Commissioned by a Russian billionaire and ultimately delivered to a powerful, Middle Eastern family, the 110-meter Radiant did more than just mezmerize anyone who sees it. Its build and subsequent sale became a breakthrough public case and enlightened many as to the actual costs in building a megayacht and the processes of selling one.
In early 2004, the late Boris Berezovsky, one of Russia's most influential billionaires, set out to build a 110-meter yacht at Lurssen to be called Darius. After some negotiation, Berezovsky decided to build the yacht, which would cost him €148,540,000, which were payable by installments plus interior fitting costs.
Whereas the size and volume of the yacht is impressive, the most fascinating element of Darius' story lies in the fact that due to public litigation that followed, it became actually known, how much does it cost to build a 110 meter superyacht at Lurssen, a figure that had previously only been estimated and hypothesised. Understandably, every project of this scale is different, however, even a range was difficult to obtain at the time.
As the economic crisis hit, Berezovsky was unable to pay his seventh installment of €23,890,421 in May 2008 and decided to put the yacht on the market as a yacht that was still in construction. The Russian billionaire then contacted brokerage firm Edmiston to sell the yacht and a target of €300 million net of commission and fees was set for the sale.
Whereas in today's economy selling a yacht for nearly double its original building cost may seem to be unreasonable, at the time, it was a common occurrence. Yachts that were ready immediately were considered more valuable than those that still had to be built. This led to many speculation builds and an era of yacht flipping that was sunset by an oversupply as of the early 2010s. In the megayacht market this still exists as one would have recently seen with the sale of the 134-meter Serene to a Saudi Prince for an amount higher than building costs by Russian billionaire Yuri Scheffler.
As is common in the yachting sector, Edmiston contacted Merle Wood, another powerful yacht broker, to help them find a buyer for the 110-meter yacht still under construction. In turn, Wood contacted the captain of a yacht owned by the Al Futtaim family for him to offer this deal to his employers. The captain agreed to do this, asking for a €3 million commission should the deal go through.
Whilst such a number may appear unreasonably high for a simple introduction, it is common in the yachting industry, which works mostly on commission, to have every middlemen involved in the transaction get a percentage of the deal. In this case, €3 million would equate to less than one percent of the total, advertised sales price. For the sale of smaller yachts, brokers routinely take a 10% cut of the total amount.
In July 2008, the Al Futtaim family decided to seriously consider a purchase of the yacht, which led to Edmiston meeting with Berezovsky and agreeing on a 2.5% commission if a net price of €300 million was achieved. After visiting the yard, the Al Futtaims, however, decided that they would rather not deal with brokers and that they would rather deal directly with the owner.
In situations with such high sales prices, it is not uncommon for sellers and buyers to want to deal directly with each other as opposed to with brokers and save on fees. When the broker was the one to introduce the client, this becomes, however, more complicated as to how commissions should be given out. A case that the Darius sale set a precedent for.
At the end of August, the Al Futtaim made an offer of €210 million for the purchase of the yacht. After negotiations, the final price went up to €240 million. By October the deal was closed and the €240 million paid. As these negotiations were held directly between the buyer and seller, Berezovsky decided that Edmiston was not entitled to a commission, a point with which the brokerage firm did not agree.
As a result, Edmiston initiated proceedings in UK courts in 2010, through which the details of the construction and sale of Darius became known, shedding a light as to how such processes take place. In July 2010, UK courts ruled that Edmiston was in fact entitled to a commission of €7,2 million, ie 3% of the sales price. An amount, which Berezovsky appealed.
In trying to assess whether a 3% commission was a fair market rate, more interesting evidence from the yacht brokerage world emerged. Berezovsky had also engaged YachtZoo and Royal Oceanic to find buyers for Darius at rates of 3% and 2.5% respectively. It was also disclosed that a commission of 4% was paid for the sale of Pelorus, a sistership to Darius, which sold for $150 million in October 2003.
