The first public auction of a yacht seized from an individual because of sanctions against Russia will take place in Gibraltar.
The yacht was once owned by Dmitry Pumpyansky
The 236-foot yacht Axioma has a gym, a full service spa, a steam room, a cinema and a separate quarters for 20 staff members, according to boat dealer Howe.
The yacht got 63 bids by Tuesday morning.
More than 30 prospective buyers flew into Gibraltar ahead of the auction to see the yacht, a broker told The Guardian.
The Axioma is worth $42 million according to experts.
The Office of the Admiralty Marshall said that more information about the sale would be published two weeks later.
There is room for 12 people on the yacht.
It is estimated that Pumpyansky is worth $2 billion.
Axioma is on a yacht in France.
The Axioma was seized in March by authorities in Gibraltar after JP Morgan claimed Pumpyansky broke terms of a $20.4 million loan agreement. It was one of the first superyachts to be blacklisted. It was available for charter for $558,500 per week before it was renamed Axioma.
The billionaire's yacht attracted 63 bids at the auction.
A superyacht is for sale in Gibraltar.
Gibraltar is preparing for the first auction of a Russian billionaire's yacht.
Gibraltar and France have stopped the sale of three boats owned by Russians.
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