$60 Million SuperYacht Abandoned & Left to Rot | Ep156 SY News
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- Опубліковано 26 вер 2024
- #superyacht #superyachts #yachts #boats
$60 Million SuperYacht Abandoned & Left to Rot | Ep156 SY News
MYA still at World Resort Dubai
Unfinished SuperYacht sold
SuperYacht left to rot in Monaco
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The 51 mete super yacht that went up for auction is a Trinity Tri deck. And is currently in Gulfport Mississippi, USA.
Yeah it was moved from france road about a year ago or so.
There is no France Road in Mississippi with port access. Where is that France Road dock?
There is a France Road with docks in the state nex t door: New Orleans LA. Is that where it was?
Insane money to abandon it. Crazy!! Keep us updated on MYA please.
peanuts for the owner obviously...
Just goes to show that banks have huge profits. What's a few million here or there?
It’s easier when it’s not your money
That was abandoned along with the yard owned by Trinity yachts after hurricane Katrina. Everyone was paid by insurance. This location was France rd in New orleans.
Interesting news as always. Many thanks for all the hard work
The unfinished yacht is in Mississippi, USA. It was being constructed at the former Trinity yard in Mississippi.
It's should be named ....the American dream
That hull was on France rd. Abandoned after Katrina and moved I believe within the last year to Gulfport. Everyone got paid by insurance.
Thank you for telling me about the location. I was trying to figure it out by the background landscape.
The world resort looks more like sand piles not a resort
Saudi Sand Bar 🚢
its mostly abandoned
@@alancrossan9880 not a very appealing "Resort"
probably another money laundering scheme... besides being the thing only a coked up oil sheikh would dream up.
@@paladro lol
...Serafsa...such a beautiful name...maybe the feminine of 'seraph'... shining angel...she sure needs a loving make over to restore her to former glory...the Royal House of Saud: the richest in the world?...surely a pittance to restore this lovely Yacht...once again eSysman, thanks so much for your wonderful reporting...always so good to see you & hear from you...
By the way I’m Hair Designer and your hair looks extra good today,I never understood why people made crappy remarks about your hair and never looked bad
Some of the people who make strange comments are just having a bad hair day! 😋
Sad to such a fine boat in bad condition......Thanks very much my friend 👍
Shoe🇺🇸
@eSysman, can you do a story on why MY Illusion Plus is unable to sell? It's been for sale for five years and the price is now reduced to $79 million USD which is honestly an incredible price for a yacht of it's size. Usually yachts of that size sell for three to four times that amount. Is this because it was build by a Chinese yacht builder?
Looking for loyal friends? :D
Sort of hurts to see beautiful boats and yachts - like the Riva - left to decay.
1:25, I initially thought this was the Bella T, an unfinished 45m superyacht recently auctioned in Cape Town after having been a landmark (out of the water) in the harbour for many years.
Yes that is her
Yes I’m sure she is in Cape Town
This yacht needs to be rescured and brought back to a decent condition. Shame to see nice boats like this left without any maintenance. Another excellent video, straight forward info.
it was never finished NOT a maintenance issue derpy
You did a good job on the update my brother !! From Ohio USA 🇺🇸 !!
Hi, funny I came across this video. I actually work in the boat yard the 51m super yacht is being restored in, it’s currently in Brisbane, Australia……… :)
Interesting video 📹 🤔 👀. Thank you.
It's interesting they called that build 40% finished. Looks to be significantly more work ahead before it's in presentation condition.
Hard to believe Monaco would allow this to remain in their harbor. They do have an image that's quite important to them I would believe. Goes to show how much upkeep it really takes.
I would agree but it depends on how much of the internal machinery, wiring etc has been complete. I'd suspect 25% complete. 2 generators were not even installed.
It depends on how much Prince Albert is prepared to upset such powerful and wealthy individuals,
great update 2x👍
Ha loveing the chanel,
Over the past 18 months/2 years it seams that more Italian built yachts are having fires on board and sinking than other yacht manufacturers is this the case if so are Italian yachts safe.
Thank Andy (Portsmouth Uk)
Apparently, the patina look is not just for cars. 😁
Next year, Rat rod yachts!
The derelict yacht in Monaco could have been moved out temporarily because of the Show you were attending. It wouldn’t have been an appealing visual for those looking at all the other well-maintained super yachts.
I thought the same thing.
Great reporting; thanks.
