A $74.5 million (c. €74.51m) superyacht, once owned by sanctioned steel billionaire Dmitry Pumpyansky, has attracted 63 bids at auction in Gibraltar. The yacht has been stranded in the British Overseas Territory since March this year, when authorities arrested it. It is the first public auction of a seized Russian asset since President Vladimir Putin invaded Ukraine in February.

The 72.5-metre (237-foot) Axioma, which has five decks, six cabins, an infinity pool, spa and 3D cinema, was designed by Alberto Pinto, and built by Dunya Yachts in Turkey in 2013.

Originally named Red Square, the yacht had been available for charter for $558,500 (c. €558,715) per week.

On 23^rd August 2022, the Office of the Admiralty Marshal in Gibraltar confirmed that 63 bids had been received for Axioma but refused to reveal the value of the bids for the yacht. Because it was listed for one day only, reports anticipated that the yacht would likely sell for less than its estimated value.

“The successful bidder will be selected by the Admiralty Marshal, but details of the bidder and the value of the offer will remain confidential,” the court said in a statement. “Details about the sale value of the vessel will be made available once the transaction has been completed, which could take place in approximately 10 to 14 days.”

The auction of the superyacht has attracted controversy, because it was sold by Gibraltar on behalf of…