Largest SuperYacht now Owned by Federal Government? | Ep73 SY News
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- เผยแพร่เมื่อ 6 ก.ค. 2024
- #superyacht #superyachts #yachts #boats #dilbar #russia #sanctions
Episode 73 SY News
A few days ago M/Y Dilbar was officially seized by German federal police
In April the yacht was seized. According to a source for CNBC “The yacht was transferred to the Asset Recovery Agency as seized property,"
M/Y Tango Seized by US authorities in Spain on 4th April
What will happen to these vessels and others like them?
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These are first class reports on this channel, thank you very much for all of your efforts to keep us thousands of viewers informed.
Yes sir i love the content
Medvedchuk is no longer under house arrest. He escaped the house arrest and tried to leave the country but was captured and now in prison.
I wonder if he couldn't stand the "confines" of staying in his own home, or if he just was of the mindset "I can do what I want" or if he was worried violent people would come after him. If I were a billionaire and confined to house arrest, I'd probably be quite content, unless I had no security.
@@grondhero I think he was trying to get back into Russia when he was captured again and put in prison.
@@CCB249 me too, if he made it to Russia he likely would've never returned to Ukraine and faced the charges. Oh well, "almost made it"...
Rachel Maddow on MSNBC recently gave an interesting report about the property this man owns and his connections to Paul Manafort and #45. Medvechek's house in Ukraine is huge and in the back garden there's a beautiful Pullman railway carriage with gold everything 🙄.
The guy had 55 HOMES!!!!! Viktor Medvedchuk, a pro-Russian Ukrainian politician and oligarch, was detained by Ukrainian authorities and had 55 homes and 26 cars seized. Former longtime Russian TV journalist Stanislav Kucher tells CNN's Erin Burnett "Medvedchuk is a guy who is considered by a lot of Russians and Ukrainians as a great master of con." Source: CNN
There will be open spots at Monaco F1 this year.
Finally... some parking
Nice! I can finally take my 12ft sundeck pontoon to the race 😂
@@xpengfangirl7942 yeah, russians are dreaming so much that someone somewhere will miss u. No we won’t
The FBI could rent it out as a hotel at Grand Prix.
@@johnwright3426 not true, monaco is not so expensive as u think. For a 50meter yacht u will pay about 1500€ per day
guessing the ship builders are freaking out that a good percentage of their available potential clients are going to be left with no money
probably mortgages on those mighty yachts. Even if seized, they must pay the mortgages I suspect.
The money will just go to corrupt billionaires in US/ EU /Ukraine etc.. from the Billions in taxpayers funding all this . There is certainly a leaning among the viewers to this channel that the only rich crooks are Russian . If you think that any money from all these seizures will be used for good , i have a bridge i can sell you .
too bad for them...lololol.....this is what happens when you base your biz on known gangsters and criminals. im not cyin for em.
@@johnwright3426 explain how a private yacht builder has any bearing on house prices?!?!? thier biz is boat building.
@@johnwright3426 ahhh. used to werk for one. client money driven. ussually billionairs.
Concerning DILBAR, i'm pretty sure there are a few Middle east billionaires just waiting for that vessel to be put on sale. Thank's again for another very interesting report.
I'm pretty sure only a second-rate one would want someone else's leftovers, or the controversy.
The Saudi who rejected Elons bid to buy Twitter will probably be given it by the govt as reimbursement for keeping their propaganda disbursement method in tact.
Great channel! I could watch yachts being seized all day long.
I believe that those yatchs would make some beautiful reefs...
Make a Ukraine Navy instead
You could probably put a few howitzers and missile launchers on them and give it to Ukraine.
I’ve been watching your channel for a while. Not sure why you don’t have more subscribers. Also not sure why news media doesn’t use you as a direct source. You’re well informed and obviously could have helped countries if they would have listened to you. Not to mention these updates are just plain interesting - Seeing the logistics of super-yacht ownership/operation, specifically in the current sanctions climate.
Why would he want to work with any news media, when all you get are lies and propaganda from that source!
So interesting. Before, I didn't understand how governments could do this to individuals, but thanks to you, now I do.
The arrests and seizures are globally significant and interesting. These videos are recording this historic event beautifully.
THEFT, pure and simple, legalized criminality.
@@joegarry8983 Theft paid for those yachts, perhaps it is fitting if theft takes them back.
@@coniccinoc Theft pays for all such yachts and two wrongs do not make a right. The thieves who took them back are but the reverse side of the same coin.
@@joegarry8983 I imagine being a Russian Oligarchs isn't all young women and old wine, sometimes they have to deal with these minor setbacks. Somehow I think they are all going to be okay and probably come out of the war even wealthier.
