The liquidators of infamous Madoff Securities International are selling the convicted fraudster’s superyacht Bull a 27 metre Leopard, built by Mangusta.
Currently lying at Ocean Marina in Gibraltar, Bull is expected to receive offers over three million euros. At launch in 2007 she had a value of six million euros so could yet prove to be a bargain at half the price for today’s buyer.
The sale is an attempt at recouping just some the victims’ lost money.
Brian Stevendale, Sales & Marketing Director for Gibraltar’s Ocean Village marina, said, “The fact that Gibraltar is now hosting Bull comes as little surprise, although we’d rather not all our visitors had such a colourful history.”
Crafted to Madoff’s particular taste, Bull has been lightly used to the tune of just 320 hours and is ready for use thanks to full out-of-water maintenance in August of last year. The Ponzi principal was fastidious to the last, a clean freak who repeatedly ordered new carpets and prohibited food onboard at all times. As a result she is in immaculate condition and the galley equipment remains as unused as the day it was fitted.
With a cruising speed of 33 knots and a maximum of 42 knots courtesy of twin MTU M92 engines coupled to Arneson surface drives, Bull has six cabins – owners’ stateroom, VIP and guest (all en-suite) alongside three crew cabins – and has been under the stewardship of the same Captain since order date.
Sentenced to 150 years imprisonment in 2009 for the biggest fraud in business history, Bernie Madoff was at the helm of a 20-year-established Ponzi Scheme that managed to vaporize 50 billion USD-worth of investors’ money. Thanks to a bullish attitude and unwavering ability to spout the same, Madoff lived like a king with the head-turning Bull just one of his indulgent toys.
This vessel has been cleared for sale for some time now. €3mil ?? … Well let’s call that ambitious.
“Bull” is Hull 27/37
27/39 – with warranties, sold last summer for €2.1 – a yacht that had never been slept in or food prepared in the galley. A new boat for all practical and economic considerations.
27/38 – is now for sale; “asking” €2.1
Even if the someone feels that the Madoff name adds élan or a certain premimum, she’s still a €1.7mil boat.
Refer to the sale of his other vessels. Bull too will depreciate as aggressively as her sisters.
Very good comments. You proved to be correct.