The Russian Oligarch's Confiscated Yacht Is Up For Auction. On-Board, You Can Find Wellness, Heliport, And A 3D Cinema.

The auction of the superyacht Axioma, allegedly owned by Russian oligarch Dmitry Pumpiansky, took place in Gibraltar on Tuesday. This is the first auction of such a confiscated vessel since the start of the war in Ukraine. The value of the yacht is approximately $75 million and its annual operating costs are over $7.5 million, Yacht Bible reports.

The 72.5 metre superyacht was seized by Gibraltar authorities back in March following a complaint filed by US bank JP Morgan. The bank had made a €20.5 million loan in December 2021 to a British Virgin Islands-registered company whose shareholder was a Cypriot firm owned by Pumpiansky.

Pumpiansky is also on the sanctions list maintained and expanded by the EU since Russia's attack on Ukraine. One of the reasons the EU cited for placing Pumpiansky on the list was his presence at a meeting with Russian President Vladimir Putin on 24 February, where the Russian president defended the attack on Ukraine while talking about the economic problems that could follow.

The yacht in question was auctioned by the Gibraltar court for one day only. Interested bidders could submit bids electronically until noon on Tuesday, a court spokesman said. Around 30 potential buyers came to see the boat for themselves. The Gibraltar court subsequently reported that it had received a total of 63 bids to buy the ship as part of the auction.

The purchase itself is expected to be completed within two weeks, after which the winning bid, for which the yacht was sold, will be announced. Axiom can sleep 12 people in six cabins. She also has a swimming pool, Jacuzzi, spa, 3D cinema, as well as jet skis and diving equipment on board.