@@joegarry8983 It's weird how your fist comment is now hidden. I wonder why that is?
Wasn't the British government looking for a new royal yacht, as a replacement for Britannia? They may have a few great deals to choose from!
Somewhere Andrew can play playboy?
We know the oil rich princes & princesses of the Mid East are super nice & they have super yachts to welcome British princesses, princesses, & old monied aristocrats & other Royal Highness of Europe. Shouldn't the latter also have super yachts, like this beautiful that Trump would love to have (in London, Marseille, Barcelona, Lisbon, Nice, the Hague, etc) to welcome the former as well?
Johnson can name it "Londongrad"
Boris would love a big yacht like Dilbar.
Since the mooring costs of the ships are exorbitantly high, it would make sense to use the space that the ships have.
I propose to use them as accommodation for Ukrainian refugees!
I guess, if seized yachts can't be sold in short term, scrapping them and sell parts/materials would be more cost effective than maintaining them.
No make them museums so people can view them lol
@@sc1338 cool idea, russian oligarch Museum! Or make them hotels, restaurants, party venues etc. Not sure if this would pay off, though.
They can't scrap it for the same reason they can't sell it...
That should be obvious
Having done business with a maritime college in the U.S., I know that the government sometimes transfers confiscated yachts to those schools for marine education purposes.
Gunnery practice would be educational.
I don’t think they can dispose of a foreign owned asset as the owners did nothing illegal. Drug runner boats are typically seized and disposed of as that is a crime.
Well, start with the teak oil and soap at one end of the boat. by the time you get to the other end, it's time to teak oil all over again. I don't think so. Maybe "Age of Sail" types but not these plastic monsters. Most couldn't even get into a Port near the college. !!
Exactly Mr. eSysman, Who would...will... want to buy these extraordinarily expensive confiscated Vessels ??
Suspension is in the air! Anxious to hear more from you, and a happy Easter ; )
I can just imagine some other Russian not on the bad boy list will get it for half price and then give it back to the original Russia owner and a suitable reimbursement.after Putin gives up on trying to dominate those nasty junk yard dogs in the Ukraine.
Some will be bought by Investment consortiums who will put them up for charter. Others will be bought for a nickel on the dollar by people rich enough to run them but who don't want to put up the initial costs. These types may also charter them to defray the running expenses. Many rich people have yachts they only see a few weeks a year and charter them out the rest of the time. Some not so rich people do this as well, often with partners.
@@petem.3719 thank's for your reflection. Interesting ; )
Have people never heard of police/gvt auctions? You can buy cars, boats, etc that have been seized in drug cases. Usually they are not well-taken care of, despite what the DOJ says
What they are supose to do and what they do are 2 different things and when there is several countries and partys involved it can be hard to get someone to pay the bills.
What do you expect? That the goverment deepcleans seized goods? Or repairs the damage a vehicle sustained while running drugs and fleeing from police?
Stolen. Not seized
Thank you for the update, and all the good info! Nice shirt by the way, one of my favorite films.Have seen 017/004 in the pits at the Vintage races in Seattle probably a decade ago, the car did some flying exhibition laps and sounds stupendous.
Excellent update and explanation of how seized superyachts are deal with. Very informative! *
Having been involved with a seizure of a semi-submersible oil rig, I can tell you the winners are: the yard where it is held, due to fee’s and the lawyers. That’s it. No one will get their money’s worth in all this matter, but those two groups.
Sounds about right to me
That is why they should have a quick decision to put them up for sale or scrap them.
What about the person who gets the yacht at half price?
@@AtSeawithAri There are a few American Billionaires that lust after a superyacht. The fire sale for these ships is about to happen.
@@95SLE especially when they can get something like Dilbar for 100 million, you’re 100% right
Thanks for your great videos. They are always very engaging and informative! I had no interest in super yachts until coming across your channel, and now always look forward to your latest updates and have also started working my way through your back catalogue. If it's possible, I'd be very interested to hear you interview others from around the industry such as crew, captains, yacht management companies, insurers and ship builders, and what about law enforcement agencies as well!! It would be interesting to hear their views on the different impacts on the super yacht world as a result of the Russian sanctions. Could that be possible? Cheers, Dave
I feel exactly the same. Now I look forward to eSysman's daily video update, and have developed an interest in super yachts -- a positive, I guess, result of the war. I second your request for interviews.
Great job love the updates...... Hoping to see some new yacht shows happening this season would love to see it from your dock walking Pointview. Would love to see some of the VIP clubs and parties happening also
Never dull here. The great updates just keep coming. Great job!
