300 million dollar yacht

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Russian oligarch's $300 million mega-yacht, the Amadea, seized in Fiji

By Graham Kates

Updated on: May 5, 2022 / 11:34 AM EDT / CBS News

Fijian officials have  seized a massive Russian-owned  yacht worth more than $300 million, the U.S. Department of Justice said Thursday.

Two days earlier, a Fiji court authorized a U.S. warrant for the seizure of the ship, the Amadea, which American authorities say is owned by billionaire oligarch Suleiman Kerimov, who built his fortune in gold mining. Kerimov was  sanctioned  in March by the United States, United Kingdom and European Union in response to the Russian  invasion of Ukraine . The Justice Department said in a press release that Fijian law enforcement executed the seizure of the Cayman-Islands flagged vessel Thursday. 

"There is no hiding place for the assets of criminals who enable the Russian regime," Attorney General Merrick B. Garland said in the press release.

The court's ruling came despite the objections of a lawyer for Millemarin Investments, the company the 348-foot ship is registered to, who said it's not owned by Kerimov. Instead, he argued in court that corporate paperwork traces the Cayman Islands-flagged ship's ownership to Eduard Khudainatov, a former executive at Russia's state-owned Rosneft oil company who has not been sanctioned. 

Khudainatov has been tied to another even larger yacht that is the focus of intense international speculation and investigation in Italy. Local media there have said the $700 million Scheherazade — one of the world's largest yachts, which U.S. officials reportedly suspect may be tied to Russian President Vladimir Putin — is registered to him.

Kerimov and Khudainatov could not be reached for comment. The company appeal Tuesday's decision and Fiji's court was expected to rule on the appeal Friday. It is not clear why authorities moved to seize the Amadea before that ruling was made.

The office of Fiji's top prosecutor, which handled the case, could not be reached for comment.

The Amadea berthed in Fiji on April 13, according to local reports and the maritime analytics website Marine Traffic. That day, a federal judge approved a warrant for the ship to be seized and on April 19, Fiji's top prosecutor moved to prevent the ship from leaving.

The warrant claims the yacht had traveled "from the Caribbean, through the Panama Canal, to Mexico, then to Fiji," a route U.S. officials believed meant Kerimov may have been "making plans for the Amadea to travel to Russia in an effort to avoid U.S. efforts to seize the vessel."

• Russian oligarchs moving yachts as U.S. tracks down assets

On April 4, the agency announced that Spanish authorities had assisted it in seizing another Russian yacht, the $90 million Tango, which was owned by Viktor Vekselberg, the owner of the Russian conglomerate Renova Group.

Legislation passed by the House of Representatives on April 27 would allow the U.S. to sell the yacht and other properties worth more than $2 million seized from  Russian oligarchs  in order to fund the Ukrainian war effort. President Joe Biden supports the bill, which has yet to pass the Senate.

"We're going to seize their yachts, their luxury homes and other ill-begotten gains," Biden said on April 28 at the White House.

Graham Kates is an investigative reporter covering criminal justice, privacy issues and information security for CBS News Digital. Contact Graham at [email protected] or [email protected]

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$300 Million Yacht of Sanctioned Russian Oligarch Suleiman Kerimov Seized by Fiji at Request of United States

Fijian law enforcement executed a seizure warrant freezing the Motor Yacht Amadea (the Amadea), a 348-foot luxury vessel owned by sanctioned Russian oligarch Suleiman Kerimov. Fijian law enforcement, with the support and assistance of the FBI, acted pursuant to a mutual legal assistance request from the U.S. Department of Justice following issuance of a seizure warrant from the U.S. District Court for the District of Columbia, which found that the Amadea is subject to forfeiture based on probable cause of violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA), money laundering and conspiracy.

The U.S. Treasury Department’s Office of Foreign Assets Control designated Kerimov as part of a group of Russian oligarchs who profit from the Russian government through corruption and its malign activity around the globe, including the occupation of Crimea. In sanctioning Kerimov, the Treasury Department also cited Kerimov as an official of the Government of the Russian Federation and a member of the Russian Federation Counsel.

According to court documents, Kerimov owned the Amadea after his designation. Additionally, Kerimov and those acting on his behalf and for his benefit caused U.S. dollar transactions to be routed through U.S. financial institutions for the support and maintenance of the Amadea.

“This ruling should make clear that there is no hiding place for the assets of individuals who violate U.S. laws. And there is no hiding place for the assets of criminals who enable the Russian regime,” said Attorney General Merrick B. Garland. “The Justice Department will be relentless in our efforts to hold accountable those who facilitate the death and destruction we are witnessing in Ukraine.”

“Last month, I warned that the department had its eyes on every yacht purchased with dirty money,” said Deputy Attorney General Lisa O. Monaco. “This yacht seizure should tell every corrupt Russian oligarch that they cannot hide – not even in the remotest part of the world. We will use every means of enforcing the sanctions imposed in response to Russia’s unprovoked and unjustified war in Ukraine.”

“This seizure demonstrates the FBI's persistence in pursuing sanctioned Russian oligarchs attempting to evade accountability for their role in jeopardizing our national security,” said FBI Director Christopher Wray. “The FBI, along with our international partners, will continue to seek out those individuals who contribute to the advancement of Russia’s malign activities and ensure they are brought to justice, regardless of where, or how, they attempt to hide.”

“This seizure of Suleiman Kerimov’s vessel, the Amadea, nearly 8,000 miles from Washington, D.C., symbolizes the reach of the Department of Justice as we continue to work with our global partners to disrupt the sense of impunity of those who have supported corruption and the suffering of so many,” said Director Andrew Adams of Task Force KleptoCapture. “This Task Force will continue to bring to bear every resource available in this unprecedented, multinational series of enforcement actions against the Russian regime and its enablers.”

“The U.S. Marshals Service will continue to contribute our expertise in support of Task Force efforts to take possession of seized assets of Russian oligarchs during these forfeiture operations,” said Director Ronald L. Davis of the U.S. Marshals Service. 

The seizure was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls, and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russia’s unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2 and run out of the Office of the Deputy Attorney General, the task force will continue to leverage all of the department’s tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression.

Upon receipt of a mutual legal assistance request from the United States, Fijian authorities executed the request, obtaining a domestic seizure warrant from a Fijian court.

The Amadea, International Maritime Organization number 1012531, is believed to be worth approximately $300 million or more. The yacht is now in Lautoka, Fiji.

This matter is being investigated by the FBI’s New York Field Office with assistance from the FBI Legal Attaché Office in Canberra, Australia, the Department of State’s Diplomatic Security Service, and the U.S. Embassy in Suva, Fiji.

Trial Attorney Andrew D. Beaty of the National Security Division’s Counterintelligence and Export Control Section and Trial Attorney Joshua L. Sohn of the Criminal Division’s Money Laundering and Asset Recovery Section are handling the seizure. The Justice Department’s Office of International Affairs, the U.S. Attorney’s Office for the District of Columbia, Customs and Border Protection, and the U.S. Marshals Service provided significant assistance. The United States thanks the Fijian authorities for their cooperation in this matter.

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Most Expensive

The 20 most expensive yachts in the world.

What are the most expensive yachts in the world?

If you have a passion for sailing or can appreciate the engineering masterpieces mentioned below, then this is an article for you. 

To be able to afford even afford the cheapest superyacht on our list, your net worth will need to be in the hundreds of millions, if not, billions range!

Here’s a list of the 20 most expensive yachts in the world…  

Table of Contents

The list of yachts and figures mentioned below have been compiled from various sources around the web, such as Luxhabitat , List25 and Unilad . 

These are the 20 most expensive yachts in the world:  

20. Lionheart – $150 Million

Sir Philip Green kicks off the list with his 207-foot behemoth, Lionheart.

The British retail billionaire commissioned Italian shipbuilding company, Benetti, to build his superyacht.

The boat has six VIP rooms, several private balconies and was finished in 2016.

Lionheart has had many famous faces walking its decks, including Kate Moss , Simon Cowell and Cristiano Ronaldo .

19. Aviva – $150 Million

British billionaire Joe Lewis’s superyacht comes in at number nineteen at a cool $150 million.

His boat has a full-size tennis court and is thought to house some of his most precious and expensive art pieces, including Picasso.

When he’s not spending time in his Bahamas residence, Joe spends several months a year aboard Aviva and his other three superyachts.

18. Solandge – $180 Million

Next up, we have the $180 million dollar superyacht built by Lurssen. 

In 2017, the Solandge was the highest brokerage and is available to rent for around $1.1 million a week.

The 280-foot yacht has eight VIP suites, a grand piano and a glass art installation by Murano.

17. Ecstasea – $200 Million

Built by Russian oligarch Roman Abramovich in 2004, Ecstasea was the largest Feadship ever built.

The yacht is made of steel and is approximately 85.95 metres long and has a beam of 11.50 metres. This means it has a deadweight of 585 metric tons!

Ecstasea comfortably sleeps 14 passengers and has won multiple design awards for its stunning interior.

16. The Rising Sun – $200 Million

The Rising Sun was designed by Jon Bannenberg and built by Lürssen in 2004 for Larry Ellison .

It has 82 rooms over five floors, a basketball court, wine cellar and a movie theatre.

From 2010 it has been owned by David Geffen and is the 12th largest superyacht in the world, measuring 138 metres.

The Rising Sun cost $200 million to build and has since had even more money spent on luxury fixtures and fittings.