The proceedings helped clarify for the industry as a whole the effective broker commission on the sale of larger superyachts, as opposed to the common 10% on the sale of regular sized yachts in the sub €10 million range. On the sale of the 78m Princess Mariana, for example, a 4% commission was paid. In the end, the court agreed to a 2.5% commission for Edmiston for a total of €6 million on the sale of Darius.
A close sistership to the 110-meter Pelorus, famously acquired by Roman Abramovich, Berezovsky's former business partner and the 110-meter Ona, built for Alisher Usmanov, Project Darius remains one of the most significant yachts on the water to this date. The series built on this 110 meter platform remains one of the most successful and emblematic for the German shipyard, which has since been able to build even larger yachts.
Few elements are known as to what amenities Darius, or Radiant as it is now named, has on the inside. Exterior photos show a helipad up on the aft of the yacht's fourth deck as well as an extensive lounging area aft of the yacht's third deck. A beach club and swimming platform can also be found aft of Radiant's lower deck.
Historically one of the most influential and powerful Russian oligarchs, the late Boris Berezovsky started his business career selling Soviet-made cars and foreign cars in 1989 after initially working in scientific research. He first built up an equity in Russian car producer, AvtoVAZ and later gained control of ORT Television, one of Russia's most popular television channels. Together with prolific yacht owner, Roman Abramovitch, he acquired a majority position in Sibneft, a Russian oil company, which constituted the bulk of his net worth.
Valued at $3,3 billion by Forbes, Abdulla Al Futtaim is the owner of the Al Futtaim Group, which is operated by his son, Omar. The exclusive distributor of Toyota and Honda cars in the UAE, it also owns the country's largest insurance company, Orient Insurance.
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Heesen Yachts celebrates the delivery of Solemates (YN 20655), a fully customized 55-meter steel superyacht, to an experienced owner who has chosen the Dutch shipyard for the second time. This milestone underscores Heesen’s reputation for engineering excellence, build quality, and the flexibility of its speculative build program – enabling clients to personalize proven platforms without compromising on time efficiency.Built on Heesen’s successful 55m Steel design, Solemates combines the proven Fast Displacement Hull Form (FDHF) by Van Oossanen Naval Architects with Omega Architects’ sleek exterior lines. The owner, a seasoned yachtsman, leveraged the platform’s inherent reliability to focus on tailored interior enhancements that reflect a family-oriented approach to cruising.Rupert Connor of Luxury Yacht Group noted: "While the changes from the previous model appear subtle, the cumulative refinements across the entire platform elevate this yacht significantly. Heesen’s commitment to continuous improvement shines through."The owner’s deep yachting expertise and hands-on involvement ensured a streamlined build process. Ralf Oortman, Heesen’s Project Manager, remarked: "Their team’s insight into the client’s lifestyle was invaluable. We collaborated seamlessly to introduce standout features, such as the breathtaking atrium – a true masterpiece that sets Solemates apart."Working alongside Silvia Margutti of Luca Dini Design and Architecture, the owner reimagined the interior with vibrant accents, a redesigned main staircase featuring gold-flaked acrylic panels, and an expanded sundeck hot tub area for social gatherings. Every detail was meticulously crafted to enhance onboard living.Following flawless sea trials in the North Sea, Solemates confirms her robust performance and efficiency. With a 760 GT volume, she offers ample space for extended cruising while maintaining the comfort and reliability expected of a Northern European build.Solemates will be available for exclusive charter through Luxury Yacht Group, with her world premiere set for the 2025 Monaco Yacht Show, where she will headline Heesen’s display.Niels Vaessen, Heesen’s CEO, reflected: "Delivering Solemates to a repeat client is a testament to our craftsmanship and the trust owners place in us. This project exemplifies how we blend efficiency with bespoke luxury – creating yachts that exceed expectations."Heesen Yachts is a Dutch ship building company that specializes in custom-built superyachts in aluminum and steel from 30m to 70m in size. Founded in 1978, it has launched more than 170 yachts since its inception.Credits: Heesen Yachts
