A $168 Million Gigayacht Sold On eBay

05/04/2006

eBay sets a single sale benchmark topped $85 million for a 50 percent deposit on a 405-foot megayacht designed by naval architect Frank Mulder.

Thee eventual price was $168 million, with the transaction completed with Florida Fort Lauderdale’s 4Yacht brokerage firm.

Gigayacht’s perks include a 3,000 sq. ft. master suite on the main deck, 10 multilevel VIP suites with panoramic windows, eight guest rooms, a children’s cabin, a gym, office area, movie theater, spa, retractable glass elevator, a jetstream swimming pool, a movie theater and a helicopter pad.

It also includes two large guest tenders and a ski boat stored in the garage. A submarine can be launched via dry dock.

It was sold to a Russian billionaire Roman Abramovich.

Gigayacht has a cruising speed of 16 knots and maximum speed of 20 knots, possible with two 4300 kW engines. Made from steel and features Caterpillar engine, the yacht itself can be bought from the manufacturers for $196.5 million.

When it was first listed on eBay however, the yacht had yet to be made, and delivery was set for some future date. Only one person made a bid before Abramovich, and it was for a mere $10.

Roman Abramovich made his wealth in the Russian oil industry and in the controversial debt-for-shares scheme that was popular in the country, after the collapse of the Soviet Union. Abramovich has also made a name for himself in the UK.

He is also known to be a collector of luxury yachts, and by purchasing Gigayacht, the most expensive item on eBay adds to his list of collections.