15. Octopus – $200 Million 

Designed and built in 2003 for Microsoft Co-founder, Paul Allen, Octopus has one hell of a lavish interior.

It has a large study, basketball court, recording studio, an outside bar with a whirlpool and a glass bottom swimming pool.

Octopus sleeps up to 26 guests and 56 crew members at any one time and comes equipped with two submarines and two helipads. 

14. Lady Moura – $210 Million

The next most expensive superyacht in the world is Lady Moura.

Lady Moura is owned by Saudi Arabian businessman Nasser Al-Rashid, who’s also an advisor to the Saudi Royal family.

The yacht comes with some very impressive features, such as a pool with a retractable roof, a helicopter and 24 karat gold lettering and embellishments throughout.

If that wasn’t enough, Lady Moura also features a unique sand-covered hydraulic platform that comes out of one side, to give guests a beach-like experience in the middle of the ocean.

13. Al Mirqab – $250 Million 

Al Mirqab is owned by Sheikh Hamad bin Jassim bin Jaber Al-Thani, the former Prime Minister of Qatar.

The yacht has 10 bedrooms, a helipad, a swimming pool, a selection of VIP suites, an onboard cinema, jacuzzi and a variety of watersports equipment.

After it was completed in 2008, it was dubbed the second most beautiful yacht in the world.

It can accommodate up to 24 guests and comfortably house crew members in its 55 crew cabins.

12. Dilbar – $256 Million

Number twelve is Russian owned superyacht, Dilbar.

It belongs to Russian oligarch Alisher Usmanov, and he’s often seen using Dilbar to cruise around his private islands.

As well as being one of the most expensive yachts in the world, it’s also one of the largest – measuring a colossal 360ft in length and just over 50ft high.

It was built in 2008 by Lürssen Yachts and was named after Alisher’s mother.

Dilbar has one helipad, several swimming pools and accommodates 20 guests and 48 cabin crew.

11. Pelorus – $300 Million

Pelorus was built by Lürssen in 2003 and bought by Russian billionaire, Roman Abramovich in 2004.

Since then, Pelorus has changed hands a few times and is now owned by HongKong based billionaire, Samuel Tak Lee.

Pelorus is 115 meters long and weighs a staggering 5517 tonnes.

As well as all the normal luxuries you’d expect to find onboard a superyacht of this calibre, she also comes equipped with two helipads, landing boats and jet skis.

She accommodates a full-time crew of 46, year round.

10. Serene – $300 Million

The tenth most expensive yacht in the world is the 439-foot, Serene.

Built-in 2011 by Fincantieri, for Russian billionaire Yuri Scheffler, Serene is has been one of the favourite rental yachts for the mega-rich, reportedly costing celebrities like Bill Gates around million a week!

It was purchased in 2015 by Prince Mohammed bin Salman of Saudi Arabia and sleeps around 24 guests and 52 crew members.

It comes with multiple swimming pools, two helipads, a submarine, and an amazing underwater viewing room!

9. Al Said – $300 Million

The next mega yacht on the list is owned by and named after the Sultan of Oman, Qaboos Bin Said Al Said.

Built between 2007-2008, little else is known about the Al Said, other than it has a large concert hall that’s big enough to house a 50-piece orchestra.

Also, it can host up to 70 guests, sleep a crew of 154 and reach around 22 knots!

8. Radiant – $320 Million

Built by Lürssen in 2009, Radiant is owned by Emirate Billionaire Abdulla Al Futtaim.

The superyacht is roughly 110 meters long, weighs approximately 5027 gross tons and sleeps up to 20 guests and 44 crew members.

She comes with multiple swimming pools, a helipad, a massage room, a swimming platform, a movie theatre, a gym and a jacuzzi.

The Radiant is also equipped with a highly powerful water cannon to defend herself from pirate attacks!

7. Dubai – $400 Million

Dubai is owned by the Sheik of Dubai, Mohammed Rashid al-Maktoum.

Some of its features include jacuzzis, a swimming pool with handmade tiles, a helipad and a striking circular glass staircase which changes colour when lit from above.

Dubai also houses a split-level owner’s deck, several VIP and social areas, guest suites and a crew of up to 115 people.

6. Motor Yacht A – $440 Million 

This very impressive looking 390-foot superyacht was built by Blohm + Voss shipyard and launched in 2008.

It’s thought to be owned by Andrey Melnichenko, a Russian billionaire businessman and philanthropist.

Motor Yacht A can accommodate 14 guests and 42 crew members and is around 400 feet long.

It features a 2,500 sqft master bedroom, a disco, a helicopter hanger, a separate 30-foot speedboat and a glass-bottomed swimming pool.

Awesome! 

5. Topaz – $527 Million

Coming in at number five is this stunning Lürssen built superyacht, Topaz.

She was built for Abu Dhabi tycoon, Sheikh Mansour bin Zayed Al Nahyan in Germany and launched in 2012.

The exterior was designed by Tim Heywood and Terrance Disdale Design did the interior.

It has a large jacuzzi on the main deck, a swimming pool, double helicopter landing pads and a state-of-the-art gym, cinema and conference room.

4. Azzam – $600 Million

This 590-foot megayacht is the world’s largest yacht to date.

Its owned by Sheikh Khalifa bin Zayed al-Nayan, President of the United Arab Emirates and Emir of Abu Dhabi.

Lürssen Yachts are the ones behind this mega build. Azzam has its very own missile defence system, a bullet-proof master suite and can reach speeds of more than 30 knots, or 35mph, making it one of the fastest yachts on the planet!

3. Streets of Monaco – $1 Billion

The first billion-dollar yacht on our list is the “Streets of Monaco”.

By far one of the most impressive and expensive yachts in the world, once finished, the Streets of Monaco is going to be a 509-foot mega yacht, designed to feature miniature versions of some of Monaco’s and Monte Carlos most renowned landmarks.

The finished superyacht will include a go-kart circuit, three swimming pools, a mini-submarine a helipad, seven guest suites, a mini waterfall and a restaurant that with a fabulous underwater view.

2. Eclipse – $1.5 Billion 

The second most expensive yacht in the world, Eclipse, is owned by Roman Abramovich.

The Russian billionaire has spared no expense when it comes to his superyacht.

He’s installed a private defence system, including missile detection sensors, intruder alarms and armour plating and bulletproof windows in his master bedroom. 

On top of that, Eclipse has two helipads, two swimming pools, 24 guest bedrooms, a disco hall and a mini-submarine.

It’s unclear how much Eclipse actually cost, but it is believed to be in the region of $1.5 billion!

1. History Supreme – $4.8 Billion

Topping the list of the most expensive superyachts in the world at an eye-watering $4.8 billion is History Supreme.

This magnificent accomplishment is built from 10,000 kilograms of solid gold and platinum and is 100-foot long.

It was designed by Stuart Huges, a world-renowned luxury designer, for Malaysia’s richest man, Robert Knok. The History Supreme took roughly three years to build and features an array of luxury items.

The master bedroom includes a genuine Tyrannosaurus Rex bone statue and a wall made entirely of meteorite rocks!

If that wasn’t enough, the master suite also has a 24-carat gold Aquavista Panoramic Wall Aquarium.

We hope you enjoyed our list of the 20 most expensive yachts in the world.

How cool would it be to spend a few months a year cruising the world on one of these bad boys!

Here’s a quick recap of the 20 most expensive yachts in the world!

• History Supreme – $4.8 Billion
• Eclipse – $1.5 Billion
• Streets of Monaco – $1 Billion
• Azzam – $600 Million
• Topaz – $527 Million
• Motor Yacht A – $440 Million 
• Dubai – $400 Million
• Radiant – $320 Million
• Al Said – $300 Million
• Serene – $300 Million
• Pelorus – $300 Million
• Dilbar – $256 Million
• Al Mirqab – $250 Million
• Lady Moura – $210 Million
• Octopus – $200 Million 
• The Rising Sun – $200 Million
• Exstasea – $200 Million
• Solandge – $180 Million
• Aviva – $150 Million
• Lionheart – $150 Million

What’s your favourite most expensive yacht? Leave a comment below.

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Matt McIntyre is a digital marketing consultant and certified marketing strategist. When he's not talking about business or marketing, you'll find him in the gym.

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The 20 Most Expensive Tequilas in the World

What are the most expensive tequilas in the world?

Tequila is one of the most popular liquors in the world and, in the United States alone, nearly 20 million 9-liter cases are consumed every year!

Whether you’re drinking it neat or mixing it into a margarita, you probably have a favorite brand that you know tastes great.

However, some brands can get incredibly expensive, and it is these tequilas that we are counting down today.

How did we select this list of tequilas?

We’ve put over 10 hours of research into re-writing and updating this list for 2024.

The tequilas on this list were selected by taking the current average sale price, at the time of writing.

Prices for rare tequila can vary depending on where they’re listed for sale; so for each tequila on this list, we checked the price across multiple websites and settled on the average.

Next comes the question, when does tequila stop being tequila, and start being artwork?

If you’re a fan of tequila you can probably think of at least one brand that treats their bottles as artwork.

These bottles can often be worth thousands, but is it all just similar tequila in a fancy and unique bottle?

We’ve decided we’re not going to be the judge of what’s tequila and what’s artwork, so what you see on this list reflects a true order, based on price per bottle.

The 2 Most Expensive Tequilas in the World

Tequila is a very versatile liquor and there is no shortage of varieties you can find at your local store.

