A luxury yacht seized by authorities after £160m worth of cocaine was reportedly found on board is set to be sold at auction.
The 120-ft Kahu, currently berthed at Torquay Marina, will go to the highest bidder later this month.
BusinessLive’s sister site PlymouthLive reported in March that two tonnes of cocaine were found aboard the yacht, which was seized in the English Channel last September before being towed into the city.
The National Crime Agency has instructed Wilsons Auctions to manage the online sale of the vessel, which was built in 1979 for the Royal New Zealand Navy.
Kahu was converted into a pleasure craft in 2010 and has since travelled the globe including making multiple transpacific and transatlantic voyages.
The yacht features a large main salon, fully equipped galley and five staterooms for guests, as well as additional accommodation and space for four crew members.
On board the luxury yacht Kahu. (Image: Wilsons Auctions)Wilsons Auctions’ government contracts manager, Mark Woods said: “We are proud to facilitate auctions on behalf of our government and law enforcement agency clients.
“We play an important role in realising a large quantity of assets on behalf of these clients and in recent years, these auctions have seen us responsible in returning £130m back into the public purse.”
“The online element of the auction is extremely convenient for bidders around the world to register and get involved. This will be an exciting one to watch.”
Bidding will be open to the public. An open day for viewings of the yacht will be held on April 20, ahead of the 24-hour timed online auction which will start a week later.
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