Ukrainian government wanted to auction this seized $217 million superyacht, but it failed miserably.

Every story has its conclusion, and for the seized superyacht Royal Romance, it appears to end without fruition.The Ukrainian government had approved the sale of a Russian businessman’s seized $217 million motoryacht and won accolades for the same. It was a first-of-its-kind move wherein proceeds from the sale of the 303-foot-long luxury vessel were to benefit Ukraine. However, all that has gone kaput, and the Royal Romance auction has broken down before it even began. Luxurylaunches reported in March 2024 that the Asset Recovery and Management Agency (ARMA) of Ukraine had accomplished the laborious task of putting the superyacht Royal Romance up for sale.

They roped in the Dutch auction house Troostwijk Auctions to spearhead the sale of the vessel, for which the Netherlands-based auction house had a period of five working days to present a proposal to ARMA to conclude the agreement. Despite the draft being supplied to the National Agency, nothing came to fruition. “I regret to inform you that, according to a source familiar with the matter, at the end of April, ARMA selected Troostwijk Auctions to handle the auction of the superyacht, the Royal Romance. Subsequently, there have been intensive discussions with ARMA and advisors. However, negotiations to finalize an agreement for the auction within the given deadline did not materialize,” a source with knowledge of the situation told SuperyachtNews.

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Per Vessel Finder, the yacht is now in Trogir, Croatia, and it is not known if it’s Croatia or Ukraine that will now pay for the maintenance of the boat. Had they accomplished selling the pleasure craft of Russian oligarch Viktor Medvedchuk, it would have been the first example wherein war-ravaged Ukraine would benefit directly.

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In the past, the only seized superyacht to be auctioned was Axioma. It was sold to a mystery buyer for a respectable $37.5 million, with the sale proceeds going to JPMorgan, one of the largest US banks. The Royal Romance yacht would be an incredible asset for any billionaire that offers everything from luxe amenities to kingly accommodations and 50 rooms catering to every whim and need. The ship boasts a 39-foot swimming pool, six floors, and four decks for the owner, 14 guests serviced by 22 crew members. The 2015 Feadship stunner also includes a top-notch wellness area, a gym, salon, and spa, and a movie theater.