That said, some of these tequilas are reserved for only the most wealthy buyers, and you certainly won’t want to drink them on a casual night out.

Without further ado, here’s our list of the 20 most expensive tequilas money can buy:

20. 1800 Coleccion Tequila

Price/Bottle: $2,000

This unique expensive tequila gets its name from the year that distillers started using oak barrels for aging, and it is owned by the insanely wealthy Beckmann family.

Distilled twice during its 10-year aging process, this tequila has a flavor reminiscent of Amaretto, but with a bolder kick that reminds you that it’s tequila.

For $2,000, this tequila comes in its own crystal decanter trimmed with pewter and securely placed in a lavish case lined with suede to protect its precious contents.

It doesn’t get much more high-end than that!

19. Barrique de Ponciano Porfidio

Price/Bottle: $2,200

Made from 100% agave, Barrique de Ponciano Porfidio is a luxury tequila that has been aged for 10 years in French oak barrels and it is limited to special batches of only 2,000 bottles per year.

While its purity does impact this tequila’s price, the bottle that it comes in also makes it more expensive.

Each bottle comes with lettering and images engraved with one of the most expensive precious metals in the world, 21-karat gold.

It definitely looks and tastes every bit worth its hefty price tag.

18. Clase Azul Extra Añejo Ultra

Price/Bottle: $2,500

The first Clase Azul product to appear on this list is the only one in regular production and not a limited edition.

Clase Azul’s extra anejo ultra is aged for 5 years in American whiskey and sherry casks.

The bottle is decorated in platinum, silver, and 24-karat gold.

You can expect to pay around $2,500 a bottle for this tequila.

17. AsomBroso Reserva del Porto Extra Anejo

Price/Bottle: $2800

This brandy-like tequila is the type of drink that you break out during life’s greatest milestones.

Aged for 10 years in port wine barrels from Portugal, it is mixed with a small portion of white oak-aged tequila before being bottled.

Stored in a bottle shaped like a historical decanter found in an eighteenth-century Portuguese castle, it even comes secured in its own cedar humidor.

Although this tequila usually costs $2,800, you can sometimes get lucky and find it on sale for $1,499, which is honestly a great price, all things considered.

16. AsomBroso The Collaboration 12 Year Extra Anejo

Price/Bottle: $3,000

AsomBroso’s The Collaboration is an extra anejo tequila, aged 12 years in Silver Oak Cellar’s American casks.

The tequila is bottled inside a crystal decanter hand-made by Luciano Gambaro, a famous Italian artist.

The decanter is then packaged in a custom-polished humidor with laser engraving.

A single bottle might set you back $3,000, but there are places where you might be able to get your hands on one for cheaper.

15. Tesla Tequila Limited Edition Anejo

Price/Bottle: $4,000

It does seem that Elon Musk can do no wrong. 

Tesla Tequila started as an April Fool’s joke but quickly became a physical product that sold out immediately.

For the limited edition variant, only 420 bottles were produced, a number that jokingly references a time when Musk said he was going to take Tesla private at $420 a share.

The numbered limited edition variant with matching shot glass is currently selling for around $4,000, whilst the regular variant can fetch up to $1,500.

14. Codigo 1530 14 Year Extra Anejo

Price/Bottle: $4,500

Codigo’s 1530 extra Añejo has been aged inside French White Oak Napa Valley Cabernet wine barrels for 14 years and then finished in French Cognac casks.

This is Codigo’s most expensive tequila they’ve ever produced.

A single bottle is now worth $4,500.

13. Clase Azul Pink Limited Edition Reposado

Price/Bottle: $6,000

This isn’t the first Clase Azul tequila featured on this list, and it definitely won’t be the last.

The ‘Pink’ limited edition reposado was originally released in 2016 for breast cancer awareness, with a percentage of the proceeds being donated to charity.

Just 3000 bottles of the original 2016 version were produced, featuring a white bottle hand-painted with pink artwork.

There have since been one or two other ‘Pink’ breast cancer awareness releases from Clase Azul.

12. Patron Limited Edition En Lalique Serie 3

Price/Bottle: $7,500

Patron’s En Lalique Serie line the creme de la creme of their tequila. 

Whatever we have here is the Serie 3, their latest release, but it’s the least expensive of the three.

The Serie 3 contains a blend of 14 different extra anejo tequilas, aged in 6 different barrel types.

Held in a crystal hand-carved decanter, with decoration inspired by the Weber Blue Agave.

The decanter is stored inside a luxurious wooden box.

Each decanter is numbered, and given the fact that this is Patron’s latest release, you can expect the Serie 3’s price to rise over the next few years.

11. Patron Limited Edition En Lalique Serie 1 Extra Anejo

Price/Bottle: $8000

Patron’s En Lalique Serie 1 uses some of their oldest tequila, presented in a hand-made decanter inspired by Mexico’s Weber Blue Agave plant, topped off with an amber stopper.

Although this bottle cost $8,000, it’s not their most expensive tequila. 

Patron went one step further for their next tequila, but more on that shortly.

10. Dos Armadillos Extra Anejo Sterling Silver

Price/Bottle: $10,000

The Dos Armadillos Extra Anejo uses only an 8-year mature Blue Weber Agave.

The tequila is bottled in their signature armadillo-armored bottle, however, the armor for this edition is made entirely out of sterling silver.

$10,000 is the current price to pick up one of these bottles, a number that’s far more expensive than any other product in their range.

9. Clase Azul Puebla Limited Edition

The Clase Azul Puebla limited edition tequila was released on the 5th of May 2021, to commemorate Cinco de Mayo, or the Battle of Puebla.

Cinco de Mayo is a yearly celebration held on the 5th of May to celebrate Mexico’s victory over the Second French Empire in 1862.

Just 300 bottles were produced and sold with a price tag of $400.

If you wished to purchase a bottle of Puebla Limited Edition today, the price would be more along the lines of $10,000.

8. Clase Azul Dia de Muertos Limited Edition

The Dia de Los Muertos collection from Clase Azul features several individual releases, but with most of them fetching similar prices, we’ve decided to include them in one single entry.

Dia de Muertos, or ‘The Day of the Dead’ as it’s otherwise known, is a traditional Mexican holiday celebrated during November. 

Clase Azul has released a new edition within the Dia de Muertos line annually for the past several years.

Some of the bottle designs for the Dia de Muertos range are spectacular and tend to rise in value once they are no longer produced.

7. Patron Limited Edition En Lalique Serie 2 Extra Anejo

Price/Bottle: $10,500

Patron’s En Lalique Serie 2 is aged and made slowly in small batches to ensure perfect quality.

The bottle is carved crystal, featuring a crystal bee stopper with hand-painted gold accents.

It’s then placed inside a wooden box that spins to open, creating a rather luxurious effect.

We’ve seen prices ranging from $8,000 to $12,000 for this bottle, so if you’re patient you might be able to get it at a good price.

6. Clase Azul Master Artisans

Price/Bottle: $20,000

Clase Azul’s most popular and iconic tequila is their resposado tequila, housed in a blue and white bottle.

In 2021, the brand collaborated with the award-winning artist, Ángel Santos to create a hand-crafted, limited edition resposado.

The ‘Master Artisans’ line aims to highlight the work of Mexico’s most talented artists.

The Ángel Santos edition, which at launch sold for $5,000 a bottle , can now reach up to $20,000.

5. Clase Azul Jalisco 200 Limited Edition

Price/Bottle: $25,000

The Clase Azul Jalisco is an extra anejo tequila, named after Jalisco, a state in Mexico.

As the name might also suggest, only 200 bottles of this limited-edition tequila were distilled.

The tequila comes packaged inside a custom-built wooden box, which opens to reveal a drinking glass on either side.

With just 200 bottles released, getting your hands on one of these bottles isn’t cheap.

4. Clase Azul 15th Anniversary Edition

Price/bottle: $30,000.

The Clase Azul celebrated its 15th anniversary by releasing 15 limited edition bottles priced at $30,000 each.

Each of the unique bottles was handcrafted to convey the story of Mexico and all proceeds from the sale of these bottles were donated to the Fundacion con Causa Azul A.C, which supports the work of craftsmen and artisans in Mexico.

Although this tequila is no longer available for sale, we imagine that Clase Azul will release another special edition for a future anniversary, so if you want to grab a bottle, be sure to keep your eyes peeled.

3. Jose Cuervo 250 Aniversario The Rolling Stones Special Edition

Price/Bottle: $75,000

Jose Cuervo was the very first legal tequila company to be established, with the company’s history dating back to 1795 .

To celebrate the 250th anniversary of Case Cuervo, Jose Cuervo released the 250 Anniversario tequila.

They also released a limited edition of the tequila, in collaboration with the Rolling Stones rock band.

The Jose Cuervo brand played a leading role in the Rolling Stones’ 1972 North American tour, ‘Tequila Sunrise’.

For the Rolling Stones special edition, the tequila bottle is embossed with the famous ‘Hot Lips’ logo in 14-carat gold, and spikes along the sides.

It also comes packaged in a leather guitar-shaped case, including seven shot glasses.

The tequila was initially released with a price tag of just $4,000, but prices have skyrocketed to almost $75,000 since then.

2. Tequila Ley .925 Ultra-Premium

Price/Bottle: $225,000

In 2006, the artists at Tequila Ley designed three unique bottles to contain the tequila designed by Mexican artist Alejandro Gomez.

Each bottle was only created 33 times, for a total of 99 bottles, each more expensive than the last.

