Still no buyer for Jho Low's superyacht, now at 50% of its original price

Jho Low's luxury superyacht, allegedly purchased with stolen funds of 1MDB, was valued at almost half the original price for which he had bought it. However, there have been no firm buyers for the ship, and yacht maintenance every month costs Malaysia a lot of money.

The Malaysian government seized the Low Taek Jho superyacht Equanimity in August 2018 and put it on sale shortly afterwards with the aim of recovering funds stolen by Low and his cohorts from the 1Malaysia state fund. Development Berhad (1MDB).

Low, the fugitive business man at the heart of the scandal, reportedly paid 250 million US dollars ($ 344 million) for this job. Equanimity is now on sale for its estimated value of 130 million USD (176 million USD), with no firm buyer in sight.

Not an ordinary yacht, Equanimity can very well be considered an object at the height of luxury. It can accommodate 22 passengers, as well as 31 crew members serving these guests. It is a 91 meter (91 meter) vessel with over 10 cabins and a host of other wellness facilities, including a spa, a circular pool on the upper deck, a sauna and a gym. sport. as well as its own art gallery, movie theater and yes, a helipad to boot.

The sale of the yacht is negotiated by Burgess, a firm specializing in this type of item, which sells between one and two luxury yachts per year and whose realization can last between 1 and 2 years.

Although Burgess stated that there were up to 20 buyers for Equanimity, the yacht is proving difficult to sell, even though there are currently very few yachts of this size on the market. market. An auction in November 2018 did not produce a safe buyer.

Potential owners of the Equanimity felt it was too long to travel to Kuala Lumpur to see the ship, as they are used to watching yachts in European ports.

But there are still interested parties from Russia and the Middle East, even from Asia. Rupert Nelson, the main broker of the sale, told Bloomberg: "Some of them are big names in the home in terms of boating. Some will be familiar names elsewhere too.

Malaysia is clearly eager to sell the yacht, with the government spending nearly US $ 500,000 (US $ 677,000) for its monthly maintenance costs. On October 10, the Malaysian taxpayers had already paid 1.15 million Australian dollars for the maintenance of the yacht.

Read about it: Jho Low's $ 344 million yacht auction concludes on November 28

Jho Low's Singapore 344 Million Dollar Auction Ends November 28