The abandoned yacht may just have salt build up from sea air. It looks crystalline and might be flushed off with pressure hose. Maybe they will give the yacht to whoever agrees to pay their tens of millions dock fees.
This is a challenge as a lender in the yacht industry; even with ironclad paperwork, if a borrower or guarantor decides not to pay, the multi-jurisdiction bankruptcy or foreclosure process is a nightmare, especially if it’s a Royal at the end of the line. American or Western borrower and you’d end up with something closer to Axioma or a quick distressed sale.
Prices across all sectors need come down so people can buy nice things without massive debt.
@@MbisonBalrog Maybe, just maybe, the prices charged reflect the cost of construction.
@@hb1338 it’s mostly markup so more middlemen can make more. And that includes the commissioning of the construction
Sam Bankman-Fried might interested in buying if it's moored somewhere without an extradition treaty.
so the boat rotting in monaco, no monies to pay for upkeep etc.............and apparently no owner, so who is paying the berth fees?
I guarantee you that someone owns it😂
@@melissasmess2773 The Monegasque don't mess about...it would be seized in a heartbeat if it was not paying its bills...
last one off, please pull the drain plug. lol
Are there two yachts named Sarafsa? I delivered the rib tenders to a yacht named Sarasfa at Amels shipyard in Holland whilst it was under construction and later to the yacht in Cap D'Ail near Monaco. It had a Burgundy hull with Cream superstructure.
The paint on the hull looks like it was clear coated, as you would a car paint job. The clear coat is failing and is shedding and peeling, which makes it look very tacky. Except for the areas where the fenders didn't protect the hull at the waterline, the actual preservation properties of the paint on the boat look to be sound.
Not a $60 million dollar yacht any more, though. The shipboard systems that make it go require a lot of maintenance, so I expect the engineering systems are pretty much ruined by now.
The paint was probably Awlcraft 2000. This paint has less colour and more gloss than Awlgrip paints. It can be polished to a certain degree whereas Awlgrip cannot. On the other hand, if they have been polishing Awlgrip, this is what happens but much sooner.
There eas a super yaught that was outside and you could see it from N1 coming into Cape Town in South Africa it was there for many years
In juli and august MV Sarafsa was in Portisco, Sardegna
What a shame...
Always knew that Monaco was nothing more than a well disguised council estate, for burnt out cars read motor yacht Sarafsa. But seriously what a sad state it is in, looks much better in the pictures on the broker site, surprise surprise.
How many council estates do you know which are inhabited almost entirely by multi-millionaires ?
MY SARAFSA was in sardinia dock outside porttisco by the filling station for a long time.
Easy come , easy go .
How do crew stick around when yachts are in limbo like MY Sarafsa (or MY Axioma)? Who is paying them? If I was unsure about the future of the vessel or the owner, I would resign and move onto another gig. If someone has any insight on this aspect please comment. Thanks!
Cost of living in Monaco is through the roof if you can find anything to rent. The caretakers most likely live on the boat for free, have full time jobs elsewhere and take care of the yacht in their free time.
Special request: (Unless I've missed them) I haven't seen any bloopers recently...maybe throw 1 or 2 in once in a while. Cheers!
@eSysman - I'm pretty sure your 40% built yacht is in Cape Town. Timelines, size and looks match what was / is quite a landmark here...
The auctioned off yacht you are looking for seems to be in a dry dock in Cape Town. Will confirm with photo tomorrow.
I think that was a Trinity, when they were still in buisness. This boat was for sale with advertising in Yachts International some years back.
Mississippi but ,Palmer Johnson have a similar yacht in the shipyard
Now that is a polo shirt!
Burgess Yachts has pictures of M/Y Sarafsa. One of them shows stained carpeting in one of the salons. No idea when the photos were taken.
i would appreciate your opinion in the new film "triangle of sadness", the story goes on a luxury superyacht. Its a satire black comedy, but after seen so many of your videos, lot of the things in the movie i could spot that were really wrong and never would've happend.
Feel sorry for the crew stuck in Dubai, must be bored out of their minds.
One wonders a) are they getting paid b) who has their passports.
They could be sub letting the rooms for 1000s
Brilliant video.
What a shame. I actually watched the hull being laid at Appledoor yard before the hull ws towed to Deveonport
I'm sure we'll see a few more in that state by this time next year.
It is a trinity yacht and I believe it is in Louisiana in the US
now moved to gulfport
The yacht being refurbished is in cape town docks, I think it was sold for 8.5 million dollars
The incomplete yacht is at
the now defunct Trinity shipyard in Gulfport Mississippi.