Thanks for the good explanations. I'm interested especially in the current state of things, to know what does happen with the sale of the yacht Kahu seized for running drugs. Perhaps you will do a video on that. I enjoy following your channel immensely.
looked like stuff that was legal just over One Hundred yrs ago...
Love how you explain all this to us. Thank you so much..take care..be safe
Another great informative video. Thank you so much. Stay safe and have a wonderful Easter
Great show. Grazie ciao franco
While I don’t dispute the possible criminal activities behind the ill-gotten gains, but what due process and under whose laws did the assets get seized? And what is the FBI doing in Spain? Why does the US government get to enforce its laws worldwide?
Because the super wealthy in the US write the laws and they want a big ship.
It is according to US laws, by the way, if you mean “criminal activity” it isn’t what it is all about, now please ask Spanish authorities how they allow FBI into their country, but strangely how it may sound to you many foreign governments do cooperate with the US.
@@olasek7972 Because we gave them over 3 billion in aid in 2020. Who knows how much in 2021.
@@95SLE joking? Gave to who, Spain? US doesn’t give any aid to a relatively wealthy country like Spain.
I always appreciate the straight skinny! So, that super expensive yacht that almost no one could afford to buy and maintain... if it ever goes to auction I'd guess a group of investors will get together and buy it and Charter it.
But think about it if you had billions and billions of dollars would you want to buy these yachts thinking that somebody would be trying to take them back at some point there's going to become a glut of these overpriced shots on the market at some point in time I guess
@@user-vi2dk1qz5f nobody will dare to buy it ,scared of retalliation
Andy P! that's certainly a plausible scenario. If they go to auction I could imagine there would be companies/consortiums trying for that very plan. Major corporations could certainly use a vessel such as these for various purposes and governments could put them to the same use as well. As others are stating, though, there would be a very negative stigma attached to these yachts. There's even the possibility of some powerful, nasty people who might wish to destroy what they lost as an act of revenge and "If I can't have it, nobody is gonna have it.". I cannot imagine any of those people going through the effort, expense and inevitable prosecution to get their boat back. In my mind that would be a "no win" situation that could only bring more trouble to them.
I have a feeling that at some point in time these seized vessels are going to be used to settle some other issues, such as the issue with the leased airplanes that the Russian government has seized. The Russians should return those airplanes but the Russian government refuses to do that. This war is not going to last forever, and at some point in time all parties are going to settle the financial issues. And I think that these vessels will be very useful for those negotiations. In combination with other frozen or seized assets.
@@insAneTunA those planes are now worthless.
The insurance and airworthiness certification depends upon a documented maintenance schedule. They will have to be written off.
No company will lease to Russia again. Just another of poo tin’s stupidities.
Check the Mentour Pilot TH-cam channel. He has a good overview of this situation.
Always fascinating information on this channel.
So, surprise, surprise, Usmanov the owner of Dilbar, is married to Gymnastics Trainer Lina Viner who set her student, the young gymnast Alina Kabaeva up with Putin after her "Sherherezade" performance won his heart...So explains the related yacht's name 😎
see wikipedia on Usmanov
see:
"Usmanov, who is Muslim, married Jewish rhythmic gymnastics coach Irina Viner in 1992.[30][31] Viner is considered to be close to Putin, having introduced him to former rhythmic gymnast Alina Kabaeva.[32]"
en.m.wikipedia.org/wiki/Alisher_Usmanov
@@acountryforwomen "Usmanov, who is Muslim, married Jewish rhythmic gymnastics coach Irina Viner"
That's some racial and sectarian tolerance the rest of the planet could do with.
@@darthkek1953 Really? They are slaughtering civilians from a different country, pretty sure that over rides and any of your good of 'tolerance' when of a when a bizilionare, horny old fella and a young fit gymnastic coach get together... Wow..
Owning a superyacht could actually be a headache
That's exactly what I was thinking. Maintaining a big, complicated outfit like that, paying fees and fuel, and keeping a decent crew.....wow. The hassle and money. I guess that's why there are management companies for stuff like that. But even more money down the drain there.
expensive hole in the water to throw money into. Any boat that stays in the water is exactly that.
A 90 foot yacht you can move onto with your family, selling the real estate and cars / trucks / suvs to consolidate expenses to the fewest. Then at least you aren't paying for something you are barely using.
This does come with additional problems though.
1) You have to find a marina that will allow a live aboard morage. ( not always easy and nearly impossible in my area )
2) fully operational engines on board are usually required to meet point 1
3) fully insured for point 1 to be possible
4) a lot of places, black and grey water pump outs are an additional expense.
