World’s ‘first’ superyacht originally bought for $34,000 but is now worth $96 million

This is the ‘Christina O’, an incredible yacht that was once a Royal Canadian Navy ship.

The owner bought the ship for just $34,000 and then spent around $4 million to customize her.

And she’s now worth $96 million.

READ MORE: A closer look at the 350-foot sailing yacht with annual maintenance costs like buying 10 Bugattis

It does sound like the deal of the century, and in a way it was, but there are a couple of things worth pointing out.

The story behind Christina O

She doesn’t look a day over 25, but this yacht is actually 80 years old.

The 99-meter (325 ft) boat started out her ‘career’ in 1943, as an anti-submarine frigate for the Royal Canadian Navy during World War II.

Her name was HMCS Stormont.

In 1945, when WWII ended, Greek billionaire Aristotle Onassis, husband of former First Lady Jacqueline Kennedy, purchased the yacht for just $34,000.

This is the first asterisk because $34,000 in 1945 is equivalent to $617,000 in 2024.

It’s still a good deal, but something worth bearing in mind.

The second asterisk comes with the restoration costs.

Onassis spent around $4 million to convert the vessel into a superyacht but that, in today’s money, is $73 million.

Still, buying a yacht for the equivalent of $73 million and then selling it for $96 million is not a bad deal.

This ship ‘started’ the superyacht trend

Christina O is considered the world’s first ‘postwar’ superyacht so, in a way, this is the mother of all superyachts as we know them today.

The superyacht has just hit the market with a price tag of $96 million and that, as wild as it may sound, is actually more or less average.

Jeff Bezos spent a whopping $500 million on his main yacht, Koru (above, left), and an additional $75 million on his support yacht, Abeona (above, right).

Christina O is looking for a new buyer but, in the meantime, the boat can be chartered at a cool €700,000 ($750,000) per week.