How much a day to leave a yacht that size in Monaco a day??
The generality of the 10% of the cost of the vessel equates to the annual running costs is so bland and variable as to be somewhat meaningless. It depends greatly on the operational cycle of the vessel (single season, 2 season, guests all the time or very occasionally, the usual routes or far flung places, anchored out or in expensive berths). The first 5 years are generally much less than 10% as there are no major surveys, no major repairs and no updates. For the next 10-15 years costs go in peaks and troughs on a 5 yr cycle due to surveys and intermediates at 2.5 years. Paint jobs are usually done at 7 years or split top & bottom at half intervals. A major update and perhaps replacement of generators at 15 years may be needed depending on hours and how well they have been maintained. Hull thickness reduces from 15 yrs old and onwards and major plate-work may be required from 20 yrs on. Then you have to consider is the 10% based on current value or original value. 20 years ago $25m was a lot, now its not so much and refit costs, fuel and wages are more expensive so the proportion changes. As the yacht gets older the value depreciates but costs go up. Inflation is never taken into account.
The 10% rule is a good average. Of course it’s not exact but we don’t have spring to do a forensic analysis for a small segment in a video. And being someone who works on these boats I’ve seen exact amounts owners have pad over the years and some have been very very close to 10% the original price.
@@YachtReport Thank you for your reply and that may have been your experience but it was certainly not mine from 16 years in the industry. I had costs as low as 5% and up to 33%. I have been in some yachts where we travelled 35,000 Nm, but some only 2,500Nm per yr. In addition, no one is sure whether the costs are a portion of the original cost or current value. This makes a significant difference for a 25-30 yr old yacht whose value has depreciated to bugger all and inflation has driven support costs through the deckhead.
She is for sale at Burgess asking 65 mill.
I get main stories and be stories from my google browser on my phone, and your video came up. I had already watched it, but i thought that was cool. It's normally abcnews, cnn, businessinsider and things like that
Also, does anyone keep an interior like that if they bought it? The Saudis have a distinct flavor to put it mildly
Much of the required maintenance is safety related. So the fact that is in port next to other ships and with a crew onboard I wonder how is that minimum maint. being accomplished as to not be a hazard to life and property?
Just to clear abit up. The abandoned yacht was at former Trinity Yachts yard on France rd in New Orleans. Trinity ran into alot of money issues really from jump. State kicked in money for the yard as long as certain employee numbers were met. Long and short of it, Trinity was making a full move to Gulfport, MS and mothball France rd site. Governor Blanco stepped in and said, " we want our money back". Yard stayed with a skeleton crew at best until Katrina hit. That gave Dane his get out of jail free card. Mothballed and left for Gulfport. The yacht in question has sat since about 1-2 years ago where is was finally moved to gulfport. Insurance paid. Trust me, I often looked at it and wanted to scrap LOL. That would have been a nice junk of change during the recession when metals went sky high. 😁
Probably end up in Alang or Kandani for scrapping
Sail Yacht A the huge silver lump is probably rotting somewhere too.
Thank you my super yacht's spokesperson.
You rock on up to date information. I will give an example from my own experience with just a 26 foot (Larson) $7000 bill on basic outdrive yearly maintenance. Sitting in salt water takes its toll on parts, had to replace Hydraulic lift cylinders, that corroded right through, leaking OIL., New throttle cable.repaint with bottom paint. Hull waxing done by me and wife with help from my mini Australian Shepherd. He likes to take my polishing rags When in the boat repair yard, there were workers cleaning WAXING other vessels hulls. Just saying this as a small time example.
But just looking at your photo shows. The Hull must be in ship shape, continued cleaning all the time. Million dollars expensive on upkeep
I'm trying to sell my ( Larson) right now.
Sarafsa was in loano in mid october then it came to MYS
There a article in The Times of Malta about MY Golden Odyssey super yacht sold at auction
We covered that story a month ago Breaking News: Seized 123m SuperYacht Sells for €150 Million | SY News Ep141
ua-cam.com/video/eD4oKShbrTM/v-deo.html
I saw Sarafsa in Sardinia during the season looked terrible!
SO SAD TO SEE A BEAUTIFUL BOAT IN THAT DECLINING STATE, SAD..... 😦😦😦😦😦😦😦😦😦😦😦😦😦😦😯😯😯😯😯😯😯😢
NO INFO ON THE YACHTS, BUT 🤔 I AM WONDERING WHAT HAPPENED WITH YOUR CAR 🚙 DEAL 😎💚💚💚
It looks like the hull had been sanded and sections had been faired out. If that's all damage it sure looks strange.