5) haul out and surveys required regularly.
There are benefits as well but you can see where it is not an equal trade-off.
Specially if they can't leave Russia.
Always good information... Thanks so much for updating us.
E ... love the background effects. "Cue the marina seagulls". Great channel! Thanks
Whooo-boy! The lawyers have been busy, busy, busy. Aside from the obvious maintenance costs associated with these incredible vessels, the legal costs must be reaching the neighbourhood of astronomical. If/when they are sold off it would be interesting to get a peek at the spread sheets with the run-down of expenses versus recouped capital. When (if) one sells, probably by auction, there's no way someone will spend anything near the fair market value. It's gonna be reduced and I suspect reduced heavily so I would expect to see a LOT of red ink on those balance sheets heh, heh. Fantastic information here, thanks for doin' this!
Also, maybe the maintenance fees will be added to the purchase.
@@nan7503 maintenance fees can quickly become more than the possible resale market price. Thank you for the crackpot heads who engineered these sanctions. The costs of this nonsense should be deducted from their personal net worth. Macron will become poor again very fast.
@@nan7503 Anything is possible, but that isn't the most common way to do it, especially if it is sold at auction. I'm certainly not claiming to be an expert on the subject, just as I haven't seen every deal at every sale. I'm just commenting based on what I have seen and been aware of.
Do you know how well the governments will take care of those yachts? Well, let's put it this way, those yachts will never be the same again. My best guess is 90% of them will be sold and the oligarchs won't utter a peep about it. The oligarchs know like the rest of us those assets were all ill-gotten gains. I love this shit. TheReaper!
"Do you know how well the governments will take care of those yachts?"
It's not like the clerk from the local DMV will be out there scrubbing decks. There are layers of lawyers, insurance companies, and professional yacht maintenance companies doing all that kind of stuff. Some captain and crew are going to get a sweet gig living in these for the next few years.
Great update ESysman thanks for sharing. 👍🙏 Congrats on 195k subscribers also… 👏👏👏
Love your channel.and your videos are ahead of the news !
When a citizen of the United States is arrested the “arresting body” assumes “responsibility and well being” of the arrested body. (Very nice legal terms). That includes health and welfare of the person that was arrested.
I think all US citizens arrested overseas should expect, as a base minimum, the same "responsibility and well being" the US state showed to the detainees at Guantanamo Bay.
Unless they are ordered to "Epstein" them.
Jan. 6 detainees are locked down 23 hours a day and threatened with all sorts of nasty things. This government doesn't give two chits about what is legal, moral, just, appropriate etc. Why the 30330? Divide the year 2020 by 666 and see what you get. It is already happening. We as a nation are divided like no other time since the Civil War.
Wow I really didn’t expect you to say that they will possibly be up for sale!! That’s going to hurt these oligarchs!!!
I believe that senior officials responsible for the confiscation will disappear without a trace, and so will their family members.
Fascinating info and well explained.👍🏻
Every esysman video is super interesting, great work man!
I'm thinking artificial reefs.
In the U.S. I believe when they seize property and it is sold/auctioned off, the money it brings will go to paying off any bank loans that are owed, and once the property is sold, if it doesn't bring enough to pay the bank loans then the person/s that retained the loans are still liable to pay the bank/s the remaining money that is owed.
If they make money from the sale, that money goes into certain Fed/Government programs. Not sure where money made from these would go, but say they seize a yacht for drug trafficking, then the money made from the sale of that yacht would go into government drug programs.
Maybe in the real world but that world no longer exists. Epstein is most likely alive and well and living in Israel. And where are those WMDs?
Thank you for sharing..
Keep up the terrific reporting!
The guy you said was under house arrest in Ukraine is actually being held by the government... in cuffs, and in a cell.He tried to escape house arrest by was re-arrested before he could flee to Russia!
What a scuzzy dirtbag! What are the odds that they execute him, or even other proven traitors/spies, double agents?
Thank you again for the continued reports. The information on Dilbar seems not to be correct: Based on a report by the news magazine Stern, it still has not been seized ("beschlagnahmt"; Beschlagnahme is probably the best equivalent to seizure).
Apparently the spectrum of possible administrative decisions is quite nuanced and difficult to read from the reports. But most likely it has been "arrested" as you said (not the German "Arrest", for the German readers) so far, to prevent it from leaving and thus being transferred to Russia.
