The Ukraine is planning to auction the seized 'Royal Romance' of ex-MP Medvedchuk with a price tag estimated above 130 million Euros.The market value of the yacht will be determined by the organizer of the auction for its sale, who will be chosen by Ukraine's Asset Recovery and Management Agency (ARMA) after a competition. The insured value of the yacht was €137 million as of 2020. In 2015, the yacht was purchased for approximately €200 million. During these years, the vessel has been used, there is depreciation, so it was unlikely that the same amount can be expected at the time of sale. However, according to the documents that were seized during the arrest in 2022 and are currently kept by the Croatian police, in 2020 the yacht was insured for €137 million. The future auction organizer will hire an appraiser and officially determine the starting price of the 'Royal Romance', at which the asset will be put up for sale. The money from the sale of the yacht will go to the budget for strengthening defense capabilities. An English auction will be held, which will be announced again in the event of absence of buyers. The yacht has been under the management of ARMA for sale since April 2022. It took 1,5 years to approve the mechanism for its sale abroad, because it is impossible to deliver the yacht to Ukraine due to the war. In December 2022, ARMA had confirmation from four international auction houses that they were interested in selling the 'Royal Romance'. Ukraine handed over Medvedchuk to Russia in September 2022 in exchange for 200 soldiers captured in Mariupol.
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RED JET 4
The 'Red Jet 4' is up for sale, amid ongoing concerns over the reliability of the company, which has only partially renewed the vessel's certification and was prioritising the route's remaining vessels. It comes after the resignation of eight directors at the company and follows major disruption with both the Red Jet and vehicle ferry service. The whereabouts of te 'Red Jet 4' had been in question for some time and in February, it was reported it had been out of action since the end of 2023. It was docked in Southampton, alongside the stricken 'Red Jet 6'. The other vessel, the 'Red Jet 7', was at the Wight Shipyard, East Cowes. A listing on website Shipselector.com, showed a catamaran with redacted branding for sale through broker, Lager Maritime Corp. for $3.15 million. Meanwhile a temporary timetable was in place on the Red Jet until at least March 22. The 'Red Jet 6' has resumed a one boat service on the route and additional sailings are being operated by Blue Funnel.