The 72.5 metre superyacht Axioma has gone under the hammer in Gibraltar, with a total 63 bids received.

A statement issued by the Office of the Admiralty Marshal Supreme Court said that the “successful bider will be selected by the Admiralty Marshal” and confirmed that the transaction would be finalised in between 10 to 14 days. 

Once the sale is finalised, “details about the sale value of the vessel” will be disclosed. 

It comes after the superyacht was arrested at the end of March as a result of sanctions against Russia.

She marks the first Russian-owned superyacht to be listed for sale since the economic sanctions were introduced earlier this year. It is understood that she was auctioned following a loan violation, which has arisen now that the yacht’s former owner has been added to the European Union’s list of sanctioned individuals.

She was sold by the Admiralty Court in Gibraltar under an “as is, where is” private auction, with Howe Robinson handling the sale. Proceeds of the sale “is a matter to be determined by the court at the appropriate stage upon application”, according to the Admiralty Marshal. 

Days before the auction, a license granted by the US Treasury Department’s Office of Foreign Assets Control authorised US-based buyers to participate in the sale.

Axioma was built in 2013 by Dunya Yachts and delivered under the name Red Square. She has proven herself to be a…