Two things have changed now:
First, by identifying the owner, it it has been established that it is prohibited to perform any work on the ship, because the owner is subject to a "Bereitstellungsverbot" as part of the sanctions. In an earlier comment I wrote that as a yard or craftsman you would not want to attach any stuff to such a ship, because it can lead to immediate transfer of ownership of this material and you breaking the sanktions. Now it is clear, beyond this particular aspect of property law and the fact that you might not have known the owner before, that it is prohibited to work on the yacht.
Second, the yacht is "frozen", as the Stern puts it. "It must not be used for the acquisition of funds, goods, or services, nor be sold, rented, or otherwise used as a source of income."
Frozen vs. seized has two implications: The owner of the frozen ship may still use it personally, i.e. spend a night or two on the docked ship. The more relevant one is, that it is a disaster for Blohm+Voss/NVL. If it had been seized, the government had to pay for keeping the ship somewhere. Now the ship, which is not seaworthy, is just sitting in their dock, burining money. The reports are not clear whether the ship could be moved out of the dock, but I guess NVL would try to negotiate with the authorities now, to at least do some work that allows them to handle the ship better.
This is CLASS reporting !! Stay Safe & Keep Reporting !!
I love your channel..Thank you so much!
I suspect the owners whose boats are seized will have someone bid on their boat to get them back under their control, probably at a huge discount to their original cost. I imagine a number of these giant cash consuming yachts being put up for auction near the same time will depress the bids even further.
What if there is a note on the boat and substantial amount still owed to the manufacturer. Does the Yard have any recourse?
My thought is, like when you buy a car and finance the purchase, you get a loan from a bank. The car manufacturer has been paid but the bank might take it in the shorts. But, these Russians have so much money, I wouldn’t doubt they paid for these boats with cash and no financing.
way to go in clearing up many questions. thanks
Very interesting...thank you for discussing a topic that few are familiar with.
Thank you for going through the process. definitely more involved than just taking the vessel and moring it up. does the price include the fees involved or would those be a separate fee?
What fees?
Governments have navies and naval academies. An entire workforce who lives for ships. They can handle it.
Good point. Put a prize crew on Tango and bring her to Norfolk for "safe keeping."
I'm just a tiny cog... in a big wheel... and you are 1000000 times more insightful on big boats than I am... But, I've worked on US gov't contracts on seizures... I assure you we don't maintain it "as it was when we found it"... we keep it at the near minimum to keep it afloat...we secure it, and seal it and make sure nothing gets stolen - we (generally) protect it against weather and rust and accidental drift and obvious hazards- we check for damage and leaks, etc... but, degradation after a few months is standard.. and more than a year can be significant.
Very educational video here! Thank you
The amount of money these people have is staggering. I'm trying to work out how I'm going to afford a new truck for $35k and these yachts have running costs into the hundreds of millions. Just crazy. I cant even conceive of that much money for an individual.
When you have 20 people siphoning 20% of the countries entire GDP.....
The amount of money that the Russian oligarchs have been stealing from the people for 20 years is amazing nobody else on earth has this kind of wealth
Yeah I can't even imagine the 200 million dollars that Nancy Pelosi is worth! Not to mention all the other politicians that get rich on 170,000 a year!
What were the numbers again? Something like 95% of the entire world's private wealth is own by 2% of the population.
I don't begrudge a rich person who worked for/earned it... I have a little harder time stomaching the absurdly and grossly wealthy however... No one needs a billion dollars. When you hit that zero or anywhere close to it *all* personal income beyond a maintenance trickle should go straight to taxes. >__>
Ya won capitalism, congratulations, now fuck off. But who am I kidding, the super rich would find some loophole or way out of it.
i have not been able to Change The Oil of my old toyota in over one yr. and can't afford the insurance (miami fl)
I hope all the costs associated with the vessels are recouped prior to turning it back over to the owner or selling it.
LOL. I would hate to be the countrythat was so excited to seize/arrest the most Russian yachts. 'Wait what you mean I have to hire a crew to maintain this thing?' I'm guessing $5000-$10k a month for the next 2 to 5+ years? Owners be like, wow what to with this extra 2-3 million dollars a month.
Very interesting. Thanks for sharing.
Thanks for clarifying arrested vs seized 👍
I would look for a charter company to rent the boat and take care of it until sold. They seem more qualified.
True but there are few people who could afford to even rent it. Bill Gates rented The Serene for $5 million per week from a Russian vodka magnate. That 450-foot mega yacht is worth $330 million and boasts 12 staterooms and seven decks
@@TheSnoopy1750 True but even less people who can afford or are willing to buy it. So... is it worthless? not even it costs money, might as well rent it for less than market as long as it pays for it self.
