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Project Y910: Inside the world's largest superyacht listed at auction

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As Y910 prepares to go under the hammer in what will be the largest auction in yachting history , we speak to the team behind the ground-breaking vessel as it lies in Italy awaiting a new owner... 

Selling a yacht at auction might be unconventional but it's not an entirely wild concept. After all, luxury property has been sold in this way for years, and what are yachts if not uber-luxe floating homes. But when you have a 120m ice-classed hull listed at auction with no reserve, it is sure to pique the interest of a few owners.

Lying in Trieste at the Fincantieri shipyard, the yacht, codenamed Yard 910 , is one of the largest conversion projects to date and is soon to be the biggest yacht ever sold at auction . With construction on the hull, superstructure, and most of the crew areas now complete, a new owner will have carte blanche to finish the boat however they wish, be it as a globe-trotting superyacht explorer, research vessel or floating hotel (and there were even talks of turning her into a casino).

Built for the Russian offshore industry in the nineties, she began life as a passenger vessel named Vladimir Chivilikhin and was one of six 90 metre sisterships delivered by Polish shipyard Stocznia Gdynia . While her size and seaworthiness make the vessel an appealing option for a conversion, it was its 1A Ice Class hull that set this particular project apart.

“She was quite ground-breaking at the time in terms of size but also in terms of accommodation because she’s full SOLAS with 36 pax,” explains interior designer, Oliver Stirling. Over 2,000 square metres have been allocated for accommodation alone with an owner's suite that occupies 350 square metres of the sixth deck. “It’s absolutely enormous,” he says. Although the vessel was never really intended for its owner's private use. The conversion was a commercial undertaking from the get-go with the charter market in mind.

Project Yard 910 was the vision of a French shipowner who spied a growing market for luxury experiential cruising. The charter market at the time was dominated by privately-owned vessels bouncing between the Mediterranean and Caribbean with no real business-driven players offering ultra-luxury expedition cruises, which only really existed in the form of smaller, luxury commercial cruise lines.

The idea was to create a new breed of charter by scaling down the cruising model to offer highly exclusive, ultra-bespoke per-cabin charters. Although the concept, the owner tells me, was actually modelled on the small-group private jet tours offered by boutique travel operators such as TCS World Travel or Abercrombie & Kent. These companies had great success in the skies and so the ambition was to see the model set sail on the water.

“[Y910] would have the capacity to charter in “yacht mode”, but part of the operating profile was that it could operate in a hotel mode too. It could even be used by a hotel operator as an extension of its land-based accommodation,” explains Stirling.

The conversion began at the Keppel Singmarine and Damen shipyard in Singapore where the major structural changes were completed. This involved slicing the vessel down the middle and extending the yacht by 13 metres, making room for a large tender garage that runs the entire beam, as well as carving out a distinct canoe stern and a new bow, all while maintaining her ice-class notation.

Naval architect Robert McFarlane , who has been with the project since its inception, worked alongside Cor D. Rover who handled the exterior design. “The design of the boat is purposefully classic. If you do something modern, in 10 years it is already in the past. I wanted something that will be timeless,” the owner says. "The exterior was designed in the spirit of the modern classic cruise liners of the 1960s intentionally re-creating the comfort, luxury, elegance and nostalgia of the heyday of cruise ships. We completely modified the look of the boat. We changed the bow, the stern, and we added a complete brand new aluminium superstructure from the main deck upwards," he adds. 

It was always in the plan to bring the vessel across to Europe for outfitting. Though there were very few shipyards at the time willing, or even able, to take on a project of this scale. Even Lürssen, who today wouldn’t bat an eyelid at a 100m+ vessel, was hesitant. “ ’You don’t think it’s a bit too big?’, they said,” the owner recalls. Italian shipyard Fincantieri, however, with a footing in commercial shipbuilding, seemed a natural fit. Following in the footsteps of 133.9m Serene and 140m Ocean Victory , the project would be the third 100m+ SOLAS-classed vessel to leave the shipyard.

In 2016, McFarlane, Stirling and Fincantieri drafted the outfitting specification for the remaining work – an impressive 300-page document – with two proposals on offer. The first was for the full scope of work while the second involved a 'white wall standard' of finish with furnishing left to the whim of the owner. And with 6,000GT to play with, the possibilities are endless.

The original GA features 1,360 square metres of open deck space with two pools, one jacuzzi and a 170 square metre spa and wellness centre. “She has amazing public spaces with a huge, three-deck-high atrium. There’s a double-height saloon with a gallery that looks down into it - it’s just colossal,” says Stirling. He also points out a cyber lounge that was built into the initial layout, which, he says, was “truly ahead of its time”.

