Poland Built Mega Yacht Project Y910 Set To Be Auctioned By Concierge Auctions & Boathouse Auctions Soon

It sounds like a James Bond assignment, but Project Y910 is actually one of the world’s biggest superyachts. And next month the 393-foot-long vessel is hitting the auction block.

The mega-yacht, which has been previously listed on the market for €25 million (US$29 milion), will sell to the highest bidder with no reserve, meaning there’s no set or expected opening bid. 

“We’ve sold some very significant things, but this is a very special opportunity,” said Charlie Smith, a strategic adviser at Concierge Auctions, which is teaming with Boathouse Auctions to sell the vessel. 

The yacht sale is a first for Concierge Auctions, which typically auctions luxury real estate. “But the similarities are all there,” Mr. Smith said. “We do high-value real estate, and this is a floating home.” The seller is a “successful European industrialist,” Mr. Smith said. Mansion Global couldn’t identify the seller.

Bidding runs in the online-only auction from Nov. 11-23. 

The ship boasts 18 staterooms that accommodate up to 36 guests, along with quarters for as many as 50 crew members. “It has all the amenities you want,” said Jack Mahoney, founder of Connecticut-based Boathouse Auctions. There’s also two pools, two helipads, a helicopter hangar, six garages, an owner’s suite and two VIP cabins. 

The buyer could be “an individual looking for one of the world’s largest superyachts, or could be an institution or expedition company,” Mr. Mahoney said.  The ship features an “ice-class” hull, which enables it to navigate frozen waters, Mr. Mahoney said.

Built in Poland in 1990, the yacht was designed by Cor D. Rover, who’s considered the Frank Lloyd Wright of naval architecture, according to Mr. Mahoney.  

The ship was refitted and expanded from its original 295-foot design; the refit was conceived by naval architect Robert McFarlane of McFarlane ShipDesign with outfitting by Italian shipbuilding giant Fincantieri. “It’s a very high-quality build,” Mr. Mahoney said. The ship is currently docked at the Fincantieri Shipyard in Trieste, Italy. 

Demand for megayachts has soared during the pandemic, Mr. Mahoney said. “It’s been high since we came out of the 2008 financial crisis, and the market really sprang back around 2012-13,” he said. “Covid has amplified it. There’s been a total explosion in the entire ecosystem of yachts and superyachts.”

While a refit could take about 18 to 20 months, Mr. Mahoney said, building a superyacht from scratch could take more than four years. “Everyone from brokers to shipyards to builders is maxed out to capacity,” Mr. Mahoney said. “There’s a thirst for people to isolate, get away, and just be with family and friends. It’s unprecedented. It truly is a seller’s market.” 

According to London-based trade site Boat International, the superyacht market actually took “a slight dip” in 2020, with 341 yachts sold compared to 404 in 2019, a total of £1.86 billion (US$2.5 billion) this year versus £2.46 billion last year in asking prices. The most expensive superyacht sale of 2020 was a 240-meter yacht called Hasna with an asking price of €92.5 million.