They should be used to house veterans of the war since their homes have been destroyed.
@@murraymadness4674 Yes... would be nice but "nice" is rarely a thing of war, money and business if Ukraine gets some money it would be good enough but I doubt it. Maybe a gun discount they can't refuse.
Arrest is what you get ( a.k.a. Cardiac Arrest ) when your super yacht is seized.
what surprised me is that a lot of these russians own 2,3,4 yachts. One that owned the biggest one, also had a smaller one that carried his guests cars helicopters and more guests
fantastic report thank you
thank you , very informative
When they seize the yacht to exert pressure on a foreign government then they shouldn’t be able to dispose of the boat as the owner has not actually committed any crime.
The fact that they are filthy rich and made their fortune overnight because of their association with Putin is ''actually'' a crime. Pick and chose: they are involved in money laundering, drugs, sex trade, black market, fraud, extorsions, etc.
@@celinedussault3623 but those are laws broken in other countries. The USA or NATO can’t try them on charges committed in another country.
A question related to what you said in the end that few people can afford or wan’t to pay for the running costs. How much, in general terms, do you think these vessels that you talked about would be worth if you were to cut them up for parts (ie engines, generators, tanks, ventilation equip, radars and navi equip, interiors etc). How much can you recuperate from a new or nearly new vesel?
Washington Marine Group picked up all the new engines and other fast ferry assets in British Columbia for about 5 cents on the dollar. And that's a so called "legitimate" auction under normal conditions. !!!
It is obvious that almost nothing really worth it will be recuperated from these boats. The cost of taking it away is already too much. These things are worth something only when kept well and maintained in one piece. They are almost artwork by themselves. Can you recuperate something materially worthwhile by dismantling a Rembrandt ?
Great video ~ thanks eSysman ! 👍
Thank you Yacht Sensei🙏
Fun fact according to estimates the moskva was worth essentially the same amount as the dilbar
I don't think Dilbar is going to join Russia's submarine fleet like Moskva did.
Moskva was worth 600millions?
This 40year old piece of sowjet technology?
Really?
@@frankthetank9332 750 million they estimated
@@USVIsteve Replacement cost for the Moskva is well over $1 billion USD.
What happened to the law. Don’t you have to prove (in a court of law) that these yachts were used to conduct criminal activity or their owner was CONVICTED of committing criminal activity?
Knowing anyone is not a crime.
Being close to war criminals is reason enough.
It's a complicated question and depends on a lot things not the least of which is the laws of the jurisdictional nation. In the US, there would (generally) need to be some kind of criminal or possible civil conviction for the seizure to withstand judicial review. If the government can demonstrate to a court that the yacht itself was directly involved in the money laundering scheme, the yacht could be subject to something known as 'asset forfeiture,' which itself is a very complicated process. TL;dr is under asset forfeiture, a conviction isn't necessarily needed.
They have lots of crimes on these guys - he said it in the video. And the civil forfeiture laws don't work that way - you have to prove your innocence. Been that way for years (no oligarchs seemed to care about it then).
Take from the rich & keep it from the poor?
I think you are correct from a seizure point of view, but arrested because of sanctions is a different ballgame.
Love your updates... Im new to this genre.. very interesting.
another excellent report!
i used to hear you mention the length of the largest yacht dilbar and didn't think much of it, but recently i heard that the mskva that sank was... 180m or so? so..wow a yacht in the vicinity of a cruiser. yikes :-)
@@xpengfangirl7942 the nature of sanctions is to stop existing trade/transactions. if such business existed at all it was probably beneficial to multiple parties. there will always be ripple effects. to expect a sanction to only affect one person/party is unrealistic. think of the oil/pipeline deals that fell through with the oil companies. think of all the ongoing business between banks that came to a halt. they're not complaining publicly because that would be public relations suicide.
@@xpengfangirl7942 All of these shipyards and people working on these vessels knew what they were doing, you live by the sword you die by the sword. You got over 7 million Ukrainians displaced currently.
These are usually "owned" by corporations, not literally private people. Just like jets, airplanes, buildings. etc.
Corporations are persons under the law
@@bipslone8880 But they are not private citizens. They are entities. Corporations can't adopt a baby, go to jail, marry a living person, etc.
@@justayoutuber1906 I never said they are private citizens. You should try reading before you comment.
@@bipslone8880 Justa TH-camr is clearly not very bright... Have some sympathy. He/she has no idea of the definition of a "legal persona". Be gentle...
Absolutely Facinating !! Thank You for work work !! : )
You've answered something I was curious about, thank you, good work.
