The clock is ticking on the first sale of a Russian-owned, seized superyacht: the gorgeous $75 million superyacht known as Axioma. Interest in it is very high, with millionaires from all over the world making inquiries into it.
Not that this should come as a major surprise, but even rich folk love a good bargain. And a bargain is exactly what they’re smelling right now, with Axioma on the auction block: the superyacht was seized in Gibraltar in March this year after its direct beneficiary was included on sanctions lists. However, even though steel and oil billionaire Dmitry Pumpyansky, the owner, is believed to be one of Putin’s closest associates, his Axioma was seized because he defaulted on a loan from J.P. Morgan.
Axioma is being sold off by Gibraltar so J.P. Morgan can collect the $21.5 million payment it’s due, and current sanctions against Russian oligarchs are the means to make that happen. The superyacht is selling as is, where is, and with no reserve, with various trade publications speculating that it might sell for as little as $21.5 million – so basically for peanuts.
Millionaires the world over believe it, too, to a certain extent. Nigel Hollyer, broker to the Admiralty marshal of the supreme court of Gibraltar, who is leading the auction, tells the Guardian that interest in the vessel has been surprisingly high. More than 30 people had flown in to see the superyacht by last weekend, in what Hollyer describes as an “unexpected late surge by prospective buyers.” Even more are expected today and all the way through to the final hours of the auction. The hammer drops on August 23.
“They are people from across the world,” Hollyer explains. “They are people who own or have owned boats of similar size, and have been attracted to this boat because of the judicial sale process – they are convinced they’re going to get a bargain.”
The Guardian makes a good point of stressing that the proceeds of the sale will go to J.P. Morgan and not to the people of Ukraine – meaning the very people who are directly affected by Putin’s decision to invade their country, and indirectly by billionaires like Pumpyansky, who financially back Putin up.
J.P. Morgan would not comment on the sale of Axioma except to say that it’s already funding refugee assistance programs. Meanwhile, Pumpyansky is not even confirming that the superyacht is his.
Prior to being seized, Axioma was a very popular charter vessel that was commanding over $650,000 a week without fuel and expenses. Built at the Dunya Shipyard in Turkey and delivered in 2013 (under the name Red Square), the 236-foot (72-meter) vessel offers accommodation for 12 guests and 20 crew and luxury amenities like a pool, a jacuzzi, 3D private cinema, and a garage packed with water toys. With its 2020 refit, it received a turquoise paintjob on the hull that makes it an unforgettable appearance.
Axioma is being sold off by Gibraltar so J.P. Morgan can collect the $21.5 million payment it’s due, and current sanctions against Russian oligarchs are the means to make that happen. The superyacht is selling as is, where is, and with no reserve, with various trade publications speculating that it might sell for as little as $21.5 million – so basically for peanuts.
Millionaires the world over believe it, too, to a certain extent. Nigel Hollyer, broker to the Admiralty marshal of the supreme court of Gibraltar, who is leading the auction, tells the Guardian that interest in the vessel has been surprisingly high. More than 30 people had flown in to see the superyacht by last weekend, in what Hollyer describes as an “unexpected late surge by prospective buyers.” Even more are expected today and all the way through to the final hours of the auction. The hammer drops on August 23.
“They are people from across the world,” Hollyer explains. “They are people who own or have owned boats of similar size, and have been attracted to this boat because of the judicial sale process – they are convinced they’re going to get a bargain.”
The Guardian makes a good point of stressing that the proceeds of the sale will go to J.P. Morgan and not to the people of Ukraine – meaning the very people who are directly affected by Putin’s decision to invade their country, and indirectly by billionaires like Pumpyansky, who financially back Putin up.
J.P. Morgan would not comment on the sale of Axioma except to say that it’s already funding refugee assistance programs. Meanwhile, Pumpyansky is not even confirming that the superyacht is his.
Prior to being seized, Axioma was a very popular charter vessel that was commanding over $650,000 a week without fuel and expenses. Built at the Dunya Shipyard in Turkey and delivered in 2013 (under the name Red Square), the 236-foot (72-meter) vessel offers accommodation for 12 guests and 20 crew and luxury amenities like a pool, a jacuzzi, 3D private cinema, and a garage packed with water toys. With its 2020 refit, it received a turquoise paintjob on the hull that makes it an unforgettable appearance.