Howe Robinson Partners’ auction of a seized Russian oligarch’s superyacht in Gibraltar has attracted 63 bids, the broker has confirmed.
The Maltese-flagged 1,620-gt motor yacht Axioma (built 2013) was put up for sale after JP Morgan Chase & Co called in a €20.5m ($20.4m) loan tied to the vessel.
It is reportedly the first superyacht to be publicly auctioned since Russia’s invasion of Ukraine pushed authorities to freeze luxury vessels in ports around the world.
The Office of the Admiralty Marshal in Gibraltar refused to detail the value of the bids for the yacht, reported the UK’s Guardian newspaper.
“The successful bidder will be selected by the Admiralty Marshal, but details of the bidder and the value of the offer will remain confidential,” the court said in a statement.
“Details about the sale value of the vessel will be made available once the transaction has been completed which could take place in approximately 10 to 14 days.”
Prospective buyers hailed from countries including the US, Canada, Britain, Italy, and Turkey, Howe Robinson broker Nigel Hollyer told The New York Times.
Industry sources say the sale is likely to set a benchmark for future auctions of assets seized following Moscow’s invasion of Ukraine.
TradeWinds has previously reported that ownership of the yacht, which was built at Turkey’s Ursa Dunya, is linked to Russian billionaire businessman Dmitry Pumpyansky.
The Axioma was arrested upon arrival in Gibraltar in March after Pumpyansky, who guaranteed the loan, was added to the UK sanctions list because of his close connections to Russian President Vladimir Putin.
VesselsValue put a $75m price tag on the Axioma at the time of its arrest.
The ABS-classed vessel, which has a range of 5,000 nautical miles (9,260 km), can accommodate 12 guests in six cabins.
Howe Robinson Partners has acted as the exclusive broker for the Admiralty Marshal, Supreme Court, Gibraltar since 1997.
