Sanctioned Russian Billionaire’s Superyacht Auctioned for $38 Million

A luxury yacht once owned by sanctioned billionaire Dmitry Pumpyansky was sold for $37.5 million in Gibraltar -- about half its reported value -- in the first public auction of an asset seized since the Russian invaded Ukraine.

The five deck, 72-meter (236 feet) yacht Axioma was put up for sale after JPMorgan Chase & Co. called in a 20.5 million-euro ($19.7 million) loan tied to the vessel. The winning bidder wasn’t disclosed but the purchase price is about half the $75 million valuation initially reported.