While this tequila in a glass bottle retails for $3,500, the gold and silver bottle goes for $25,000, and the gold and platinum for $150,000.

The most expensive of all was the white gold and platinum, which carried the insane price tag of $225,000!

Although the tequila itself is delectable, the real stars are the bottles that collectors and tequila enthusiasts scrambled to try and grab while they lasted.

1. Tequila Ley .925 Diamante

Price/Bottle: $3.5 Million

Recorded as the most expensive tequila ever sold by a mile, the .925 Diamante is a true work of art.

The Ley .925 Diamante tequila is made from 100% Blue Weber agave, which is grown in the highlands of Jalisco, Mexico.

The tequila is then aged for 7 years inside French Oak barrels before being poured into a platinum and white gold version of Tequila Ley’s signature-shaped bottle.

However, none of these things truly account for the Diamante’s insane price tag.

As the name might suggest, the bottle is encrusted with 4000 diamonds, amounting to a total of 18.5 carats.

Now that we’ve come to the end of the list, you might have noticed a common theme.

Clase Azul had the most entries on this list, holding seven positions in the top 20.

This is largely due to the fact they treat their bottles as artwork, often showcasing hand-painted art in limited edition releases.

That’s not to take away from their tequila, but to say that their unique approach is very popular among collectors and tequila enthusiasts alike.

Here’s a quick recap of the 20 most expensive tequilas in the world:

• Tequila Ley .925 Diamante
• Tequila Ley .925 Ultra-Premium
• Jose Cuervo 250 Aniversario The Rolling Stones Special Edition
• Clase Azul 15th Anniversary Edition
• Clase Azul Jalisco 200 Limited Edition
• Clase Azul Tequila Master Artisans
• Patron Limited Edition En Lalique Serie 2 Extra Anejo
• Clase Azul Dia de Los Muertos Limited Edition
• Clase Azul Puebla Limited Edition Tequila
• Dos Armadillos Sterling Silver Extra Anejo
• Patron Limited Edition En Lalique Serie 1 Extra Anejo
• Patron Limited Edition En Lalique Serie 3
• Clase Azul Pink Limited Edition Reposado
• Codigo 1530 Fourteen Years Extra Anejo
• Tesla Tequila Anejo
• Asombroso The Collaboration 12 Year Extra Anejo
• AsomBroso Reserva del Porto Extra Anejo
• Clase Azul Extra Añejo Ultra
• Barrique de Ponciano Porfidio
• 1800 Coleccion Tequila

Are there any tequilas we missed out from the list? Leave a comment below.

The 25 most expensive cigars in the world.

What are the most expensive cigars in the world?

Cigars have risen in price rapidly over the past two decades.

They’re associated with luxury and wealth more than ever before, and cigar aficionados are constantly looking for rare and exclusive cigars to add to their collections.

This begs the question: how expensive can cigars be, and how difficult could it be to get your hands on the rarest of the rare?

Today we’re bringing you our updated list of the most expensive cigars in the world.

How did we select this list of cigars?

One of the issues with many expensive cigar lists on the internet, including the original version of our own, is how the cigar values are calculated.

For instance, there was once an auction for a very rare box of cigars that sold for more than half a million dollars, but the box consisted of almost 800 cigars. More details on that are below.

We’ve decided to thoroughly calculate the price/stick for each of the entries on this list, so you can have a clearer understanding of exactly which cigars are the most expensive in the world.

Whilst it may be difficult to obtain some of these cigars individually, assuming you’d want to obtain them of course, we think this is the best way of ranking the list.

Another thing we decided to take into account is limited edition releases which are packaged in custom humidors instead of regular boxes.

These humidors can often cost thousands of dollars alone, and end up distorting the price of the cigar.

Can people still buy these cigars?

Most of the cigars featured on this list can still be bought and smoked to this day. 

Many of them are limited edition lines and are likely harder to find than most cigars.

What exactly makes some cigars more expensive than others?

Typically, there are a few things that can factor into cigar price:

• Limited edition productions
• Aged tobacco
• Brand recognition

Limited edition productions can often limit the total number of cigars produced, and as time passes the number of those remaining drops.

A lot of rare cigar releases also use aged tobacco leaves, and you’ll see several brands on this list that age their tobacco for at least 10 years before the cigar is rolled.

Brand recognition also plays a part as particular brands such as Cohiba are always sought after.

Finally, if none of the above results in a cigar being expensive, there are a select few who will cover cigars in gold leaf, and diamonds, and infuse them with expensive cognac.

But more on that later.

The 25 Most Expensive Cigars

We’ve done countless hours of research to ensure that our updated version of this list is the best resource available.

Without further ado, let’s get into this list of the 25 most expensive cigars in the world:

25. El Septimo The Zaya Collection (Mirifico Sapphire)

Price/Stick: $100

The Zaya Collection, produced by El Septimo, contains 8 different varieties of cigars.

Each variety contains five different filler tobaccos, with the tobacco leaves aged up to 15 years.

Typically, each cigar features are larger ring gauge of around 60, due to the variety of filler leaves used.

Whilst the cigars within this collection have very different flavor profiles from one another, the prices/stick are relatively similar.

At the time of researching this article, we’ve included the variety selling for the most, which is Mirifico Sapphire, at $100/stick.

Other varieties within the collection include:

• Bomba Orange
• Short Dream Topaz
• Kolosso Amethyst
• Fabuloso Dark Ruby
• Excepcion Esmerelda
• Double Shot White
• Bullet Black

24. Arturo Fuente Opus X 20th Anniversary

Price/Stick: $115

Arturo Fuente has long been known for their high-quality cigars, and their Opus X range contains some of the most sought-after cigars in the brand’s history.

The Opus X line was created in 1995 and in 2016 Fuente released the ‘Opus X 20th Anniversary’ edition to commemorate 20 years of the Opus X.

The ’20th Anniversary’ line contained four cigars:

• Father & Son
• God’s Whisper
• Power of A Dream

The prices do vary between each variety, however, because the ‘God’s Whisper’ variety comes in a ‘Perfecto’ size it tends to be sold for higher prices than the rest of the line.

23. Cohiba Spectre 2023

Price/Stick: $130

The Spectre line from Cohiba was initially introduced in 2018 and cost $90 per stick.

Separate versions of the Cohiba Spectre have since been released annually, with the most expensive being the Spectre 2023.

The 2023 Spectre is limited to 600 boxes of 10 cigars, featuring a 52 ring gauge and 6 1/2 inches in length.

What’s most interesting about the release is the packaging, which differs somewhat from most cigars, including that of Cohiba.

The cigars are stored in a box that opens vertically, featuring a hydraulic system that elevates the tubed cigars when you press the ‘O’ button inside the Cohiba logo.

22. Davidoff Royal Release Salamones

Price/Stick: $150

To be qualified enough to roll the Royal Release Salamones, Davidoff makes sure you have more than 15 years of experience rolling cigars.

This cigar is only rolled by 8 different people who together have rolled over 7 million cigars.

The Royal Release Salmones takes 10 years to grow from tobacco seed to finished product and is sold in boxes of 10 for $1,500.

21. Hoyo de Monterrey Epicure No. 2 Reserva Cosecha 2012

Price/Stick: $181

The Epicure No. 2 is one of Hoyo de Monterrey’s signature cigars.

In 2016, Habanos SA announced the release of the No. 2 Reserva Cosecha 2012.

This blend only uses tobacco leaves from 2012, aged for a minimum of three years.

With just 5000 boxes of 20 cigars produced, this cigar is bound to increase in value with time.

20. Hoyo de Monterrey Double Coronas Gran Reserva Cosecha 2013

Price/Stick: $200

Here we have another Hoyo de Monterrey ‘Reserva’ release, the Double Coronas Gran Reserva Cosecha 2013.

Typically, Gran Reserva lines are more sought after than regular Reserva series, due to the difference in tobacco aging.

Reserva cigar blends use tobacco leaves that are aged for a minimum of three years.

Whereas Gran Reserva blends use tobacco leaves aged for a minimum of 5 years.

Gran Reservas are also produced with only 15 sticks per box, instead of the usual 20.

19. Cohiba Siglo De Oro (Year of the Rabbit)

Price/Stick: $250

In 2023, Cohiba announced the release of the Siglo De Oro, to commemorate both the Chinese ‘Year of the Rabbit’, and also the 30th anniversary of the Siglo series.

Naturally, people across China, Hong Kong, and various other countries in Asia were the first to see these cigars unveiled.

Only 18,888 boxes of the Siglo De Oro will be produced.

That number might sound oddly specific, and it is indeed no coincidence, as the number 8 is lucky in Chinese culture.

The Siglo De Oro is a 54 ring gauge, 4 1/2 inch long cigar, sold in boxes of 18.

  18. H. Upmann Sir Winston Gran Reserva Cosecha 2011

Price/Stick: $260

H. Upmann is one of the oldest cigar brands in the world, with history going all the way back to 1843.

The Sir Winston Gran Reserva Cosecha is of course named after the legendary Sir Winston Churchill , who was known not only for being one of the most important prime ministers in British history; but also for his love of cigars.

The Gran Reserve line was launched by H. Upmann in 2009, and in 2011 the Sir Winston edition was released.

Just 5000 boxes of 15 cigars were produced, for a total of 75,000 cigars.

17. Partagas Serie E No.1 Colección Habanos 2013

Price/stick: $280.

