Commentary from George Delaney, Cargo Valuation Analyst at VesselsValue.
The auction of Russian billionaire Dmitry Pumpyansky’s sanctioned vessel, Axioma (LOA 72m, July 2013, Dunya Yachts) is the first such publicly forced sale of oligarch owned Superyachts since Russia’s invasion of Ukraine in February. At the time of the sale, the auction of Axioma represented the 13th S&P transaction involving vessels with an LOA greater than 70m in 2022.
While brokers pushed this vessel for c. USD 70 million back in 2018, the sale price has recently been reported as USD 37.5 million. The yacht has a current VV Value of USD 42.21 million, highlighting how objective market information can be obtained in an industry traditionally labelled opaque and secretive. Transparency is key; VV’s data allows for informed valuations of these assets, independent of opinion or bias, highlighted by this headline transaction.
This sale sets a benchmark for other Moscow linked luxury assets expected to be sent for auction in the coming months.
