Russian Superyacht Alfa Nero Finally Sold for $40 Million

Alfa Nero in better times during a port call in Monaco (Remii / CC BY SA 3.0) — Alfa Nero during a port call in Monaco (file image courtesy Remii / CC BY SA 3.0)

At long last, the Russian superyacht Alfa Nero has been sold, two years after authorities in Antigua and Barbuda seized the ultraluxury vessel and put it in layup at a marina in St. Johns.

Alfa Nero has been linked to the secretive Russian billionaire Andrey Guryev, who was sanctioned by the U.S. government in early 2022. When Alfa Nero appeared in Antigua's Falmouth Harbor later that year, the FBI arranged with local authorities to raid it and question the crew for evidence of its ownership. Guryev denied that he owned the vessel, so Antigua's government seized it as abandoned property and took steps to auction it off.

The U.S. Treasury Department lifted sanctions on the vessel to clear it for sale, and in June 2023, it was sold to the highest bidder - Google CEO Eric Schmidt - for a total of $68 million. However, the sale was never completed. Guryev's daughter, Yulia Guryeva-Motlokhov, filed a lawsuit claiming that the yacht was hers. This suit meant that Antigua could not issue Schmidt a clear title; without title to the vessel, Schmidt's representatives declined to pay the auction price and complete the transaction, Information Minister Melford Nicholas said last year. The vessel remained unsold, costing Antigua's government about $100,000 a month in upkeep.

"I just want to see it gone," Antigua and Barbuda Port Authority CEO Darwin Telemaque told the London Times in June. "This whole . . . thing has been like a Tom Clancy novel. And I'm stuck in the middle."

This time, Alfa Nero appears poised to depart at last. After private talks with a prospective buyer, the yacht was put back up for sale, aided by broker Northrop & Johnson. The deal closed quickly for a reported price of $40 million. (The buyer's identity was not disclosed.)

While the sale brought in far less than the yacht's previous auction price, closing the deal creates value for Antigua. The potential liability of a possible marine casualty or spill from a mothballed vessel will soon be gone, along with the monthly cost of maintenance and crew wages. The sale also avoids the risk of any deterioration of the value of the yacht's ultra-luxurious appointments, like its leather and wood interiors, which must be constantly air-conditioned.