NEW YORK: A luxury yacht once owned by sanctioned Russian businessman Dmitry Pumpyansky is up for auction on Tuesday after the billionaire failed to repay a loan to JPMorgan Chase & Co. Once sold, according to the auctioneer’s website.

It will be the first time a superyacht has been put up for public auction since Russia’s invasion of Ukraine forced authorities to freeze luxury vessels in ports around the world, said Nigel, a broker at auction firm Howe Robinson Partners. Hollyer told Bloomberg by phone.

Axioma was seized in Gibraltar in March by authorities in the British territory at the mouth of the Mediterranean Sea. The ship is valued at £63 million, but is expected to sell for less than that price, she said, though how it got that valuation is not clear. not clarified.

Bloomberg reported last month, citing court documents. A spokeswoman for the bank declined to comment.

The five-story ship, which boasts an infinity swimming pool and 3D cinema, has “received an astounding amount of interest”, with about 115 inquiries so far and 28 by potential buyers or their research teams. Citing research, Hollyer said. I will quote the non-disclosure agreement to comment on the value of the boat.

Pumpjanski made his fortune in the steel business. Before he was sanctioned in his March, he controlled TMK PJSC, Russia’s largest steel pipe manufacturer.

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