As for her explorer credentials, she has two landing pads, a helicopter lift, garage and refuelling facility, and a range of 10,000 nautical miles. Elsewhere, a central garage has been designed to accommodate four tenders and a submarine together with a moon pool, while a dedicated car garage can house a landing craft to carry SUVs, quad bikes and motorbikes for excursions ashore.

The owner listed the yacht for sale this year with Althaus Luxury Yachting before approaching New York-based auction house Concierge Auctions, which specialises in high-end real estate. “Selling a luxury property in Hawaii is really the same profile,” the owner says. “We are taking a risk, but it’s a good way to get people excited.”

Concierge Auctions then teamed up with online yacht auction platform Boathouse Auctions. The auction market for yachts, according to Jack Mahoney, director of Boathouse Auctions, is “reasonably small on a global basis, but growing". “Having a finite timeline is very helpful. It drives an urgency and it puts a lot of control in the hands of the seller." Joshua Gunsberger, auction sales manager for Y910, agrees. "Giving a sense of urgency is a critical component in making an auction successful." 

A no-reserve auction might seem out of the ordinary for a project of this size, but Y910 is no ordinary explorer. The scale of the conversion and the entrepreneurial vision of its owner make the vessel truly one-of-a-kind. All that remains is to find a new owner to see the project across the finish line.

How does the auction work?

The auction opened in December and will end March 31, 2022 via online marketplace conciergeauctions.com, in partnership with Boathouse Auctions.

Prior to the auction, the prospective bidders can inspect the vessel at any time and registered bidders will have full access to the project’s data room which includes a full condition survey report by Winterbothams and a market study by Bain & Company.

The complete original project team is also available for technical assistance and in an advisory capacity.

Prospective owners are required to fill out terms and conditions, provide proof and funds and place a $100,000 deposit that can be held in escrow. There is a 6% starting bid incentive for those who submit an opening bid ahead of the auction, as well as a 4% co-broke commission.

Bidders and non-bidders will be able to follow the auction across the week in real-time with the Concierge Auctions app.

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A multimillion-dollar superyacht once owned by a Russian oligarch has gone to auction

Dustin Jones

The Axioma superyacht, seen in Gibraltar in March, once belonged to Russian oligarch Dmitrievich Pumpyansky. The vessel was seized last March in accordance with sanctions imposed by Britain and the European Union. It will be auctioned off Tuesday, with the proceeds going to JP Morgan Chase. JON NAZCA/REUTERS hide caption

The Axioma superyacht, seen in Gibraltar in March, once belonged to Russian oligarch Dmitrievich Pumpyansky. The vessel was seized last March in accordance with sanctions imposed by Britain and the European Union. It will be auctioned off Tuesday, with the proceeds going to JP Morgan Chase.

A superyacht once belonging to a Russian billionaire went to auction Tuesday in the British territory of Gibraltar. The vessel, estimated to have a value in the tens of millions of dollars, was seized in March as part of Western sanctions against Russia following the invasion of Ukraine.

Gibraltar's Admiralty Marshal was tasked with appraising and selling the yacht, which received 63 bids, according to court documents. Its official appraised value is "a confidential matter which cannot be disclosed," although outside estimates reportedly place it anywhere from $42 million to $75 million. Details about who ultimately purchases the vessel and for what price will be made public when the transaction is complete.

Measuring 236 feet long and weighing over 1,600 tons, the Axioma is a sight to behold. It can accommodate 12 guests in six cabins — along with a 20-person crew in 12 other rooms — and features a gymnasium, full-service spa, infinity pool and luxury cinema, as stated on the Howe Robinson Partners auction site.

The cost to charter the Axioma for a week runs an average of roughly $500,000 , not including other operating costs, according to Yacht Charter Fleet.

The former owner of the ship is Dmitrievich Pumpyansky, once Russia's largest steel pipe manufacturer and currently worth $2 billion, according to Forbes . Unfortunately for Pumpyansky, he was sanctioned by Britain and the European Union after the invasion.

Other superyachts owned by Russian oligarchs have been detained as a result of the sanctions, but the Axioma is the first to be sold off, the Guardian reported.

Despite calls for the proceeds of the sale to benefit Ukraine, the funds will instead be paid to JP Morgan Chase. According to the Guardian, the international bank had a loan agreement with Pumpyansky's holding company, Pyrene Investments.