If Dilbar's build cost was $600 million and if it takes ten years to settle legal challenges before the government sells the boat, and if it costs 2 to 3
% of build cost per year to keep the vessel shipshape at $12 million to $18 million per year, then the break-even cost of a sale will be $120 million to $180 million. In ten year, Dilbar will be 16 years old and although presumably well-maintained, also presumably not upgraded to certification standards. So a buyer would be looking at well north of $200 million for an older boat. Ummm.
never mind - it will be sold on the auction so you can get it even for half price. try your luck.
Someone bought 1990 MY Lady Moura for over 100millions, and sold his 2008 80m yacht mayan queen for it.
Just because it cost $600m doesn't mean it's WORTH $600m. Especially if it's involved in money laundering.
Right! Plus, these rich people barter with other rich people. They hardly deal with currency.
@@EagleArrow How do you know that ?
@@jeffstrongman7889 Agree. Can't imagine someone oiling the teak decks, for instance. Plus the yacht maintenance companies will simply take advantage of the situation and do the minimum required - and they'll all be after the contract as we speak. Money for jam.
@@jeffstrongman7889 I'd say that its "involvement in this" will REDUCE its value, not increase it. Owning one of these yachts would be like sailing around reading someone else's divorce papers, from a nasty divorce.
No billionaire wants to be known for buying someone else's leftovers at a government auction. Nor do they want to worry that an angry Russian oligarch will at some point in time decide "If I can't have my yacht, then nobody can." Or that someone on the other side of the conflict will decide that some particular yacht belongs at the bottom of the ocean.
When a seizing government decides a case is over to their satisfaction, and auctions it, that doesn't guarantee that the losing side can't hold a grudge or be pursuing legal action in yet a different forum. Getting 100% of all countries/ports to recognize ownership after a seizure and auction, probably isn't ever going to happen. And even if they recognize ownership, some countries might still choose to not allow the new owners to enter their ports, for their own reasons. Want to dock in China in 2035? India in 2032? Might not happen, if they blacklist anything that strains their relationships with Russia.
Will places like Malta and Grand Cayman want to be the flag state for these seized yachts if there is still controversy and anger over them, just because some lawyers and some governments say the new ownership is valid, when a country with nuclear ICBMs says they disagree?
I think that some of them will end up being driven onto the beach and broken up at Alang, Gaddani, or Chittagong. It's the equivalent of running a controversial or emotional original document through the shredder. Once you run the medical-drama records of a dead parent, or the arguments/evidence of a divorce case through the shredder, you don't have to look at them again.
There was a report that before this problem with seized yachts of oligarchs, a new yacht jumped in price after being built, because if you want to build a new yacht, you have to wait at least 2 years. So a perfectly new one, with a bit of aesthetic change to taste, is a premium purchase..
Like many of us, not happy to place an order and wait, a billionaire might just offer 10% or more premium, on yacht they like.
I've heard that happens with certain hugely expensive sports cars you have to order and sit on waiting lists to get.
Thanks Great report
You continue to rock it out.
The 10% of build cost equaling yearly running costs is very, very broad brush, almost to the point of not being very useful. The biggest costs are: crew salary, pretty much fixed and the same every year; maintenance, general and refit maintenance is very small for the first 5-7 years but peaks at 2.5 yrs for an out of water survey, a very large survey at 5 years, a monster Special Survey at 15 years and paint jobs at 5-7 year intervals; berthing, water and electricity costs, these are variable depending on programme and location; crew food, pretty much fixed at a per diem; fuels and oils, variable depending on programme. Maintenance, especially refits, and surveys are expensive but in the early years of the yacht they are far less than the latter years as more work needs to be done as the yacht ages. In many cases an old yacht worth 5 million may need a major refit and survey costing 2.5 million. A new yachts' annual costs are generally less than 5% per year and 15-20% later, but its cyclical
Exact. In all cases these costs will be transferred from the Russian owner to the European taxpayer who will have no privilege in return, like using the yachts. This is the beauty of totally stupid EEC governments. Amazing that citizens can eat such bullshit without overthrowing their governments nor the unelected bureaucrats autocrats of Brussels..
@@remylagouler1508 What a load of rubbish. The costs of looking after the vessel whilst it is seized, which is not large, will be recovered from the sale price. There will be no cost to the taxpayer. The funds received will go to the government central treasury and be used elsewhere, perhaps to educate anti-government dipsticks conspiracy theory whack jobs.
the state newspaper in the netherlands has already announced that all seized yachts will be auctioned in december, it also states that the entire proceeds, excluding the auction costs, will go to ukrainne
"Go to Ukraine". What a scam.
