The Alfa Nero moments after it was siezed by Antigua and Barbuda (Photo by Wayne Mariette)

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The multi-million-dollar vessel which has been seized by the government will soon be auctioned to the highest bidder and the proceeds will be placed in the consolidated fund

“Someone may send a bid in but we have to validate who you are, and ensure that you pass the due diligence tests. Second of all, you have to provide the appropriate source of funds,” Telemaque said.

The $120 million superyacht was reportedly owned by Russian tycoon Andrew Guryev but he has refused to claim it.

In fact, Andrew Guryev’s lawyers had denied any connection with the boat.

The government’s haste to sell the 279-foot elegant Oceanco beauty was propelled by concerns about the country’s marine environment. The vessel also racked up an exorbitant fuel bill on Antigua and Barbuda’s tab.

So far, more than 20 possible people have offered to buy the vessel including those from countries like Saudi Arabia, Monaco, France, and New Zealand

Some prospective buyers have already placed bids for as much as $71M for the Alfa Nero.