Jaime Botin, part of the Satander banking dynasty, had been caught transporting a Picasso painting on his 67-meter sailing yacht Adix back in 2015. Now Madrid courts have fined the Spanish billionaire for €52.4 million and sentenced him to 18 months in prison.
Tipped off that Botin's permit for the export of the Picasso hadn't gone through earlier, they inspected the yacht and found the painting in the captain's cabin.
Botin, an active art collector, purchased Picasso's "Head of a Young Woman" painting back in 1977 for his collection. In February 2013, he tried to sell the painting at a Christies' auction in London but the art work couldn't leave Spain at their culture ministry's decision.
Spain has some of the strictest laws when it comes to national heritage. According to them, any work of art over 100 years old that is considered culturally important in the view of their culture ministry can be deemed a national treasure, requiring its owner to get a permit in order to transport it out of Spain. Botin's permit was denied back in 2012.
In 2015, Botin, according to Bloomberg, had his driver transport the painting from his Madrid home to Valencia where his 67-meter sailing yacht Adix was docked. When setting sail in June 2015, her captain didn't include the artwork on the list of onboard items. Soon after it set sail for Corsica, from where Botin had chartered a jet to ferry it to Geneva where he intended to keep it according to the publication.
Tipped off that Botin's permit for the export of the Picasso hadn't gone through earlier, they inspected the yacht and found the painting in the captain's cabin.
Adix itself is currently in Australia, finishing up her refit programme at the yard Brisbane. The yacht is set to remain in the South Pacific up to the America's Cup in Auckland in 2021.
The painting found onboard the yacht in 2015 had an estimated value of $27 million, with experts saying it could now be even more. It has since become the property of the Spanish State.
With a net worth valued by Forbes at $1.7 billion, Jaime Botin is the largest shareholder of Spanish bank Bankinter and a member of Spain's most prominent banking families. His great grandfather had founded Spain's largest bank, Santander.
CNB Yachts has unveiled its latest project, the CNB 62, positioning it as an elegant and powerful world cruiser. With three units already sold, the first hull is being fitted out in the state-of-the-art Solaris shipyard in Aquileia, Italy, ahead of its delivery this spring. The remaining units will be delivered by year’s end, a strong indication of the yacht’s early success and appeal.Brand Director Vincent Arnaud describes the CNB 62 as “a perfect example of the CNB spirit,” combining seaworthiness, manageability, and style. Designed by Philippe Briand, the yacht is the successor to the CNB Bordeaux 60, inheriting its balanced, powerful hull and extensive sail plan, making it ideal for ocean cruising.The CNB 62 has been tailored for private owners seeking privacy without requiring a professional crew. Its cockpit design allows single-handed sailing, with lines accessible from the helmsman’s position. The Targa bar, crafted from carbon, keeps the mainsheet out of the cockpit, enhancing safety and functionality.The yacht also features an integrated tender garage and a spacious layout. The forward owner’s suite offers privacy, while the aft cabins accommodate family or guests comfortably. With customizable interiors, the CNB 62 combines performance and luxury, marking a new chapter for CNB Yachts.CNB was founded in Bordeaux in 1987 by two passionate sailors and was integrated into the Beneteau Group in 1992. Until 2008, the company only built custom yachts, the last of which was the 30-meter Chrisco. From 2009, CNB focused on semi-custom yachts and launched very successful models with the Bordeaux 60, the CNB 66 and the CNB 76. In 2021, Solaris took over the brand and integrated CNB production in Aquileia, the Solaris site on the Italian Adriatic. The current model portfolio consists of the CNB 62, the CNB 78 and the CNB 88.Credits: CNB Yachts
January 10, 2025
The Italian Sea Group has announced a significant increase in sales of the Tecnomar for Lamborghini 63 motor yacht, a collaboration with Automobili Lamborghini that has gained global recognition since its launch in 2020. The yacht’s distinct combination of sporty aesthetics, luxurious features, and impressive performance has resonated with owners worldwide, including families and female buyers.The Tecnomar for Lamborghini 63 has been a standout presence across the Mediterranean, frequenting destinations such as Monaco, Cannes, Ibiza, and Capri. Beyond Europe, its reduced draft has facilitated its popularity across the United States, spanning the East and West Coasts. The yacht has also found success in the Middle East, with notable adoption by superyacht owners in Dubai and Abu Dhabi, further bolstering the Group’s reputation in the region. In the Asia-Pacific region, the vessel’s presence in Sydney and Perth harbors signifies another milestone in its international appeal.Designed to embody Lamborghini’s automotive essence, the yacht features advanced performance capabilities, cutting-edge technology, and Italian design. It has earned accolades such as Robb Report’s “Best Motor Yacht Weekend Cruiser” and the International Yacht & Aviation Award for “Motor Yacht under 25 meters.”Collaborations with Acqua Marine Yacht Monaco and CRM Maritime Ventures LTD aim to expand the Tecnomar brand further, ensuring its ongoing global success.The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: The Italian Sea Group
January 10, 2025