The Serie E No. 1 Colección Habanos 2013 from Partagas appears 18th on our list of the most expensive cigars.

With this particular cigar now being over 10 years old, its price has risen heavily.

You can still find this cigar for sale in the USA for roughly $280 per stick, however, prices do vary.

16. Hoyo De Monterrey Maravillas Collection 2015

Price/stick: $290.

The most expensive Hoyo de Monterrey cigar is the Maravillas Collection 2015.

There were just 2000 boxes of 20 cigars produced, amounting to a total of 40,000 cigars.

Given the smaller production number in comparison to the other Hoyo de Monterrey’s featured on this list, you can expect to pay $290/stick for this cigar.

15. Cohiba Behike Series

Price/Stick $300

Cohiba Behikes are one of the most popular and sought-after cigars in the world.

Behike cigars are known for their full-strength flavor and quality, provided you can get your hands on the authentic product.

They’re sold in three different ring gauges: 52, 54, and 56.

These sizes are represented in their names respectively: Behike 52, Behike 54, and Behike 56.

The Cohiba Behike cigars are sold in 10-count boxes and increase in price depending on their size.

14. Oliva Serie V Roaring Twenties Super Limited Edition

Oliva Cigar Co. are well known for producing cigars that provide a great smoking experience for a great value.

However, in 2023 they decided to do something a little different.

The most popular line of Oliva cigars is the ‘Series V’, and last year they announced a new Series V Roaring Twenties Super Limited Edition.

When we take a look at the average price of an Oliva cigar, we can see a price of around $10, so what’s different?

The packaging is the most notable difference, with the Roaring Twenties SLE cigars being placed in boxes produced by Daniel Marshall.

Half of the cigars (the top layer) are also covered in gold foil.

In addition, there will only ever be 300 boxes created, for a total of 3000 cigars.

13. Trinidad Casilda Coleccion Habanos 2019

Price/stick: $370.

As you may have already noticed, Habanos limited edition collections can become incredibly expensive.

The Trinidad Casilda 2019 is another edition within the Coleccion Habanos with only 3000 boxes being produced.

This cigar once again features the traditional book-shaped box packaging as with any ‘Coleccion Habanos’ release.

Getting your hands on a single stick could cost up to $370.

12. Daniel Marshall 24KT Golden Gigante

Price/Stick: $395

Continuing both the obsession with gold and also the story of Daniel Marshall brings us to the next cigar on our list.

For those who are unaware of Daniel Marshall ; he’s a well-known figure within the cigar industry for his work with manufacturing custom humidors.

In 2011, Marshall decided to create a 24KT gold cigar for his friend’s 64th birthday. 

Marshall then produced a limited run of the cigar which would be packaged in a custom-signed travel humidor.

The 24kt cigar comes in two sizes, Torpedo and Gigante, with the Gigante size being the more expensive of the two.

Its base is that of the DM2 cigar, also sold by Daniel Marshall, which is rolled and sold to him by the Plasencia factory.

Daniel then covers the cigar with a thin layer of gold leaf from Italy.

  11. Montecristo Gran Piramides Limited Edition 2017

Price/Stick: $400 

Montecristo is one of the most popular cigar brands in the world, and one of their most expensive cigars is the Gran Piramides Limited Edition from 2017.

The Gran Piramides are part of the ‘Coleccion Habanos’, which come packaged in a box that’s shaped to look like a book.

At its core, the Gran Piramides are a Montecristo No. 2 that has been increased in size for this limited collection.

This cigar has a length of 6.25 inches and a ring gauge of 57, while Montecristo No. 2’s are a 52 ring gauge, and slightly shorter in length.

Only 2000 boxes of the Gran Piramides 2017 were produced by Habanos SA.

10. Partagas Lusitanias Gran Reserva Cosecha 2007

Price/Stick: $430

Continuing with another Habanos SA-produced cigar, the 2007 Gran Reserva Lusitanias from Partagas is our 11th most expensive cigar.

Just 5000 boxes of 15 cigars were produced, resulting in a total count of 75,000 cigars.

The Gran Reserve Cosecha 2007 can still be found for sale, but given its age, you might have to shell out more than you wish to.

9. Cohiba Talisman Edicion Limitada 2017

Price/Stick: $450

When it was originally released, the Cohiba Talisman EL 2017 cost just $547 for a box of 10.

Since their release, the price has risen rapidly year over year.

The cigars were produced at the world-famous El Laguito factory in Havana, Cuba.

At the time of writing this article, you’d be lucky to find a single stick for under $450.

8. Cohiba 55 Aniversario Edicion Limitada 2021

Price/Stick: $500

While not the most expensive release from Cohiba in the year 2021, the next entry on this list was certainly an important one.

The 55 Anniversario Edicion Limitada 2021 marked the 55th anniversary of Cohiba.

As the name suggests, the cigar was indeed a limited edition, and difficult to get a hold of.

The cigar was released in 10-count boxes, costing roughly $5000/box.

7. Davidoff Oro Blanco

Price/Stick: $600

Davidoff claims that the Oro Blanco is the most exceptional cigar they’ve ever created.

The Oro Blanco is a 6-inch, 54 ring gauge, toro-shaped cigar, with an all-Dominican wrapper, binder, and filler

So why does it cost $600 per cigar?

One of the main reasons for its high cost is due to Davidoff’s aging process.

The Oro Blanco, which translates to “White Gold”, is made with tobacco leaves grown in areas with some of the richest soil across the entire Dominican Republic.

The leaves are then aged for 12 years before the cigar is rolled; a task completed only by Davidoff’s most experienced rollers (15+ years of experience).

After one additional year of aging, the single cigar is then reviewed, approved, and placed into a custom box.

6. Mayan Sicars

Price/stick: $633.

At the beginning of this article, we mentioned a specific auction involving a box of 800 cigars.

In 2012, a large crate of Mayan cigars, expected to be more than 600 years old, was discovered in Guatemala.

It’s important to mention that the most reliable source of this information mentions the sale of all 800 cigars for a total of $507,000, which would put the price/stick at $633.

The cigars were buried deep below the surface in sealed clay pots, and discovered by an archeologist team from Tampa University.

Who paid the $507,000? A man named Gary Liotta, owner of the Santiago Cigar Factory in New York.

5. Gurkha His Majesty’s Reserve

Price/Stick: $750

On the sixth spot, we have Gurkha His Majesty’s Reserve cigar.

It’s made each year, and if you’re a cigar enthusiast, you will need to preorder them a few years beforehand. 

The total size of each cigar is 7-5 x 52 inches. The Connecticut Maduro wrapper comes with a Dominican binder and filler that is aged for 12 years.

The filler is infused with Louis XIII cognac, which gives it an amazing aroma.

This cigar is very rare and special, and the cognac has been known for selling only to dignitaries worldwide. 

A total of 75 boxes are being made every year. The incredible aroma, as well as the taste of the cigar, will be something that you will be so impressed with that you will never forget. 

4. Cohiba Ideales Coleccion 2021

Price/Stick: $1100

As the name suggests, this Cohiba cigar was released in 2021, measuring almost 7 inches in length, with a 56 ring gauge.

The Ideales Coleccion 2021 is limited to just 3000 boxes of 20 cigars, totaling 60,000 sticks.

The box is manufactured to look like a book.

Cohiba’s Ideales Coleccion 2021 is the last cigar to feature on this list that isn’t either covered in gold leaf and crystals or nearly 20 years old.

Which makes it the most expensive plain cigar that can still be purchased today.

3. Gurkha Black Dragon (2006 Edition)

Price/stick: $1,150.

The Gurkha Black Dragon is a cigar that you can still buy and smoke newer versions of to this day, but the original 2006 edition is a rare find.

The OG boxes were handmade using camel bone and were limited to just 5 boxes of 100 cigars.

Those who have smoked the original Black Dragon from 2006, and the newer editions seem to conclude that the taste is more or less the same.

Although the 2006 first edition of the Gurkha Black Dragon cost around $1,150, given how limited it was at the time; the current version of this cigar can be added to your collection for just $40/stick.

2. King of Denmark Cigar

Price/stick: $4,500.

The King of Denmark cigar is produced by Royal Danish and only 30 sticks are rolled per day.

Buyers can customize the cigar with both 24KT gold leaf and Swarovski crystals. 

They’re also able to have their name inscribed on the cigar.

Whilst this cigar doesn’t have to cost you thousands, it can reach up to $4,500/stick depending on the customization.

1. Gurkha Royal Courtesan

Price/Stick: $1.36 Million

The most expensive cigar in the world is the Gurkha Royal Courtesan cigar.

The Royal Courtesan is worth a ridiculous $1.36 million per stick.

One of the most interesting things here is that Gurkha are not known for their quality. 

In fact, Gurkha’s quality control is often a common problem reported by fellow cigar aficionados.

This begs the question: why does this cigar cost so much more money than anything else on the list before it?

Let’s get into the details of the Royal Courtesan:

• The cigar’s filler is infused with Remy Martin’s Louis XIII cognac.
• It’s hand-rolled by a select few skilled rollers, who are blindfolded.
• The band of the cigar is covered in 5-carat diamonds.
• Rare Himalayan tobacco leaves are used for the wrapper.
• The wrapper is also covered in a layer of 24KT gold leaf.
• Personal delivery to the owner by a messenger

Notable Mentions

That concludes our main list of the 25 most expensive cigars in the world.

There are, however, a few entries we’d like to mention.

Although these weren’t included in the main list, they’re worth mentioning to any fellow cigar aficionado.

