Curtis Stokes at Curtis Stokes & Associates sends me news of a price reduction to his central listing, the 28m motor yacht Balkan I.
Originally built by Cantieri di Pisa in 1982, she was bought by the government of the Republic of Bulgaria for the secretary general of the Bulgarian Communist Party. After the political changes in 1989, the yacht was carefully kept in a Bulgarian Navy base in a specially built building until 2007, when she was sold by the government to a private company.
The present owner moved her to Turkey for a complete overhaul from the keel up. The rebuild of Balkan I has been completed with the hull lengthened, all new machinery, electronics, electrical, audio/visual, interior furnishings and layout and exterior paint. Millions more than her asking price have been invested in her. The yacht is close to Ataturk Airport, so previews are convenient. She sleeps eight guests in a master, VIP and two twins>
Balkan I's asking price is now down from €1.8 million to €1.65 million.