor yacht could fetch millions with the help of some smart upgrades. Plus, even the wealthiest superyacht owners admit that this is a highly expensive hobby that can end up becoming a black hole.
At first glance, Drizzle's final asking price of €63 million ($67.7 million) sounds astonishing, especially for a pleasure craft that's 12 years old. Still, this is roughly two-thirds of what the Spanish fashion mogul originally paid for it. Ortega commissioned this Feadship in 2008 for allegedly €95million (more than $100 million today) and took delivery of it in 2012.
When he decided to put Drizzle on the market a decade later, it became one of the top 25 most expensive superyachts at the time, with an asking price of approximately €76 million ($81 million today). It took some time to finally sell it, compared to other famous superyachts that get snatched in record time and additional price cuts. In the end, Drizzle's final price was almost $20 million lower compared to the 2021 price and $30 million lower than its original value.
The huge price drop is even more puzzling considering that Drizzle had been refitted recently, in 2019. The refit included a complex repainting of the exterior for a refreshed look and even a brand-new full-width swim platform with a shower and a retractable swim ladder. Plus, as you would expect with any billionaire's luxury toy, the 2012 Feadship was kept in excellent condition throughout the years.
Drizzle was sold discretely by the Mallorca-based agency originally appointed by the fashion mogul in 2021, and both the new owner and the buying broker chose to remain anonymous. Rumor has it that Drizzle is now in the hands of a Russian millionaire, which might explain the discrete sale. What's certain is the superyacht's new name, Vassa, under which it will continue to cruise away from prying eyes.
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