A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February. The Axioma was impounded by the Gibraltar authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan. The 72.5-metre vessel was auctioned by the Gibraltar Admiralty Court through a system of closed bids to be sent electronically by midday on Tuesday, a court spokesman said. The court added that 63 bids had been submitted for consideration, with the selection process expected to take 10 to 14 days.
There was an “unexpected late surge by prospective buyers” around the world for the vessel, Nigel Hollyer, broker to the Admiralty Marshal of the Supreme Court of Gibraltar who led the auction, told the Guardian newspaper last week.