Regius Double Corona Cigar

Price: $52,000.

We decided to leave out the Regius Double Corona from our main list as the cigar itself is not the main reason for the high price.

In 2013, Regius Cigars developed their Double Corona cigar, which is produced in Nicaragua.

However, the main attraction was not actually the cigar itself, but what was included with the purchase.

The buyer of the cigar would be flown first class out to Regius headquarters in Nicaragua, where they would be given a private tour of the factory.

They would also be allowed to create their own cigar blend, and be given 1000 sticks of said blend to take home with them.

Gran Habano #5 El Gigante

Price: $185,000.

Technically this cigar does have a clear price/stick, selling for $185,000 in 2013.

However, it’s probably worth mentioning that the cigar is 19 feet long, 3 feet thick, and weighs over 600 pounds.

Here are some interesting facts about the Gran Habano #5 El Gigante:

• Despite its size, it can be smoked by multiple people at the same time.
• Made with 1,600 pounds of tobacco.
• Equivalent to smoking 25,000 cigars
• Contains 15,000 wrapper leaves
• Has a ring gauge of 1920
• Weighs 2,500 pounds with the wooden case

We decided to separate the El Gigante from our main list of expensive cigars, but the story itself is worth mentioning.

If you enjoyed this list, don’t forget to check out our other most expensive lists:

• The Most Expensive Vodkas
• The Most Expensive Alcoholic Drinks
• The Most Expensive Cigarettes
• The Most Expensive Bourbons
• The Most Expensive Tequila

Here’s a quick recap of the 25 most expensive cigars in the world, per stick:

• Gurkha Royal Courtesan
• King of Denmark
• Gurkha Black Dragon (2006 Edition)
• Cohiba Ideales Coleccion 2021
• Gurkha His Majesty’s Reserve
• Mayan Sicars
• Davidoff Oro Blanco
• Cohiba 55 Aniversario Edicion Limitada 2021
• Cohiba Talisman Edicion Limitada 2017
• Partagas Lusitanias Gran Reserva Cosecha 2007
• Montecristo Gran Piramides Limited Edition 2017
• Daniel Marshall 24KT Golden Gigante
• Trinidad Casilda Coleccion Habanos 2019
• Oliva Serie V Roaring Twenties Super Limited Edition
• Cohiba Behike Series
• Hoyo De Monterrey Maravillas Collection 2015
• Partagas Serie E No.1 Colección Habanos 2013
• H. Upmann Sir Winston Gran Reserva Cosecha 2011
• Cohiba Siglo De Oro (Year of the Rabbit)
• Hoyo de Monterrey Double Coronas Gran Reserva Cosecha 2013
• Hoyo de Monterrey Epicure No. 2 Reserva Cosecha 2012
• Davidoff Royal Release Salamones
• Cohiba Spectre 2023
• Arturo Fuente Opus X 20th Anniversary
• El Septimo The Zaya Collection (Mirifico Sapphire)

Are there any cigars we’ve missed from this list? Leave a comment below.

The 10 most expensive countries to live in worldwide.

Which are the most expensive countries to live in worldwide? Hold tight, as you’re about to find out.

If you’ve dreamed about moving abroad and starting life afresh in a new country, then read through this list before you do, as you might be shocked to find out just how expensive some of these lesser-known countries are. 

We’ve put together this list based on accommodation and living expenses for a single person living in the capital city of each country, and according to population. 

Here’s a list of the 10 most expensive countries to live in worldwide…

The list of countries and figures mentioned below have been compiled from various sources around the web, such as World Population Review & Nomad List .

These are the 10 most expensive countries to live in worldwide:

10. Barbados – $2,061

Kicking off our list of the 10 most expensive countries to live in worldwide, is Barbados. 

Barbados is a sovereign island nation in the Lesser Antilles of the West Indies, which is the Caribbean region of North America. 

It covers approximately 349km² and is 23 kilometres wide and 34 kilometres long, with a total population of 285,719 people. 

Barbados is the fourth-most densely populated country in the Americas and, it’s capital city, Bridgetown, has approximately 110,000 people living in it. 

To rent a one-bedroom studio apartment in Bridgetown, you’re looking at spending around $500 a month, or $100 a night in an Airbnb. 

A basic meal out will cost you no less than $13. A beer is around $6.50 and coffee is approximately $5.00 depending on where you go. 

9. Japan – $2,612

The ninth most expensive country to live in worldwide is Japan. 

Japan is an archipelago island nation in South-East Asia, made up of 6,852 islands, with a current total population of 126.8 million people. 

Of the 6,582 islands, the four largest islands account for the majority of inhabitants, as roughly 97% Japans population live on the four islands. 

Japan has many major cities, like Osaka, Yokohoma, Nagoya and Sapporo, which are all populated by more than 2 million people. 

However, Tokyo, Japans Capital City and the largest city in Japan, has an approximate population of 37 million people. 

To rent a one-bedroom studio apartment in Tokyo, you’re looking at spending in the region of $1,370 a month, or $111 a night in an Airbnb. 

Eating out varies in price, but as an average for one person, you should be looking at spending around $15.00 for a basic meal and around $6.00 for a beer.

Coffee is also pretty reasonable, considering how expensive Tokyo is, at $2.81 a cup. 

8. Norway – $2,659

Located in Northern Europe, Norway is a Scandinavian country with a total population of 5.3 million people. 

Norway shares its borders with Sweden, Russia and Finland, and has a total landmass of 385,203 km².

It’s only the 171st most densely populated country on earth, with roughly 14 people for every square kilometre. 

Rent is expensive in Norway’s capital, so renting a one-bedroom studio apartment in Oslo, will set you back around $1,193 a month, or $85 a night in an Airbnb. 

You won’t have much change left from $15 when buying a meal out, and a beer will set you back around $9.11.

7. The Bahamas – $2,704

The next most expensive country in the world to live in is The Bahamas. 

Made up of over 700 islands, the Bahamas has an approximate population of 389,482 million people living across its 13,943km² landmass. 

The largest city in the Bahamas is Nassau, with a total population of 255,000. 

If you’re thinking about visiting the Bahamas, then you should budget approximately $950 a month for a one-bedroom studio apartment in the city, or $149 a night for an Airbnb. 

You’ll need to take at least $50-$100 with you when you go out for a meal and some drinks, as a basic meal costs around $15-$20 and a beer will cost you around $2.50. 

Coffee is a little on the expensive side, at around $5 each. 

6. Luxembourg – $2,751

One of the smallest countries on our list, Luxembourg, is also one of the smallest sovereign nations on the planet, and it won’t leave you with a lot of wiggle room when it comes to your monthly expenses. 

Luxembourg is a landlocked country, located in western Europe, and has an estimated population of 620,319 people. 

Its population is small compared to other countries on the list, however, it has roughly 207 people per square kilometre, making it the 67th most densely populated country on earth. 

When you arrive in Luxembourg City, you can expect to pay around $1,322 per month for a one-bedroom studio apartment, or $80 a night in an Airbnb. 

Luxembourg seems like it’s slightly more expensive than the Bahamas when it comes to luxuries like beer and coffee, as one beer will cost you around $9 and coffee will set you back $6. 

Eating a basic meal out will cost between $17-$25 for one person depending on what you order. 

5. Iceland – $2,802

Coming in at number five on our list of the most expensive countries in the world is Iceland. 

Iceland is located between the North and Atlantic Oceans and has a total surface area of 103,001 square kilometres. 

However, Iceland’s population of 339,949 people, remains relatively low in comparison to others on our list as its harsh geographical landscape proves difficult to live in for many, at times. 

As a result, Iceland has the lowest population density of any European country, at just 3 people per kilometre. 

Staying in Iceland will cost you approximately $1,236 a month for a one-bedroom studio apartment in the capital city of Reykjavik, or $128 a night in an Airbnb.  

Whilst you’re there, eating out will cost you around $12 for a basic meal, $8 for a beer and $2.15 for a cup of coffee. 

4. Denmark – $3,312

The southernmost Nordic country in Northern Europe, Denmark, is the fourth most expensive country to live in worldwide. 

Denmark, bordered by Germany, Sweden and Norway has a total current population of 5.7 million people. 

The Scandinavian countries capital city is Copenhagen, which has an urban population of 1.2 million people, and a metropolitan population of 1.99 million.  

Known as one of the happiest places to live on earth, Copenhagen is also a very expensive city to live in.

For a one-bedroom studio apartment, you’re looking at $1,917 a month, or $96 a night in an Airbnb. 

Eating out will cost you approximately $18 per person and beers and coffee are anyway between $5.50-$6.50 a pop!

3. Switzerland – $3,162

Switzerland is the third most expensive country to live in worldwide. 

With more than 8.6 million people living across, 41,285 square kilometres, Switzerland is the 95th most populated country in the world, and the 135th largest country in terms of the total landmass. 

Switzerland has a number of beautiful cities to live in, like it’s capital, Bern, and it’s the largest city, Zurich. 

Bern has approximately 133,000 people living there and accommodation for a month in Bern, for one person, will cost in the region of $1,366, or $86 a night in an Airbnb. 

A meal out will cost you approximately $15-$20, with an additional beer costing around $6.00 and coffee costing around $5.00 a cup. 

2. Cayman Islands – $3,387

The Cayman Islands is the second most populated British overseas territory in the world, just behind Bermuda.

It is located in the western end of the Caribbean sea and has a total current population of approximately 63,000 people. 

