Photo: Instagram/yachtslife
If 2022 was the year of the great Russian-owned superyacht saga, when the whole world watched as they tried (and some succeeded) to hide away from authorities, 2023 is the year of the endless legal battles that ensued. One of the most infamous of these superyachts is currently at the center of a complicated legal process with no positive outcome in sight.
The Antigua and Barbuda officials are trying to get rid of Alfa Nero. This spectacular superyacht is costing them nearly $30,000 per week. They got stuck with it simply because that is where the vessel was located at the beginning of 2022 when the sanctions against Russian oligarchs were issued following the invasion of Ukraine.
The yacht was ordered to stay where it was and hasn't changed its status since then. Like other pleasure craft in a similar situation but in different locations, Alfa Nero is a very costly burden.
Things seemed to take a positive turn when none other than former Google CEO Eric Schmidt became the highest bidder during the auction that took place earlier this year. However, a new plot twist is complicating things. The local media in Antigua reported that the government might not be able to grant Alfa Nero a free title.
What this means is that somebody could potentially claim ownership of Alfa Nero later on. It looks like Schmidt isn't willing to commit to this ultra-luxurious purchase without the guarantee of a free title. The risk is real, considering that Yulia Guryeva-Motlokhov, the daughter of a sanctioned oligarch and the original owner of the yacht on paper, fought hard to get it back and is still not giving up.
If Schmidt drops it, Alfa Nero could end up in the hands of the second-highest bidder. Money-wise, the difference between the two offers is minimal. Either way, the luxurious yacht would be sold for pennies. Although it was formally estimated to be worth $115 million, officials agreed to a minimum sale price of just $60 million, less than half of its actual value.
Schmidt was reportedly willing to pay $67.6 million for it two months ago. Now, it could be auctioned off for $66 million. And this isn’t even the worst-case scenario. The third bidder allegedly offered only $25 million, much less than the minimum required. In other words, if the second bidder also backs down, Alfa Nero might be back in an endless legal loop.
Alfa Nero is a 2007 Oceanco flaunting nearly 270 feet (82 meters) of extreme opulence. Designed by the prestigious Nuvolari & Lenard and Alberto Pinto, it boasts a stunning infinity pool – one of the longest swimming pools ever featured on a superyacht, and also a convertible one.
The yacht was ordered to stay where it was and hasn't changed its status since then. Like other pleasure craft in a similar situation but in different locations, Alfa Nero is a very costly burden.
Things seemed to take a positive turn when none other than former Google CEO Eric Schmidt became the highest bidder during the auction that took place earlier this year. However, a new plot twist is complicating things. The local media in Antigua reported that the government might not be able to grant Alfa Nero a free title.
What this means is that somebody could potentially claim ownership of Alfa Nero later on. It looks like Schmidt isn't willing to commit to this ultra-luxurious purchase without the guarantee of a free title. The risk is real, considering that Yulia Guryeva-Motlokhov, the daughter of a sanctioned oligarch and the original owner of the yacht on paper, fought hard to get it back and is still not giving up.
If Schmidt drops it, Alfa Nero could end up in the hands of the second-highest bidder. Money-wise, the difference between the two offers is minimal. Either way, the luxurious yacht would be sold for pennies. Although it was formally estimated to be worth $115 million, officials agreed to a minimum sale price of just $60 million, less than half of its actual value.
Schmidt was reportedly willing to pay $67.6 million for it two months ago. Now, it could be auctioned off for $66 million. And this isn’t even the worst-case scenario. The third bidder allegedly offered only $25 million, much less than the minimum required. In other words, if the second bidder also backs down, Alfa Nero might be back in an endless legal loop.
Alfa Nero is a 2007 Oceanco flaunting nearly 270 feet (82 meters) of extreme opulence. Designed by the prestigious Nuvolari & Lenard and Alberto Pinto, it boasts a stunning infinity pool – one of the longest swimming pools ever featured on a superyacht, and also a convertible one.
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