It sounds like a James Bond mission, but Project Y910 is actually one of the biggest superyachts in the world. And next month the 393-foot-long ship will be auctioned off
The mega-yacht, which has already been listed on the market for 25 million euros (US $ 29 million), will be sold to the highest bidder without reservation, meaning there is no bidding for it. ‘defined or expected opening.
“We have sold some very important things, but this is a very special opportunity,” said Charlie Smith, strategic advisor at Concierge Auctions, which is partnering with Boathouse Auctions to sell the vessel.
More: The Hawaiian Estate built by Sylvester Stallone is as close to the beach as it gets in Kilauea
Selling yachts is a first for Concierge Auctions, which typically auction luxury real estate. “But the similarities are all there,” Mr. Smith said. “We do high value real estate, and it’s a houseboat.” The seller is a “successful European industrialist,” said Mr. Smith. Mansion Global could not identify the vendor.
Auctions are held in the online auction only from November 11-23.
The ship has 18 cabins that can accommodate up to 36 guests, as well as quarters that can accommodate up to 50 crew members. “It has all the amenities you want,” said Jack Mahoney, founder of Connecticut-based Boathouse Auctions. There are also two swimming pools, two helipads, a helicopter hangar, six garages, an owner’s suite, and two VIP cabins.
The buyer could be “an individual looking for one of the world’s largest superyachts, or could be an institution or a shipping company,” said Mahoney. The ship has an “ice class” hull, which allows it to navigate in frozen waters, said Mahoney.
Built in Poland in 1990, the yacht was designed by Cor D. Rover, who is considered the Frank Lloyd Wright of naval architecture, according to Mahoney.
The vessel has been refitted and enlarged from its original 295 foot design; the fairing was designed by naval architect Robert McFarlane of McFarlane ShipDesign with equipment from Italian shipbuilding giant Fincantieri. “This is a very high quality construction,” said Mr. Mahoney. The vessel is currently moored at the Fincantieri shipyard in Trieste, Italy.
Demand for megayachts has skyrocketed during the pandemic, Mr Mahoney said. “It’s been high since we came out of the 2008 financial crisis, and the market really rebounded around 2012-13,” he said. “The Covid amplified it. There has been a total explosion across the entire yacht and superyacht ecosystem.
F Botticelli’s “The Man of Sorrows” Expected to Sell for Over $ 40 Million at Sotheby’s
While a refit could take around 18 to 20 months, Mr Mahoney said, building a superyacht from scratch could take more than four years. “Everyone from brokers to shipyards to builders are at their peak,” said Mr. Mahoney. “People thirst for isolation, to get away from it all and just be with family and friends. It is unprecedented. It really is a seller’s market.
According to the London-based merchant site Boat International, the superyacht market actually saw a “slight decline” in 2020, with 341 yachts sold compared to 404 in 2019, a total of £ 1.86 billion (£ 2.5 billion). US dollars) this year compared to £ 2.46 billion. last year at asking prices. The most expensive superyacht sale of 2020 was a 240-meter yacht called Hasna with an asking price of € 92.5 million.
This article originally appeared on Global Manor.