It’s made up of a number of islands like Grand Cayman, Little Cayman and Cayman Brac. 

The Cayman Islands are well known for housing offshore companies, and it’s believed that there are over 100,000 companies registered in the Cayman Islands. 

If you’re considering doing business in George Town, the capital city of the Cayman Islands, then a one-bedroom studio apartment will cost you around $1,924 a month or $83 a night in an Airbnb. 

Food and drink on the island are where you might spend a lot of your money.

A basic meal out will cost you at least $20-$30, with beer costing around $8.00 and coffee costing around $7 a cup. 

1. Bermuda – $5,011  

At over $5,000 a month for accommodation and living expenses, Bermuda is the most expensive place to live in worldwide.

Similar to the Cayman Islands, Bermuda is another British territory located in the North Atlantic. 

Bermuda has a total population of approximately 65,000 people living across a total landmass of 20.5 square miles. 

Its capital city, Hamilton, is also Bermudas only incorporated city and has a current population of just over 1,000 people. 

When looking for accommodation in the city, you’re going to need some deep pockets, as a one-bedroom studio apartment will cost you around $2,675 a month, or $212 a night in an Airbnb. 

If you’re a drinker, then get prepared to spend some cash, as one glass of beer will cost you a minimum of $10, and dinner will be around $20-$30 per person. 

Bermuda is the most expensive country to live in worldwide. 

We hope you enjoyed our list of the 10 most expensive countries to live in worldwide.

Well, there you have it, those were some super expensive countries to live in.

Living in those countries might make you think twice about drinking alcohol , on a regular occasion, and make you sharpen the purse strings a bit more.

However, it’s all relative and depends on your disposable income and expenses.

So, if you’re still planning on moving to, or even visiting one of these countries long term, then at least you know what to expect. 

Here’s a quick recap of the 10 most expensive countries to live in worldwide:

• Bermuda – $5,011
• Cayman Islands – $3,387
• Switzerland – $3,162
• Denmark – $3,312
• Iceland – $2,802
• Luxembourg – $2,751
• The Bahamas – $2,704
• Japan – $2,612
• Norway – $2,291
• Barbados – $2,061

What’s your favourite most expensive country? Leave a comment below.

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Following in the footsteps of Jeff Bezos, Mark Zuckerberg is said to have bought a $300 million superyacht and a $30 million support vessel in one go. Apt for the adventurous Facebook founder, the shadow vessel has a helipad, dive center & even a decompression chamber.

Meet the world’s $300 million superyacht Launchpad:

After much speculation, the 387-foot Feadship motor yacht Launchpad emerged as Zuckerberg’s launchpad into the world of shipowners. She can accommodate 24 guests who are serviced by a crew of 48. The exterior was designed by ace designer Espen Øino, while the interiors were brought to life by the French studio Zuretti. Launchpad’s most discerning feature is its stark blue hull and a red line across the waterline.

Ranking at number 45 among the largest yachts worldwide in terms of length, it is safe to presume the vessel would boast world-class amenities. There is an ample main deck, a swimming pool, and top-notch facilities worthy of Zuckerberg and his family. Images reveal a large helipad with a hangar on the upper deck. The yacht flaunts a glass observation lounge and a spacious beach club. On closer inspection of the photos, one notices the decks are flanked by circular seating pods, an alfresco dining area, and a bar. Maintaining the $300 million Launchpad Yacht would set Zuckerberg back by at least $30 million annually.

Support Vessel Wingman is truly superlative:

If a support vessel could receive a report card, the aptly named Wingman would earn an A+. The 220-foot vessel, with a volume of 1,143 GT, boasts interiors by Mark Berryman and provides accommodation for up to 6 guests in 3 cabins.

Will this duo beat Jeff Bezos’s Koru and Abeona superyachts?

Mark Zuckerberg and other centibillionaire Jeff Bezos have more in common than just their wealth; they both own a pair of stunning superyachts and their impressive support vessels. While Zuckerberg’s latest purchases are expensive, they still cannot match Koru, a $500 million schooner, with its $75 million support vessel, Abeona, trailing behind. Not only are these boats much larger (Koru is 416 feet, while Abeona is 246 feet), but they also cost nearly double that of Zuckerberg’s vessels.

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KAOS Yacht – Extravagant $300M Superyacht

KAOS yacht (formerly JUBILEE and AL MENWAR) is an award-winning superyacht that was recently refitted with a completely redesigned interior.

At 110 metres (361ft) and 4,523 tons, she was the largest yacht ever built in the Netherlands at the time of her launch in 2017.

The vessel was recently spotted off the coast of southern Spain before dropping anchor in the beach town of Marbella.

Kaos yacht interior

The interior of the motor yacht was originally designed by Sam Sorgiovanni who is originally from Australia and aims to unite practicality with beauty through his unique designs.

The vessel was made completely wheelchair accessible including elevators and barrier-free access to all decks. 

The process took a year and with the help of the British designer Reymond Langton, the interior was transformed.

KAOS has room for 31 guests in 16 cabins. This includes a lavish owner’s suite which consists of two separate bedrooms.

There are also four VIP suites and ten standard suites with ensuite bathrooms. All guest cabins are located on the upper deck. 

45 staff distributed across 24 cabins find space on the lower levels of the vessel. Only the cabins for the captain and first officer are located on the bridge deck.

The KAOS yacht was designed with maximum comfort in mind. Her interior includes lavish facilities such as a spacious elevator, a steam room, a full gym, as well as an indoor beach club.

Originally she was constructed with Middle Eastern design in mind which includes features such as a large majelis, which is a dedicated seating and entertainment area meant for hosting guests.

The KAOS yacht also has a large cinema, a sauna, and full spa facilities. Below the deck, there is a separate crew gym and a small hospital in case of medical emergencies.

The interior design can be described as lavish and luxurious. White and blue carpeted floors with intricate designs compliment the exterior of the vessel and its signature aqua color.

Golden accents and cream upholstery go well with the wooden elements such as the teak flooring.

Opulent furnishing with many indirect lighting accents creates a feeling of coziness and luxury. 

Specifications

At the time of her launch in 2017, the KAOS yacht was the largest yacht ever built by the custom yacht builder Oceano as well as the largest yacht built in the Netherlands.

At a length of 110 meters (361ft), a beam of 16.4 meters (53 ft), and a maximum draft of 4.4 meters (14.5 ft), she is currently ranked as the 39th largest motor yacht in the world, together with motor yachts ANNA, RADIANT and AL RAYA who measure the same length.

She displaces 4,523 tons and is known for her unusual design, which is very sleek and minimalist.

KAOS can reach speeds of up to 19 knots with an average speed of 15 knots which is not the fastest in her weight category but still impressive for her large size.

As expected from Oceano, she was constructed primarily from aluminum and steel and has a fuel capacity of 391,000 liters as well as a 230,000-litre freshwater tank. She is powered by impressive MTU engines fuelling two propellers.

The KAOS yacht can host 31 guests in 16 cabins as well as 45 crew in 24 cabins. Her maximum range is estimated to be somewhere around 5,000 nautical miles.

The KAOS yacht is an exceptionally beautiful yacht that was built prioritizing modern and minimalist design.

Lobanov Design is responsible for her eye-catching exterior, which focuses on futuristic elements combined with optical illusions. 

Established in 2007, this design studio is known to be young, offering unique perspectives and modern approaches.

She was built with curved lines in mind incorporating elements of glass and metal in a nautical context.

Her all-around glass fronts create an optical illusion letting the yacht appear to have several more decks than she actually has. 

The so-called trompe l’oeil effect lets KAOS appear sleek and elongated, setting her apart from traditional yacht design. Her designer Lobanov describes the modeling process for KAOS.

“The 3D modeling was quite a challenging task, which pleased my mathematical part of the brain. Each of the layers meets and splits under certain rules, which can be noticed from different angles.”

Her exterior is white with light blue accents, which are contrasted by the many darkly tinted windows.

She has four decks, the largest of which is the aft which has a sizable swimming pool with a built-in aquarium and seating areas.

Several smaller decks are located on higher levels, although most of them are hidden in shaded areas. 

Close to the top of the superstructure, a small jacuzzi is situated, allowing guests to enjoy incredible views while relaxing.

At the bow, a helipad is located, including refueling facilities for small to medium-sized helicopter aircraft. Below the helipad, the mooring deck is cleverly concealed for aesthetic purposes. 

At the stern of the vessel, the KAOS yacht has an extendable swimming platform that can be closed completely when the yacht is underway.

This platform leads directly to a lounge area inside the yacht, complete with a state-of-the-art entertainment system, TV, and storage space.

On the starboard side of the aft, there is a separate platform for docking tenders and releasing water toys.

KAOS also possesses a modern underwater lighting system and state-of-the-art stabilizers for the comfort of guests when the vessel is underway or at anchor.

Toys and equipment

The KAOS yacht carries at least two tenders, one of which almost looks like a miniature version of the main vessel with the same blue and white design and tinted windows.

They were built by Pascoe International , a renowned company specializing in tenders for superyachts. 

She carries a wide array of water toys, including several jet skis, water bobs, and paddleboards.

Previous names

Originally the KAOS yacht was built in the Netherlands by Oceano under the name SECRET III. Upon her launch, she was officially named JUBILEE and then renamed AL MENWAR by the royal family of Qatar, the House of Thani. 

