For the first time, Ukraine is inviting bids for the sale of the 303-foot-long seized superyacht, Royal Romance. The winning bid for the $217 million vessel will be announced next month, and the funds will be used for rebuilding Ukraine

The Asset Recovery and Management Agency (ARMA) of Ukraine has accomplished the laborious task of putting the $217 million superyacht Royal Romance for sale. It is indeed a historic moment as many nations are still struggling with seized superyachts, their mounting bills, and unforeseen futures. Bidding for Viktor Medvedchuk’s super yacht Royal Romance opens for representatives to assist in the sale until April 18, 2024. ARMA’s deputy head for European integration, Grigol Katamadze, described the accomplishment and decision as “truly historic” as it is the first example of the sale of seized assets located abroad.

Royal Romance being towed from Croatia. Via Facebook / @ZMiST

Thanks to a ruling of the Croatian court in December 2022, Medvedchuk’s romance with his yacht ended in order to benefit Ukraine. The rest was spearheaded by Olena Duma, the head of Ukraine’s Asset Recovery and Management Agency. It is ARMA that has been managing the luxury vessel since April 2022.

Also read - U.S. authorities' excitement turned to frustration as a Manhattan court bluntly rejected the DOJ's bid to sell the seized Amadea superyacht. Taxpayers are left holding the bag and will be paying $27,000 every day for years to come just to maintain this $325 million vessel.

The interiors of the Royal Romance have been kept under the wraps. We are hoping to see more of it if the yacht is auctioned.

The Croatian court ruled to transfer the ownership of the Royal Romance to Ukraine in January 2024, with Olena Duma issuing a statement that the transfer would happen “as soon as possible.”

Grigol Katamadze, Chairman of the Competition Commission, highlighted the historic achievement for ARMA and Ukraine, as they initiate the sale of Viktor Medvedchuk’s yacht, enabled by Olena Duma’s efforts. Stanislav Petrov, a commission member, underscored this as the first of many seized assets to benefit Ukraine. Image – Arma

It looks like there is no stopping another ‘transfer’ of the 303-feet ship to a new owner with proceeds going to the benefit of war-ravaged Ukraine. According to ARMA, Documents from potential global bidding organizers will now be accepted until April 18, 2024, with the winner announced on April 23, 2024.

The Alfa Nero seized by Antigua is caught in a legal quagmire with the Caribbean nation unable to sell it.

The superyacht Alfa Nero hasn’t been this lucky and was stuck indefinitely between potential billionaire buyers who abandoned her, much like her Russian owner Andrey Guryev, only to witness the auction being stalled by his daughter Yulia, who filed an injunction.

Also read - Not spy satellites or high-tech drones, but it was selfies and Instagram posts showing off their wealth that led to the seizure of yachts and sanctioning of these Russian oligarchs.

The Royal Romance Superyacht –

The aptly named 2015 Feadship beauty spans six stories with two elevators helping guests and owners maneuver through the gigantic boat. It features a massive 39-foot swimming pool, enhanced by a waterfall flowing over the stern. The Royal Romance, designed by De Voogt Naval Architects with interior design done by Seymour Diamond, boasts an insane 50 multipurpose rooms across its six floors and four decks. She sleeps 14 guests and 22 crew members. The custom yacht was outfitted with a comprehensive wellness area complete with a gym, salon, and spa, and a movie theater for some classic entertainment.