May 1, 2025
Damen Yachting has successfully launched the first Amels 80. The vessel is the latest addition to the Amels Limited Editions range.The 80-meter superyacht boasts a gross tonnage of 2,175 GT and features a hybrid propulsion system for reduced emissions and improved cruising efficiency. The vessel can accommodate 14 guests across 7 luxurious suites, supported by a crew of 21. Notable features include a foredeck helipad, a 200-square-meter Sun Deck, a private Owner’s Deck, a 6.5-meter swimming pool, and a Beach Club with spa facilities.The exterior design is the work of renowned superyacht designer Espen Oino, while the interior was created by Sinot Yacht Architecture & Design in their first collaboration with Amels. Paul Costerus, Designer Interior at Sinot, commented: “The Amels 80 marks the first collaboration between Sinot and Amels. A project which provided us with the opportunity to develop something truly unique. You will feel at home from the moment you step on board.”The build of the first Amels 80 was managed by Burgess on behalf of the Owner following the yacht’s sale in 2022. Sean Bianchi, Partner and Head of Burgess Technical Services, stated: “We are delighted to see Amels 80, hull number 01 depart her construction dock and enter the commissioning and sea trials phase. This milestone marks the culmination of close collaboration between Damen Yachting, Sinot, and the Owner’s team in crafting a yacht that is truly one of a kind.”Adriaan Roose, Product Design Manager for the Amels 80 series at Damen Yachting, emphasized the balance between customisation and efficiency: “The Amels 80 offered the client many custom options whilst still benefitting from the shortened delivery time. This yacht is the ultimate balance of individuality and efficiency.”The Amels 80 has the following specifications: length overall is 80.00 meters (261 ft), beam overall is 12.50 meters (41 ft), range is 5,000 nautical miles at 12 knots, with delivery scheduled for Summer 2025.Rose Damen, Managing Director of Damen Yachting, expressed gratitude for the collaboration: “With today’s launch of the first Amels 80, we have reached another landmark achievement in the history of Amels. I would like to thank our Client and the team at Burgess for entrusting us with this very special build. We are honoured and excited to see the final phase through to delivery.”Damen Yachting is the yachting division of the Damen Shipyards Group. The shipyard builds and refits Amels superyachts, Xplorer luxury expedition yachts (previously known as SeaXplorer) and Yacht Support vessels. Credits: Damen Yachting
April 30, 2025
Grand Soleil Yachts has introduced its first weekender model, the Grand Soleil Blue, marking a significant departure from its traditional performance and long-cruise yachts. The 32ft 9in (9.99m) vessel is designed for day sailing and weekend getaways, featuring a sustainable build and electric propulsion options.The yacht is the smallest in the Grand Soleil range and sets new standards for recyclability. According to Gigi Servidati, Cantiere del Pardo Chairman, “The GS Blue represents the beginning of a new concept within the Grand Soleil range: a line that is agile, sustainable, fun, highly liveable, and designed for more immediate and flexible use.”The vessel’s design emphasizes performance and comfort, developed by naval architect Matteo Polli and Nauta Design for exterior, interior design, and layout. Polli noted, “The striking hull shape is designed to provide stability when the boat heels, to maximize power upwind. And in light winds, or when running, the narrow waterline beam delivers lower drag and therefore higher speeds.”Sustainability is a core feature of the GS Blue. The yacht utilizes Arkema’s Elium resin in its composite lay-up, allowing for recovery and reuse at the end of its life. The PET core material in the hull’s sandwich construction is derived from post-consumer waste, and the design allows for easy disassembly of components.The yacht offers fully electric propulsion as an option, featuring a 6kW pod drive from ePropulsion powered by a 190Ah lithium battery. This setup provides a range of up to 30 nautical miles at 5 knots, with the option to double that range by adding a second battery pack. The electric system enables silent maneuvering and a top speed of 6.5 knots.Performance-wise, the GS Blue boasts a 2.2m bulb keel (with a 1.8m shallow draft option) and a generous sailplan. It can achieve upwind speeds of 6-8 knots and downwind speeds of 10-12 knots. The design prioritizes easy shorthanded or solo sailing, featuring push-button electric Harken winches.Inside, the yacht offers