The 49.9-meter motor yacht Tsumat, built by Trinity Yachts, has been sold after a substantial price reduction of USD9 million. Frank Grzeszczak Sr. of FGI Yacht Group represented the seller, while Yannis Zagorakis of Hargrave Yachts acted on behalf of the buyer. The sale follows Tsumat’s prominent display at the Fort Lauderdale International Boat Show (FLIBS), where the adjusted asking price drew considerable attention.Delivered in 2012 by the U.S.-based Trinity Yachts, Tsumat features an aluminum hull and superstructure. The yacht’s design was helmed by Geoff Van Aller, with interiors crafted by Ramon Alonso. A comprehensive, multi-million-dollar refit in 2023 brought modern updates to the vessel, enhancing her appeal on the market. Notably, Tsumat is the last yacht from Trinity’s 164 range, a hallmark of the shipyard’s craftsmanship.The 499GT yacht accommodates 12 guests in six cabins, including a master suite, VIP cabin, three double cabins, and one twin cabin. Crew quarters are available for 10 personnel. Unique design features include lattice woodwork incorporated into the deckheads, extending the aesthetic into both interior spaces and exterior deck overhangs.ABS-classed and powered by twin 3,384hp Caterpillar diesel engines, Tsumat achieves a top speed of 23 knots and a cruising speed of 18 knots, with a range of 3,000 nautical miles.Tsumat's last known asking price was USD17,499,000.Credits: FGI Yacht Group
January 10, 2025
Vitters Shipyard has announced the launch of its latest creation, the 44-meter sailing yacht Magic. A collaborative effort between the Dutch shipyard and a team of renowned designers and engineers, Magic represents a significant milestone in modern yacht building. Naval architecture was handled by Reichel/Pugh, with interior design by Design Unlimited and styling by Pieter Laureys.The yacht first emerged from the construction shed in Zwartsluis, Netherlands, on January 3, after 30 months of meticulous construction. Her sleek, modern design stood in stark contrast to the tranquil green fields and the charming village setting. On January 7, Magic was launched into the cold waters of Amsterdam, marking a pivotal moment in her journey. Her 62-meter Southern Spars rig was stepped on January 8, completing the yacht’s striking silhouette. Commissioning and sea trials are scheduled to take place in Amsterdam ahead of her February 2025 delivery.Magic is a contemporary cruising sloop designed with dynamic lines and an emphasis on both performance and comfort. Measuring 44 meters in length and with a beam of 9.66 meters, she accommodates 10 guests in luxury, supported by a crew of seven. Her fixed keel allows for a draft of 4.8 meters, while her innovative design incorporates features such as a covered cockpit for all-weather protection and a spacious aft deck for relaxation. The transom hatch opens to reveal a convertible beach club, offering seamless access to the water.Powered by a conventional drivetrain with a controllable-pitch propeller, Magic also includes a battery bank capable of providing silent operation for up to eight hours. All winches, furlers, tensioners, and other sail-handling equipment are hydraulically powered by systems engineered and built in-house by Vitters. To maintain a clean bow and foredeck, Magic employs two submarine anchors, further enhancing her streamlined aesthetic.The yacht’s interior is a showcase of craftsmanship by List, featuring a modern design that flows harmoniously from the full-beam master cabin aft to the forward crew quarters. High-quality materials and thoughtful detailing ensure a seamless blend of elegance and practicality throughout.After delivery, Magic is set to head to the Mediterranean for her maiden voyages. Notably, her current owner has listed her for sale, with Burgess acting as the Central Agent, represented by Eleonora Pitasso. Vitters Shipyard is a Dutch high-end performance yacht builder. The shipyard was founded in 1990 by Jan Vitters. The company delivered the first luxury sailing boat, the 28m Aphrodite, in 1993. Vitters Shipyard has a crew of dedicated engineers and craftspeople who have a strong eye for detail and the passion to exceed the expectations of its yacht owners. Credits: Vitters
January 9, 2025
Tankoa Yachts has introduced its latest full-custom superyacht, Diamond Binta, at the 2024 Monaco Yacht Show. This 58-meter vessel, signed in 2021 and delivered in the summer of 2024, represents a significant evolution in the Italian shipyard’s boutique approach to yacht building. Designed for long-range cruising, Diamond Binta combines Tankoa’s technical expertise with the refined aesthetic vision of Francesco Paszkowski Design Studio.The owner of Diamond Binta, a returning client of Tankoa, sought to expand on their previous experience with the 50-meter S501 Binta d’Or. The goal was to create a larger yacht tailored to their lifestyle, offering a distinctive style, advanced functionality, and long-range capabilities. Guided by Tankoa’s commitment to customization, the shipyard collaborated closely with the owner and the design team, ensuring every detail reflected their vision.The yacht features modern amenities such as a spacious beach club with seating, a treatment room illuminated by glass walls and skylights, and a top-deck gym with panoramic views. A helipad on the upper deck, a nine-meter tender garage, and a main-deck master suite with a private drop-down terrace showcase the yacht’s luxurious functionality.Interior highlights include extensive use of oak in various finishes, a neutral color palette, and bespoke furniture. Materials such as leather, metal, and marble enrich the décor, with custom-designed pieces complementing high-end furnishings from Minotti and Poltrona Frau. Unique design elements include curved ceilings with integrated LED lighting, asymmetrical motifs in carpets and cabinetry, and rounded furniture forms that create a cohesive, modern aesthetic.The lower deck features an innovative corridor with panoramic windows into the engine room, demonstrating the owner’s passion for engineering. Five guest cabins, including two with Pullman beds, accommodate up to 12 guests, while the full-beam master suite includes a lounge, study, and spa-like ensuite bathroom.According to Tankoa CEO Vincenzo Poerio, Diamond Binta embodies the shipyard’s ability to “realize and enhance the dreams of an owner.” The yacht’s maiden voyage will take her to the United States, where she will debut at the 2025 Palm Beach International Boat Show, showcasing her blend of craftsmanship, innovation, and luxury.Tankoa was founded in 2007 and began production in 2008. A true “boutique shipyard”, focused on building semi-custom and custom constructions 45-meter and up.Credits: Tankoa
January 9, 2025