Even billionaires love a good bargain, and the sale of the megayacht Kismet, while the biggest of the year so far, is just that: a good bargain. After a couple of years on the market, the spectacular Lurssen vessel sold after a $60 million discount on the initial asking.
Kismet is a 2014 delivery that set several records for the industry and a most impressive megayacht that stands out for both size and amenities even years after its delivery. The original owner, billionaire Shahid Khan, was deeply involved in the development and design, and it translated into an even bigger boat that Lurssen had initially agreed to build.
A couple of years ago, Khan listed Kismet for sale. At 312 feet (95 meters) and 2,978 GT spread across five decks and asking over $220 million, it was a tough bargain even for a billionaire, as it would soon prove. But earlier this year, price dropped by almost $60 million, and it probably played a part in securing an owner almost right away.
According to one report, another failed deal also played a very important part. Kismet's new owner is former Google exec Eric Schmidt, whose net worth is estimated at over $20 billion and who, as it just so happens, had just been frustrated by another superyacht deal.
Earlier this year, Schmidt was declared the winning bid for Alfa Nero, an Oceanco vessel completed in 2007 and owned, until recently, by Russian oligarch Andrey Guryev. Alfa Nero has spent the past year and a half moored in Antigua and Barbuda, where it was seized within weeks after Guryev's inclusion on international sanctions lists.
Photo: Oceanco (Composite)
Estimated at $120 million, it received an $81 million valuation from the state when it was force-sold because monthly expenses had ballooned and were taking a toll on the state purse. Schmidt won the bidding war with a bid of just $67.7 million, so he was looking at a brand new boat at half its build price.
Except that he was never able to take delivery of it. The auction came to a halt when Guryev's daughter filed papers claiming she was the direct beneficiary of Alfa Nero. Facing the prospect either of a very long wait or of getting a boat riddled with debt, Schmidt backed down. A second bidder reportedly did the same.
Billionaires may be human, but they're not regular folk on most other considerations. Schmidt washed out the bad taste of disappointment in the frustrated deal with a deal with a bigger, better, and more expensive vessel. Details of the deal have not been made public, and they probably never will; this is not a kiss-and-tell kind of business environment if there ever was one.
Kismet was scheduled to make an appearance at the 2023 Monaco Yacht Show earlier this month, where viewings and extra media coverage would have helped secure a buyer faster. It's since been pulled from the public schedule.
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
Would you like AUTOEVOLUTION to send you notifications?
Google News