@@markmielke5283 yes!
@@jeffstrongman7889 only suspicious to you because you choose to overlook facts and create conspiracies in your head
@@jeffstrongman7889 it probably has nothing to do with a dad named Joe who has a son named Hunter.
@@JF2it Wow, even an article about something the Netherlands might do, triggers you to talk about a politician in the USA. Guess you were out sick the day they taught geography, and world history.
I love your channel. I love your voice, you seem so kind and I’m really interested all about the yachts. Makes a change instead of always seeing war crimes. Thanks again.
The guy in my pic would love that you’re wearing that shirt! I think it’s pretty cool as well. Keep up the good work.
If these people survive what happens in Russia over the 6 months they’ll just buy new ones.
Yep. even more work to replace all the old ships
I do not think so. I think if this ever goes over, people will die on the assembly line. By that I mean people who have been involved and decided that these yachts should be confiscated.
Tragedies often have silver linings. The horrible events in Ukraine have brought your great channel to a wider audience 👍
There is no silver lining to war, what a bizarre comment.
I'm pretty sure if this guy could give up all his subscribers in exchange for the war to stop he would likely do that.
@@superchickensoup I'm sure that you are correct about that. It's a habit of mine to look for the good that arises out of evil. A u.tube channel is superficial. Some other positive outcomes include the extreme generosity of the Poles, Estonians and others. The increased unity of the Ukrainians, the EU and NATO. The rise of Zelensky. However, any of us would prefer that this tragedy never happened
Thanks for info again good content
Great informations as always. 👍👍👍
As he said, I'm wondering, even if you could afford one of them, the notion that the previous owner might want to do the new owner harm would be offputting. It would be interesting if the governments who have them can have the management companies continue to lease them out to cover the cost of holding them.
Question if the court cases end up with the asset being seized does it have to be sold? Would it be possible to repurpose a ship like dilbar into a hospital that the World Health Organization could use to go to disaster zones or developing countries that don't have a Healthcare System? One more question if court case takes 10 years The Vessel will need a great deal of refitting and updating who's responsible for that? In the case that the yacht is returned could the owner then sue whichever government seized the yacht for depreciation loss of access to the asset?
Good question
They the authorities will have to dry dock them at their expense
They are making the accusations
buy as it at auction
@@marktiltins8845 Doesn't work that way for cars. Shit happens they say...oh well, sue us.
The cost comes out of the value of the asset
@@jeffstrongman7889 first I'm not naive they were simple questions that I was curious of. Have you ever had anything seized by the authorities? I have stupid and you are ignorant they were questions because I can think for myself and have some critical thinking skills and was curious that's what I said does it have to be auctioned? What happens when nobody buys it stupid at auction then the government does what? Even if it is stolen it doesn't matter you can't do anything about it I've had my property seized by authorities and they could give a fuck about what I thought felt or wanted. Maybe you should educate yourself on what can actually happen when they seize assets. They do auction off cars because they are low value assets that are in high demand and they have no use for it. Most of them I should say they do not auction off all of them they do keep and you some but you're too stupid to know that
EXCELLENT AND INFORMATIVE VIDEO!
So interesting. Thanks
Among the long list of property seized from Medvedchuk and his family: 30 plots of land, 23 houses, 32 apartments, 26 cars and one yacht ( Royal Romance). Great video as always sir!
Let's hope the government doesn't have _Dilbar_ for too long. Neglect could be in its future if this is a lengthy (years) process. For the billionaires, if few are bidding, they could potentially get her for a mere 8 figures, instead of 9. ;)
It should go to the Naval Academy then.
Should be destroyed
@@carlmorgan8452 Congratulations on adding to the myriad of moronic comments on here.
At least Dilbar is in the Lurssen shipyard presumably in dry dock, with a small crew to keep an eye on her, inc I believe the Captain. Supplied by Lurssen.
Thank you for all your interesting information and your well presented video
I really like your shirt eSYsman! What a great movie! Like your super yacht news too…👍😛
I have a Tag Heuer Monaco 50th anniversary watch, its my favorite.
What happens to all the contents? I’m sure all of these yachts have millions in personal property on board that could easily “walk away”. Are those items being sold too?
My guess is the 'stuff" is already at the Monaco Pawn Outlet? Do they even have one?
Yes there are several luxury resale shops in both Monaco a d Cannes
This is 4 day public holiday for Easter but shops had long lines on wood Frfzy
Goid info thank you 👍
Another good report 🛳🛥🚤⛵️👍👍👍👍👍👍👍👍