However, the sanctions against Russia prevented JP Morgan Chase from accepting payments from the holding company, breaching the agreement, and the bank filed a legal claim to have the vessel seized and sold at auction.

Other superyachts belonging to Russian elites have been detained all over the world — including the Amadea, which was seized in Fiji at the request of the United States in May. That $300 million yacht belonged to Suleiman Kerimov, a Russian gold producer worth over $12 billion, according to Forbes .

The fate of the Amadea is uncertain, however; it, too, could be sold to the highest bidder, which would be in line with President Biden's aims to hold Russian oligarchs accountable for their role in the invasion and, potentially, use the proceeds to aid Ukraine.

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DeCesari 21 Shalimar IV

Description

Built as a custom yacht by DeCesari, Cervia, Italy with 2 x Fiat Aifo 440 HP engines.

Specifications

2013 Yamaha AR 210 – Stk# 40227

2015 sea ray 450 sundancer – stk# 40360, 2019 viking princess v60 – stk#39354, 2015 formula 350 cbr – stk# 40371, 2016 mastercraft x23 – stk# 40290, 2012 regal 1900 es – stk# 40259, 2002 seacraft 25 open fisherman – stk#40374, 2018 charger 210 elite – stk# 40367, 2009 formula 270 bowrider – stk# 40375, 2002 tiara 2900 coronet – stk# 40350, 2023 century coronado 26 dc – stk # 40305, 2017 scout 350 lxf – stk# 40309, 2004 formula 37 pc – stk#40359, 2021 yamaha 212 – stk# 40333, 2014 sea ray 260 sundeck – stk#39929, 1986 sea ray 390 express cruiser – stk#39261, 1990 bayliner 3288 motor yacht – stk#39966, 2023 boston whaler 330 outrage – stk#39874, submit an offer.

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Conditions of Offer:

OFFER PROCEDURES

Offers are accumulated weekly through each Monday at 4:00 PM ET. In the event a particular Monday is a Federal Holiday, the deadline is extended an additional 24 hours. The high offer on a particular vessel is submitted to the Seller for consideration the following business day. The Seller, at its sole option, may accept or reject with or without a counter offer. Responses typically occur within 48 hours, no response constitutes a rejection of theoffer.

Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 1 business day to deposit into National Liquidators escrow account, the greater of 10% of Gross Offer or $1,000.

Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 5 business days to complete any and all conditions listed above in the “Conditions Of Offer”. In any case, any remaining amounts due must be deposited into National Liquidators escrow account, within 5 business days after notification of acceptance of an offer (either verbal or electronic). Successful Bidder’s failure to fund the total offer price within 5 business days after notice of acceptance will result in forfeiture of any deposits. In these instances, the vessel will be placed back into the auction cycle.

After funding the total offer price, Successful Bidder must remove the purchased vessel from National’s storage facility within two business days or make storage arrangements with National. Storage charges will accrue on ALL purchased vessels until each is removed from National’s storage facility. Standard storage rates apply; refer to http://www.yachtauctions.com/services for currentrates.

All vessels are sold AS IS, WHERE IS, with no warranties or representations, express or implied, as to condition or fitness for a particular purpose.

NOTICE REGARDING TITLING OR US COAST GUARD DOCUMENTATION

National Liquidators makes no guarantees, representations or warranties as to title or the ability to document or register the vessel. National Liquidators are acting as a broker only and issues as to title, documentation and registration are between the Buyer and the Seller, owner or lien holder. The required $399.00 administrative fee covers National’s efforts to obtain titling and documentation information from the Seller; it does not include transfer of title or documentation to Buyer. National Liquidators can process transfer of title or documentation to Buyer an additional fee. Buyers that are interested in this service can contact National’s title department for details, including charges. Ohio Law requires National to transfer title (not USCG documentation) directly to Ohio residents only, a $150 fee is charged for this service.

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Purchasers must pay sales tax at the applicable rate in their respective states. Dealers that wish to be treated as tax-exempt are required to provide a state sale tax number, valid marine dealer’s certificate, sign a Resale Certificate or Statement for Exemption of Purchase, and any other required documentation.

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All payments required herein must be in certified funds or bank check drawn on a US bank, wire transfer or cash. Personal checks or credit cards are not acceptable.

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Ferretti Group announces its presence at Moscow Boat Show 2013

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Written by Zuzana Bednarova

The Ferretti Group, one of the world top companies specializing in the design, building and sale of motor yachts, with an amazing portfolio of eight of the most exclusive and prominent brands, is thrilled to announce its participation in the Moscow Boat Show 2013. From 12 to 17 March, two of the Group fleet’s most successful yachts will be presented as absolute premieres for the Russian market: motor yacht Ferretti 530, representing Ferretti Yachts , and the 27-foot Iseo superyacht tender by Riva .

