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Russian oligarch's $75 million seized yacht up for auction

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Posted at 8:57 AM, Aug 23, 2022
and last updated 2022-08-23 10:57:23-04

A Russian oligarch's seized yacht went up for auction Tuesday.

It was reportedly the first yacht to be publicly auctioned since Russia invaded Ukraine.

According to Bloomberg, the yacht, which was owned by businessman Dmitry Pumpyansky, received 63 bids.

The New York Times reports that the yacht is estimated to be worth about $75 million.

The multi-tiered vessel is not short on luxury amenities. According to the auction listing, the yacht features a gym, spa, steam room and a "luxurious cinema."

The yacht was seized in Gibraltar in March. The Times reports that JP Morgan said Pumpyansky owed it $20 million in loan repayments.

Pumpyansky is one of the oligarchs that was sanctioned for Russia's continued offensive in Ukraine.