This former Yugoslavian presidential yacht, Galeb whose name means “seagull†in Croatian, which belongs to John Paul Papanicolaou, the same Greek yachtsman who owns the yacht Christina O. The 384 foot yacht belonged to Marshall Tito from 1948 till his death in 1980. The yacht became the property of the Montenegrin government following the nation’s breakup in 1991. He had intended to turn it into a luxury charter yacht but the work never commenced. The yacht is now to be auctioned on May 9. The estimated value of the yacht is $275,000 but it could cost over $40 million to repair the damaged hull. It is currently moored on the quayside of the Croatian port of Rijeka. The Croatian authorities have made a preservation order on the ship and hope to turn it into a museum if they secure ownership at the auction. Vojko Obersnel, the mayor of Rijeka, vowed to maintain it: “This ship is of huge historical and cultural importance, which is why we want to buy it.â€
From The Times.