Ferretti 530 Yacht to make her Russian premiere at Moscow Boat Show

This year’s Moscow Boat Show will also offer the Ferretti Group the opportunity to announce all yachting enthusiasts in Russia and Northern Eurasia a new important achievement in its international growth: the renewal of its exclusive dealership agreement for the Russian Federation with its partner Premium Yachts , one of the leading dealers operating in the boating sector in Russia , which will represent the Ferretti Yachts , Pershing , Itama , Bertram , Riva e Mochi Craft and Ferretti Custom Line brands.

The agreement – which was officially announced today during a press conference attended, among others, by Ferruccio Rossi (Ferretti Group’s CEO), Alexey Kurochkin (Premium Yachts’s President), and Stefano Campanelli (Sales Manager for the EMEA area for Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft and Ferretti Custom Line) – is part of Ferretti Group’s strategy for a further expansion on the European markets offering the best short/medium-term growth perspectives, also thanks to the financial soundness regained following the strategic partnership forged with the Weichai Group.

More specifically, the Russian boating market holds a great potential for the Ferretti Group’s development because of the rapid growth of average wealth among the population and an increasing interest for Made in Italy luxury goods, like Ferretti Group yachts.

Through the renewal of the agreement with Premium Yachts, the Group will further strengthen its highly selected distribution network – which currently includes approximately 60 dealers ensuring the best possible customer care in more than 80 countries worldwide – as well as its presence in the traditional EMEA ( Europe , Middle East , Africa ) area, one of the three macro-regions (besides the America and the Asia-Pacific) into which the Group’s sales structure is divided.

Moreover, in a medium/long-term perspective, the Ferretti Group is expecting an increasing interest on the Russian market not only for flying bridge yachts above 70’ in length, but also towards smaller crafts, both flybridge and open/coupé ones, which are particularly suitable for river cruising or pleasure boating in Russia’s large lakes. Consequently, the renewal of the dealership agreement with Premium Yachts also allows to look ahead at the future aiming to conquer new market segments where less competitors are currently present in terms of both products and geographic location.

The press conference, which was held today at the Lotte Hotel in Moscow, had also the objective of introducing attending journalists and yachting enthusiasts to the main new products launched by the Ferretti Group over the last few months, namely: motor yacht Ferretti 870 , Ferretti 690 yacht , and the project of the new flagship Ferretti 960 superyacht for the Ferretti Yachts brand; luxury yacht Pershing 82 ’ and superyacht Pershing 108’ New Edition for Pershing; Riva 63’ Virtus and the project of the new Riva flagship, 122’ Mythos yacht , as well as the entire range of the Itama, Bertram and Mochi Craft brands.

The yachts launched over the last few months by CRN – the Group’s brand specialising in the construction of steel and aluminium yachts between 40 and 90 metres – were also presented during the conference: the two superyachts: CRN superyacht Jade (60 metres long) and CRN mega yacht Chopi Chopi (80 metres long), the latter being one of the largest pleasure vessels ever built in Italy and the largest one ever built by the Ancona-based shipyard.

“The renewal of our dealership agreement with an important partner like Premium Yachts – which has worked on the Russian market for almost 10 years and can boast an outstanding product knowledge and an excellent local market penetration – and the presentation of the Group’s latest models are an integral part of our development strategy on the EMEA markets offering the best growth perspectives in the short-medium term,” stated Ferruccio Rossi, Ferretti Group’s CEO. “The Moscow Boat Show 2013, which has now reached its sixth edition, will extend over approximately 45,000 square metres this year and will be attended by more than 350 international boating companies. This Show represents an interesting business opportunity for us and an unmissable event in terms of visibility, since we are identifying a considerable growth potential in this area thanks to the timeless attractiveness of our products – true ambassadors of Made in Italy production all over the world”.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Ferretti Group announces its presence at Moscow Boat Show 2013".

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65m Feadship superyacht PROMISE.D delivered

Discover our Top 10 brand new yachts available for charter worldwide this year

Florida charter yacht REAL SUMMERTIME offering 10% discount

Discover summer in New England aboard a luxury charter yacht: Escape to this beautiful northeast corner of the USA

Looking ahead to the 2024 MYBA Charter Show in Genoa

Last minute yacht charter deals in the Bahamas

49m sailing yacht ANIMA MARIS is offering discounted rates for the remaining summer weeks in Croatia