The 120 metre superyacht conversion project known as Y910 is 'guaranteed to sell at auction' after the confirmation of opening bids.
The auction, which got underway on December 10, has been extended to March 31. Additional bids will have to now exceed €1.5m to be considered, according to Joshua Gunsberger, EMEA Consultant at Concierge Auctions.
He added that the auction period had been extended to "allow a due diligence period for interested parties to make their mind up on the project itself".
"This is not like buying a 5,000 square foot house where you know what exactly you’re getting - this is more complex," he said.
He added that opening bids should give confidence to interested parties. "The auction can really open the doors to the yachting community to know what a great opportunity this is," he said. "For those who weren’t sure or didn’t want to commit or didn’t believe it would sell – there's now a commitment to sell."
He added that interested parties can view the superyacht, which is currently lying in the Fincantieri shipyard in Trieste, Italy, with 24 hours notice.
Asking €25,000,000, the vessel was listed for sale with Althaus Luxury Yachting in September 2021, but will now be sold to the highest bidder at auction with no reserve set.
The online auction opened on December 7 via online marketplace conciergeauctions.com, in partnership with Boathouse Auctions, and remain open until March 31.
Work on the former passenger ship is already well underway with the hull and superstructure near completion and interior outfitting awaiting the instruction of a new owner.
First launched as a passenger ship named Vladimir Chivilikhin in 1990, the yacht was used by the Russian offshore industry until 1998. With an interior volume of 6,000GT spread across eight decks and boasting around 1,360 square metres of exterior deck space, Project Y910 is one of the world’s biggest superyacht projects currently under construction.
Originally designed by Andrew Winch and coordinated by Stirling & Co, the vessel's interior offers 2,500 square metres of living space, with accommodation for a total of 36 guests in 18 cabins alongside 50 crew. The interior can be customised to the new owner’s wishes.
Constructed to be fully SOLAS compliant, the project will also feature a 1A ice-classed hull and boasts a range of 10,000 nautical miles. Intended for cruising in remote locations, the yacht will also be equipped with two helipads and a helicopter hangar.
Project Y910 has also been designed with eco-friendly elements, including a fuel-efficient hull shape, advanced water treatment and waste heat recovery systems and a hybrid propulsion engine.
According to Eric Althaus, of Althaus Luxury Yachting, the conversion project can be outfitted to a number of different speculations depending on the requirements of the new owner. "This boat can become a pleasure yacht, it can become an oceanographic vessel, it could be a charter boat, and it can travel around the world, even to the Antarctic."
Project Y910 will be available for delivery in the next 18 months. Once complete, Project Y910 will join the ranks as one of the largest conversion projects of all time.