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'You Consume Others Suffer': Walmart Heiress' $300 Million Superyacht Vandalized by Activists Environmental group Futuro Vegetal posted a video of the defaced yacht on social media.

By Sam Silverman Edited by Jessica Thomas Jul 17, 2023

Key Takeaways

• Nancy Walton Laurie's yacht was defaced at a port in Ibiza.
• Climate change activists said they targeted Walton because she's one of the richest women in the world.
• Walton Laurie is worth $7.7 billion.

Opinions expressed by Entrepreneur contributors are their own.

A luxurious boating trip to Ibiza turned sour for Walmart heiress Nancy Walton Laurie's Kaos superyacht.

On Sunday, environmental activists defaced the billionaire's $300 million superyacht with black and red spray paint while the boat was at a port on the ritzy Spanish island.

A video shared on Twitter by Futuro Vegetal, a Spanish environmental activist organization, shows two men spraying the boat, which is named Kaos, before holding up a sign that reads: "You Consume Others Suffer." Staffers on the vessel can be seen attempting to wash the paint off, then the boat leaves the harbor.

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Cómete a los mega-ricos Aquí está el vídeo esperado de la acción esta mañana al yate de la heredera de #walmart . pic.twitter.com/KufSltaMHn — FuturoVegetal (@FuturoVegetal) July 16, 2023

ACTUAMOS Rociamos pintura utilizando extintores contra el mega-yate de 300 millones de euros de Nancy Walton, heredera de #Walmart y una de las mujeres más ricas del mundo con una fortuna de 8.700 millones de dólares pic.twitter.com/DVWsVfJhxf — FuturoVegetal (@FuturoVegetal) July 16, 2023

Related: Jeff Bezos and Lauren Sanchez Coast Through Italian Riviera On $500 Million Superyacht Following Engagement

According to Insider , the activists have since been detained but are expected to be released on Monday. Reports did not specify if they had been charged and on what grounds.

The group explained its actions in a series of Tweets, originally written in Spanish, with one stating : "We can't go on like this, it's a matter of life and death." In another , it said it targeted Walton Laurie because she's "one of the richest women in the world."

Walton Laurie is the youngest daughter of Walmart co-founder James "Bud" Walton. She's worth $7.7 billion, according to Bloomberg's Billionaire Index .

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Climate activists blast paint on walmart heiress’ $300 million yacht in ibiza.

A group of climate change activists trashed a $300 million superyacht owned by billionaire Walmart heiress Nancy Walton Laurie on the Spanish island of Ibiza by blasting it with paint.

The Futuro Vegetal group, which translates to Future Vegetable, said on Twitter that two members used fire extinguishers filled with red and black paint to deface the “Kaos” superyacht Sunday morning.

Futuro Vegetal also uploaded pictures of two members standing in front of the luxury yacht with signs that read “You Consume Others Suffer.”

“The only reason we continue to maintain an economic system that leads us to eco-social collapse is to sustain the privileges of this small privileged class,” the group said in a statement about the vandalism. “The mega-rich live off the suffering of others.”

The Spanish Civil Guard said two people were arrested at the docks this morning over the incident, local Periodico de Ibiza reports.

Sources told the Spanish newspaper that the yacht was actually scheduled to leave Ibiza on Sunday, with the spraypainting taking place just as the crew was preparing to depart.

The Futuro Vegetal group said they specifically targeted Laurie’s yacht as she is one of the wealthiest women in the world, with Bloomberg’s Billionaire Index pinging her net worth at $7.77 billion.

Laurie’s yacht made headlines in May with a series of features about the impressive 361-foot ship, which sports its own swimming pool, aquarium and helipad.

The superyacht also holds its own cinema, spa facilities, gym and even a small hospital for medical emergencies at sea.

The vandalism came following a call from the Extinction Rebellion Ibiza group, an activist organization demanding the ban of private jets and luxury yachts over emission concerns .

The group called on a campaign to specifically target such jets and yachts in Ibiza, with a private jet spray painted in a similar fashion by activists last week at Ibiza’s airport.

Futuro Vegetal said they were proud to have joined the campaign in Ibiza in order to raise awareness for their cause. The group touts itself as a civil disobedience and direct action group fighting against climate change .

Representatives for Laurie did not immediately respond to The Post’s request for comment.

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Boat staff had to hose down a Walmart heiress' $300 million yacht after climate activists blasted red and black paint onto it with fire extinguishers

• A $300 million superyacht owned by a billionaire heiress was doused in paint by activists on Sunday.
• The two activists arrived as the yacht was leaving Ibiza and sprayed its stern in red and black.
• Staff could be seen trying to hose away the paint while the activists held up a protest sign.

Two climate activists vandalized an American heiress' $300 million superyacht in Ibiza on Sunday, bathing the vessel's stern with red and black paint.

The pair used fire extinguishers to spray paint on the Kaos, a megayacht owned by the billionaire Walmart heiress Nancy Walton Laurie, then held up a sign that read: "You consume, others suffer."

The yacht appeared to be leaving port when the activists doused its rear, and boat staff could be seen immediately attempting to wash away the paint with hoses, according to footage tweeted by Futuro Vegetal, a Spanish organization lobbying for climate action.

—FuturoVegetal🍒 (@FuturoVegetal) July 16, 2023

"We can't go on like this, it's a matter of life and death," Futuro Vegetal tweeted .

Futuro Vegetal tweeted on Sunday that the activists targeted the Kaos because Walton Laurie was "one of the richest women in the world."

The two activists were detained and are expected to be released on Monday at noon, the organization said, without specifying what they were charged with.

Port authorities activated an interior maritime plan to assess whether the paint spilled into the water could be cause for concern, the local outlet Periodico de Ibiza reported .

Futuro Vegetal and the Walton Family Foundation did not immediately respond to requests for comment sent outside regular business hours.

The Kaos is a 361-foot luxury yacht owned by Walton Laurie, the youngest daughter of Walmart cofounder James "Bud Walton." She is worth more than $7.7 billion, per the Bloomberg Billionaires Index .

Her vessel, which flies under the Jamaican flag, has four decks and can accommodate 31 guests and 45 crew, per the yacht-enthusiast website Yacht Bible .

Related stories

It hosts 16 guest cabins and at least 24 staff cabins as well as an elevator, a steam room, a gym, a cinema, and an indoor beach club.

It costs from $20 million to $30 million every year to keep the Kaos running, according to Yacht Bible.

On Friday, three activists from Futuro Vegetal also ran onto a runway of an airport in Ibiza to spray yellow paint on a private jet and disrupt airport operations .

July 18, 2023: A previous version of this article incorrectly stated one of the colors sprayed onto the Kaos. The vessel was sprayed with red and black paint, not red and white paint.

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Sunk superyacht likely to cost insurers at least $150 million, experts say

By Noor Zainab Hussain and Carolyn Cohn

LONDON (Reuters) - Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

Sunk Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

FILE PHOTO: Bayesian, a 56-meter-long sailboat, which later sank off the Sicilian capital Palermo, is seen in Santa Flavia, Italy August 18, 2024 in this picture obtained from social media. Baia Santa Nicolicchia/Fabio La Bianca/via REUTERS/File Photo

By Noor Zainab Hussain and Carolyn Cohn

LONDON (Reuters) - Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

Copyright 2024 Thomson Reuters .

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Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-meter-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Cos. Inc., Navium Marine, and Convex, Reuters reported last week.

Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

“Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.

“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

Photograph: Italian Firefighters scuba divers bring ashore in a blue bag the body of one of the victims of the UK flag vessel Bayesian, on Wednesday, Aug. 21, 2024. (AP Photo/Salvatore Cavalli)

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• Categories: International & Reinsurance News Topics: British Marine , Convex Group Ltd. , marine insurance , marine liability insurance , Navium Marine , NSI Insurance Group , OMAC , protection and indemnity (P&I) , superyacht insurance , The Travelers Cos. , yacht insurance
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Mike Lynch sunken superyacht could cost insurers massively, experts say

Insurers of the Bayesian superyacht that sank this month , killing tech entrepreneur Mike Lynch and six others , could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 184-foot-long yacht , which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

Prosecutors in the town of Termini Imerese, near Palermo,  are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe, which includes looking into crimes of manslaughter and shipwreck, would take time and require salvaging the wreck.

The captain, James Cutfield, flew out of Palermo on a private jet on Thursday, an investigative source told Reuters . Cutfield's destination was unclear.

Cutfield, a native of New Zealand, and his wife live in Palma, the capital of the Spanish island of Mallorca.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc (TRV.N), Navium Marine and Convex, Reuters  reported  last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull and machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

More: How safe are luxury yachts? What to know after Mike Lynch yacht disaster left 7 dead

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

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Superyacht tragedy: Insurance costs projected to reach $150 million

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily. read more

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

”Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be ”several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.

”Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

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Sunk superyacht likely to cost insurers at least $150-million, experts say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least US$150-million, according to the first estimates by industry experts.

The British-flagged, 56-metre-long yacht, which the experts estimated cost around US$40-million, capsized and went down on Aug. 19 within minutes of being hit by a predawn storm while anchored off northern Sicily.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around US$40-million, while the P&I cover would be larger, insurance sources said.

“Our understanding is that the cost of the boat was between US$40 and US$50-million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be “several multiples” of the hull policy, or US$200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, chief executive officer of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at US$40-70 million, but said P&I cover might not total more than US$100-million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at US$30-million to US$40-million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Mr. Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Mr. Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Mr. Seikaly added, as it throws up more unexpected events.

“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

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