modern Italian-style amenities including a heads compartment with freshwater shower, an efficient galley with hob, oven, and fridge, and berths for up to four, optimized for two. The interior design focuses on light and space, as highlighted by Massimo Gino, CEO and co-founder of Nauta: “A key element of the interior design is the light scheme, which ensures that even with lower ceiling heights, the yacht feels spacious and welcoming for guests.”The project is co-financed by the Emilia Romagna region as part of the PR-ERDF 2021/2027 program, emphasizing its experimental research and development nature.Cantiere del Pardo was founded in 1973 in Italy. Pardo Yachts, the brand of Cantiere del Pardo dedicated to powerboats, was born in 2016. The first model, the Pardo 43, was launched in 2017. Grand Soleil was founded in 1973 and is famous for its yachts, which ensure performance for regattas, autonomous long-distance navigation, as well as a high level of sustainable consciousness.Credits: Grand Soleil Yachts
April 30, 2025
Feadship has successfully launched its latest superyacht, Project 827, marking another milestone in the company’s history of luxury yacht construction. The vessel was launched at the Royal Van Lent shipyard in Sneek, the Netherlands.Project 827 is a 75-meter motor yacht designed by the renowned studio Winch Design. The exterior design features clean lines and a contemporary aesthetic, while the interior showcases a sophisticated blend of modern luxury and comfort. The yacht boasts a spacious main deck and a large owner’s deck, providing ample living space for its occupants.“Project 827 is a testament to our commitment to innovation and excellence,” said Feadship CEO Henk de Vries. “We have pushed the boundaries of design and engineering to create a yacht that not only meets but exceeds the expectations of our discerning clients.”The yacht’s design emphasizes functionality and comfort. It features a unique layout with a large owner’s deck, offering unobstructed panoramic views. The interior design, also by Winch Design, combines modern materials with classic craftsmanship, creating a luxurious yet livable environment.Project 827 is equipped with state-of-the-art technology and engineering solutions. The yacht is powered by twin Caterpillar engines, providing efficient performance and low emissions. The vessel also incorporates advanced systems for noise and vibration control, ensuring a quiet and comfortable onboard experience.“This launch is a significant moment for Feadship,” commented Project Manager Jan van der Meer. “Project 827 represents the culmination of years of planning and collaboration between our teams and the client. We are proud to deliver a yacht that truly embodies the spirit of modern luxury.”The completion of Project 827 further strengthens Feadship’s position as a leading builder of custom superyachts. The company continues to focus on delivering exceptional craftsmanship and innovative design solutions to its clients.Feadship plans to complete the final outfitting and sea trials before delivering the yacht to its owner later this year. The launch of Project 827 demonstrates the shipyard’s ongoing commitment to excellence in the superyacht industry.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
April 30, 2025
The 56th Southampton International Boat Show will introduce several new features when it returns to Mayflower Park from September 19-28, 2025. Organizers British Marine confirmed a redesigned layout with specialized zones including The Powerhub for powerboats and Angler's Alley for fishing enthusiasts.New additions include: the Boating Academy offering educational sessions, waterside Lounge for premium ticket holders, expanded marina area with grouped vessel displays, on the Water stage featuring high-speed demonstrations. Visitor experiences will include the Try A Boat program with FlexiSail and accessible powerboat rides through Wetwheels. The Shipyard festival area will host live music and family activities, with a headline act to be announced.Ticket prices currently start at £24.99 for adults, with free entry for two children per adult ticket. Marina space remains in high demand among exhibitors, with increased berth capacity for 2025."The 2025 edition represents an exciting transformation," stated British Marine representatives. The event will showcase products ranging from paddleboards to superyachts, though exhibitor lists remain unconfirmed.British Marine, representing over 1,300 UK marine businesses, organizes the annual show which supports an industry employing 38,000 nationwide.Credits: Southampton International Boat Show
April 29, 2025