Sanded by salt water
@@YachtReport Thanks. I've never seen that before!
@@YachtReport and loose lines
I see an open canvas for spray cans and murals or camouflage. Lol!
Good!
Safafsa is for sale through Burgess for €65m at present, I guess the owner will be open to offers given its condition!
How very sad
Sad to see something of such value left to get into disrepair particularly in Monaco of all places surely if its moored in Monaco it was moved when the boat show etc was on, someone will take it on and put it back to how it should be as what's happening is a crime in theory.
There is another Yacht PJ World which sat from 2009 and is now being finished
I would ve painting the bottom of that boat as it sits to protect it as much as possible then put a lean on it might get a new owner for cost of paint lol
Saving money and superyacht are not often in the same sentence.
I have a close friend who works in private finance in Monaco. There is a story doing the rounds that Prince Fahd is operating under an order of constraint which limits severely his ability to move money around. The order was (allegedly) issued by a court in Saudi Arabia in response to a case brought by a creditor who "got tired of waiting for Fahd to pay his debts", and there are rumours that the creditor is another member of the Al-Saud royal family. My source describes the story as plausible, and if it were true, it would explain a number of other strange occurrences in the principality.
The yacht that was 40% complete was in Cape Town for a long time
I think we should all pitch in and buy it.
It’s aluminum so can’t get that bad just have to sand back to join parts and is better than being steel
Observation: I think that M/Y Victory should be anchored inside the World Islands just off the Dubai Island.
(get it?)
Maybe they started building that yacht on the receding shores of the Red sea😂 back in the days.
The yacht being left to rot brings a whole new meaning to the phrase, disposable income.
Do you know anything about Eclipse ?
FYI: The $78M loan is for a mansion in Surry and the yacht. The yacht is valued at $48M.
i'm going to have super yacht built based on a guppy.
I hope price drops enough so I can buy. But I probably can’t afford docking fees and repairs.
So 228k subscribers! If 120k of us put in £500 each we'll get a super yacht to spend some time on!
120k people would then be able to have exclusive use of it for 3 minutes each per year 🤣
Mr bearing what's your thoughts
Yachts are a maintenance nightmare the upkeep expenses are atrocious sometimes its not worth throwing good money after bad been there done that best day of ownership is the day you buy and sell..unless you are a big corporation who can write it off as expenditures
This is superyacht news with eSysman
The perfect Homeless Shelter!
I can't believe I witness my first rat-yacht !🤣😂🤣
Sarafsa seems to be for sale at burgessyachts
i think that boat was in Alabama it was on a sight i think world yachts for sale
Its Trinity.
Louisiana 🇺🇸
Golf Port Mississippi USA 🇺🇸
Trinty went out of business i believe in 2008.
A tetrasomas fish! Sounds like something prehistoric, extinct maybe. Perhaps that build was / is headed for similar status, prehistoric figuratively speaking, or heading towards extinction, thus the 15 year delay. 🤔 At any rate, it does sound like some bargains are surfacing for superyachts if one is in the market. I'm curious about any history of people buying 'bargain' superyachts as investments to fix and flip, or how frequently superyachts even come available in such a way. It does seem the majority of people in the market for superyachts either have them built, and market their previous one (if such exists) at "retail". Whatever happens with the Russians under sanction, and the Russian Oligarch economy as a result of the invasion of Ukraine will no doubt have a further impact on the superyacht world. I am sure eSysman will be at the forefront of coverage and analysis when the time comes.
Very apt site to ditch it
I’ll take it
Going off the 10% rule for maintaining and staffing super yachts. What would an owner operated super yacht / large yacht cost to maintain?
Paul, you answered your question, 10% of the value.
You cannot owner/ operate a yacht that big. First, the class regulations would never allow it. Second, the insurance company would not let you do it either. Third, it would be impossible to do unless you had a huge family and lots of friends. Not to mention the licenses for the all of the officers. The bottom line is that for any yacht above 80 feet you need a professional crew.
A bargain to be had if you can make the prince an offer and for the bank to accept the offer, kind of like real estate when buying someones home who is doing a short-sale.
I will take it!
The boat was started by Trinity which has sonce gone out of business.
Talisman C is in port said
That’s nice