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.
EIV, a 48.77 meters yacht built by prestigious Italian shipbuilder Rossinavi, is now available for purchase through Northrop & Johnson. Offered at $32,750,000, EIV exemplifies opulence and innovation, blending comfort accommodation with exceptional functionality.Completed in 2020, EIV combines technological sophistication with breathtaking aesthetics. Its unique construction includes a shallow draft of just 2.29 meters, making it ideal for exploring pristine waters worldwide, including those around The Bahamas. Having passed rigorous inspections, EIV remains impeccably maintained.EIV provides lavish accommodation for up to eleven guests across five spacious staterooms, plus quarters for nine crew members. Guests enjoy exclusive spaces such as the main-deck owner's suite, complete with a private study, climate-controlled wine storage, and elegant bathrooms. Guest enjoyment extends beyond the suites. On the main deck, a beautifully furnished salon flows seamlessly into an expansive outdoor terrace. Sliding doors and fold-out balustrades provide al fresco dining options, emphasizing EIV's focus on integrating indoor and outdoor spaces. A top-notch audio-visual setup enhances the entertainment experience, with refined touches like handcrafted leather upholstery adding charm.Upstairs, the bridge feck houses a sky lounge fitted with a wet bar, cinema projection system, and stylish furniture. Guests can dine comfortably here, enjoying sunset cocktails amidst scenic surroundings. The crowning glory lies on the uppermost sun deck – a resort-like oasis featuring a heated swimming pool, hot tub, and ample relaxation zones.Complementing these amenities is an extensive beach club, housing a sauna, bar, shower facilities, and easy access to the tender garage. Outfitted with a versatile AV/IT infrastructure, including Apple TV, Roku streaming devices, and Sonos speakers, everything is managed via user-friendly iPad interfaces.Recent upgrades include fresh carpeting in the master cabin, main saloon, and cinema, alongside upgraded exterior furnishing materials. Technical systems remain meticulously serviced, ensuring flawless operation.Rossinavi is an Italian manufacturer of custom steel and aluminium superyachts 28m in size and larger. The Rossi shipyard was founded in 1970s and is located in Viareggio.Credits: Northrop & Johnson
April 15, 2025
Sunreef Yachts has made significant strides in renewable energy integration with the introduction of its latest innovation – the Solar Skin 3.0 system. Designed to maximize energy harvesting potential, this state-of-the-art system represents a major step forward in solar-powered sailing vessels.Utilizing cutting-edge machine learning techniques, the layout optimization process behind Solar Skin 3.0 ensures precise placement of solar panels for peak efficiency, tailoring configurations to specific yacht models and anticipated usage patterns. To further augment performance, next-generation photovoltaic cells have been installed beneath the biminis, providing additional power even in partially shaded conditions.December 2024 marked another milestone for Sunreef Yachts with the announcement of the first sold unit in its 35-meter Eco Series. These vessels integrate advanced solar panels directly into the hull sides, superstructures, and other surfaces, complemented by high-capacity battery banks and silent electric propulsion systems.A key feature of Solar Skin 3.0 is its intelligent yield optimization capability. By leveraging advanced algorithms, the system dynamically adjusts electrical output based on changing light conditions, particularly in regions obscured by sail shadows or rigging.Building upon the success of the earlier Solar Skin 2.0 model, which achieved remarkable efficiencies of up to 24.8%, the third version continues to push boundaries. Previous iterations demonstrated superior thermal resilience, functioning effectively even at extreme temperatures exceeding 100°C. Moreover, the inclusion of RFID diagnostic chips ensured accurate tracking and monitoring of individual panels' health and performance.With these advancements, Sunreef Yachts solidifies its position as a leader in clean-energy maritime solutions, offering enhanced sustainability features that minimize environmental impacts while delivering premium performance and reliability.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: Sunreef Yachts
April 15, 2025
Unveiled at the Monaco Yacht Show 2024, Almax, the inaugural vessel of Sanlorenzo’s new 50 Steel series, showcases groundbreaking technology that promises to transform luxury yachting into an environmentally friendly experience. Delivered to owner Massimo Perotti in July 2024, Almax integrates advanced innovations such as a Reformer Fuel Cell powered by green methanol-derived hydrogen, ensuring zero emissions for onboard operations.photo by Guillaume PlissonDesigned by renowned firm Zuccon International Project and adorned with interiors crafted by celebrated architect Piero Lissoni, Almax redefines aesthetic norms while incorporating pioneering engineering solutions. The patent-pending Sanlorenzo Hybrid Engine Room (HER) optimally positions critical components within the engine room layout. Collaborating closely with Siemens Energy and marine tech specialist Xenta, Sanlorenzo has implemented a sophisticated hybrid propulsion system known as X-POWER, enhancing both efficiency and navigational capabilities.photo by Guillaume PlissonThe integrated X-POWER system supports three distinct operational modes – diesel-mechanical, diesel-electric, and fully electric – allowing seamless transitions between different types of fuel usage. Developed specifically for Sanlorenzo by Xenta, this system prioritizes maneuverability without compromising