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.
