28 Sep, 2022 @ 18:07
1 min read

Gibraltar authorities auction former Russian yacht for cut-price £35 million after March seizure

Charter Axioma Yacht 1

A MYSTERY buyer has paid the Gibraltar Admiralty £35 million (US$ 37.5 million) for the ‘My Axioma’ luxury yacht formerly owned by a Russian billionaire.

Gibraltar’s Supreme Court officials auctioned the Axioma in late August after impounding the yacht from Russian businessman Dmitry Pumpyansky on March 23.

The yacht has been valued at £64 million – nearly double the sale price.

Authorities on the Rock impounded ‘The Axioma’ in line with US sanctions over the Russian invasion of Ukraine.

“The funds will remain in court for a period of 60 days from the date the sale is advertised in Lloyd’s List,” the Admiralty Marshal of the Supreme Court said in a statement.

“Any person with a claim against the vessel, or the proceeds of sale thereof needs to submit a claim before the expiration of the said period.”

The court received a total of 63 bids for the boat. It did not name the final buyer.

The 72-metre-long Axioma, built in 2013, has space for 12 guests in six cabins as well as 20 crew.

‘Axioma has it all,’ including an infinity pool, full service spa, steam room and jacuzzi, said Howe Robinson Partners on their website.

It can sail at a top speed of 17 knots powered by two Caterpillar engines each with 3,150 horsepower.

Although there have been calls for the proceeds to go to Ukraine, it will likely end up in the deep pockets of US bank JP Morgan.

The investment bank claimed Pumpyanski, who is valued at about £1.8 billion, owes JP Morgan £17m for an unpaid loan.


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