performance or comfort. It achieves optimal energy consumption, reducing reliance on auxiliary generators during cruising.Lorenzo Mongiardo, Chief Innovation Officer at Sanlorenzo, underscores how Xenta’s agility facilitated collaboration towards creating a robust yet eco-friendly platform. Through a user-centric interface featuring dashboard displays synchronized with Siemens Energy controls, captains can effortlessly select among various navigation settings, including gear shifting and power management. Additionally, separate activation of backup generators ensures uninterrupted provision of amenities even under diverse operating conditions.photo by Guillaume PlissonHighlighting the significance of their alliance, Mongiardo emphasizes Xenta’s contribution aligning perfectly with Quick Group’s commitment to sustainability. With innovative technologies like the X-POWER system and patented HER, Almax not only meets but exceeds expectations regarding sustainability and performance in modern yachting.Credits: all provided by Quick Group
April 15, 2025
Northrop & Johnson announces the availability of the 6.84m Riva 88' Florida, aptly named Bellissima, currently offered for purchase by brokers Mike Finnegan and Sean Doyle. Her sleek profile, crafted by the acclaimed designers Mauro Micheli and Sergio Beretta of Officina Italiana Design, extends into an interior characterized by timeless aesthetics. Varnished elm wood accents and abundant natural lighting create a sense of airiness and sophistication. Both the main-deck aft and the expansive foredeck provide ample room for relaxed al fresco dining and lounging arrangements capable of hosting up to eight guests.Guest accommodations accommodate up to eight passengers across four distinct staterooms, including a center-line master suite positioned midship for utmost seclusion and tranquility. Two additional guest suites consist of a forward-facing VIP cabin, a double berth, and a twin berth, each accompanied by en suite bathroom facilities. Separately accessible crew quarters accommodate three staff members.Comfort and convenience are assured aboard Bellissima. Modern conveniences abound, including state-of-the-art navigation systems, dual Seakeeper gyro stabilizers, Starlink satellite internet connectivity, and Apple TV integration available in all guest rooms. Ample storage is provided in the commodious garage, sufficient to store a large jet tender and Jet Ski, while a convenient submersible swim platform eases access to the surrounding waters.Bellissima stands out for its ability to transform swiftly from an entirely open layout into a stylish hardtop coupe configuration via Riva's proprietary Pentagraph System, creating the broadest open-concept yacht in its category. Engineered for agile cruising, she achieves comfortable speeds of 34 knots, peaking close to 40 knots when pushed to her limits. Her shallow draft of 1.82m renders her ideally suited for exploring shallow-water destinations such as the Bahamas, Florida Keys, and Miami.The yacht is listed for sale at USD3,500,000.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
April 14, 2025
In a move aimed at reinforcing customer satisfaction and enhancing service delivery across Northern Italy, Azimut Yachts recently announced a groundbreaking partnership with Kora Marine. This agreement positions Kora Marine as the official dealer for Azimut Yachts throughout North-Western Italy – a region known for its rich maritime heritage, modern marina facilities, and global customers with considerable purchasing power.Kora Marine, headquartered in the scenic town of Santa Margherita Ligure, emerged as Azimut's preferred partner following rigorous evaluations conducted by the renowned shipbuilder. Led by industry veteran Francesco Montanella, whose extensive career includes serving as Asia Pacific Sales Manager for Azimut, Kora Marine brings together profound insights into both marine and high-end automobile markets. With his established reputation for catering to discerning clients, he promises to deliver unsurpassed levels of service tailored specifically to meet the needs of Azimut's elite clientele.Strategically vital regions including Piedmont, Valle d'Aosta, Lombardy, Liguria, and Tuscany serve as the primary focus for this alliance. As these territories host many of Azimut's vessels and continue to witness increasing demand for sophisticated services, this partnership aims to strengthen Azimut's regional influence through enhanced communication channels and proximity to boat owners.By joining forces, Azimut and Kora Marine intend to enhance the overall ownership experience – from initial consultation during yacht selection to ongoing post-purchase care. Their collaborative strategy leverages Montanella's expertise in the premium automotive sector, introducing refined standards of service similar to those associated with high-performance cars. Together, they seek to set new benchmarks for customized solutions in the boating industry.As Enrico Chiaussa, Azimut's Chief Commercial Officer for Europe, Middle East, Africa, and Asia Pacific noted, “Expanding our distribution network with Kora Marine reflects our commitment to providing superior service aligned with our brand values.”Echoing these sentiments, Francesco Montanella expressed pride in being chosen to represent one of Italy's leading brands: “We envision delivering a truly unique experience that fuses local wisdom with progressive service strategies. Through harmonizing yachting, hospitality, and luxury automotive elements, we aim to reshape what constitutes excellence in this field.”Azimut Yachts is an Azimut Benetti Group brand. With its Atlantis, Magellano Flybridge, S, Verve and Grande collections, Azimut offers the widest range of 10 to 40 meters.Credits: Azimut Yachts
April 14, 2025