The US government has reportedly completed the sale of 106-metre Amadea, which it claims was beneficially owned by sanctioned Russian billionaire Suleiman Kerimov. But while its sale and deregistration signal a seismic shift in the yacht’s legal status, it does not close the case entirely.

A spokesperson for the US Marshals Service confirmed to Business Insider that the yacht was auctioned on 10 September 2025 under the forfeiture order issued by the US District Court for the Southern District of New York.

Fraser Yachts acted as promotional agent for the sale, which was conducted through a sealed-bid process managed by National Maritime Services of Fort Lauderdale. Neither the buyer’s identity nor the final price has been disclosed. Bidders were required to have a minimum net worth of $500 million.

According to the official auction rules published by National Maritime Services, Amadea was sold “as is, where is” from her berth in San Diego through a sealed-bid process conducted in US dollars, with no warranties or guarantees as to condition or provenance. Bidders were required to rely entirely on their own inspections and due diligence and all participants agreed to hold both National Maritime Services and Fraser harmless from any post-sale claims. The Marshals Service also reserved the right to cancel the sale at any time for good cause.

Registered bidders were also required to pass KYC checks and lodge a $10 million deposit in escrow before bidding closed at 14:00 ET on 10 September 2025. The winning bidder had to pay a further $10 million within 10 days of acceptance and settle the remaining balance within 28 days. If the first bidder defaults, the second and third-place offers would have been called in sequence under the same terms.

The auction follows a long-running legal battle that began when Fijian authorities, acting at the request of the US, detained Amadea in May 2022. After months of hearings, the yacht was transferred to US custody and later formally seized under asset-forfeiture provisions linked to sanctions on Kerimov, who is accused of concealing ownership of assets through complex offshore structures.

In March 2025, Judge Dale Ho of the Southern District of New York issued an 80-page judgement of forfeiture, granting the government’s motion to seize Amadea. The ruling found that the vessel was “controlled and maintained for the benefit of Suleiman Kerimov” despite being registered to former Rosneft CEO Eduard Khudainatov.

Khudainatov’s counsel continues to challenge that decision, however. In a statement to SuperyachtNews earlier this year, Adam Ford, his attorney, called the sale “improper and premature”, insisting that his client “retains title and is actively appealing the forfeiture ruling”.

“If our appeal succeeds, the government must repay the vessel’s full value,” Ford said. “We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the US, exposing purchasers to years of costly, uncertain litigation.”

The US Marshals Service, which manages seized assets for the Department of Justice’s Asset Forfeiture Program, said all assets under its control are “valued at forfeiture and liquidated promptly upon receiving proper authorisation”, with the aim of achieving “timely disposal at fair market value”.

The deal’s legal finality is uncertain, however, with the owner’s appeal still pending. So while the transaction has been executed, the vessel’s ownership could be contested in foreign courts, leaving potential buyers exposed to ongoing claims.

Some industry commentators have criticised the auction as politically driven, going as far as to call it “theft”, arguing it raises questions about due-process rights and the cost to US taxpayers. Amadea reportedly cost around $1 million per month to maintain in government custody.

Khudainatov’s legal team previously warned that “recent judgements in European and Caribbean courts have penalised buyers who acquired assets through illegitimate seizures” and vowed to pursue any sale proceeds should the appeal succeed.

Meanwhile, others are calling the move a judicial triumph. Legal observers say the case could set a precedent for how Western governments handle the liquidation of sanctioned Russian assets, although questions remain about whether such sales would be enforceable outside the US jurisdiction.

The case does illustrate, however, that such a sale can move forward despite pending litigation, raising further questions as to what will happen to other yachts stuck in limbo across Europe like Phi, Luminosity and Amore Vero.

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