A superyacht linked to Russian billionaire businessman Dmitry Pumpyansky has changed hands in the first such public auction since Russia’s invasion of Ukraine.

The Maltese-flagged 1,620-gt motor yacht Axioma (built 2013) was put up for sale after JP Morgan Chase & Co called in a €20.5m ($19.2m) loan tied to the vessel.

Der Spiegel reported early on Wednesday that a top bidder emerged for the ship at a price of $37.5m.

Gibraltar authorities declined to reveal the name of the buyer, the German magazine said.