Man of Steel (ex-Seven Seas), the 282-foot superyacht built by Oceanco. Image: Boatinternational.com
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Steven Spielberg has sold his superyacht, Seven Seas, after listing it earlier this year for $158 million.

The new registered owner of the yacht is Zekelman Investments, according to data provider VesselsValue, an entity linked to Canadian steel billionaire Barry Zekelman. Edmiston, a broker involved in the deal, declined to comment or confirm the sales price. Zekelman and Spielberg didn’t respond to requests for comment.

Built for Spielberg in 2010 by Dutch firm Oceanco, the 86-meter (282 foot) yacht has teak decks, an elevator and accommodations for 20 guests plus 28 crew members. The billionaire Hollywood director is likely making room for his new yacht, a 109-meter boat also being constructed by Oceanco.

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Man of Steel yacht. Images: Boatinternational.com

The transactions reflect a booming market for extravagant vessels as soaring stock markets inject new wealth into the fortunes of the world’s richest and socially distanced leisure gains fresh appeal amid the pandemic. Yacht manufacturers are rushing to meet demand from both repeat and new customers, including world’s second-richest person, Amazon.com Inc.’s Jeff Bezos, who’s enlisted Oceanco to build a 127-meter superyacht at an estimated cost of more than $500 million.

The superyacht industry hasn’t slowed down even as pandemic lockdowns largely end. More than 550 new and used yachts over 30 meters have been sold so far this year, an almost 50% increase from a year earlier, according to Merijn de Waard, founder and director of SuperYacht Times.

The market “continues to soar,” he said, adding that yachts are selling closer to their asking price than they have in the past and multiple offers are becoming more common.

The Robb Report, a luxury lifestyle publication, reported earlier that the yacht had been sold, without identifying the buyer.

Seven Seas’ new owner, Barry Zekelman, is chief executive officer of Chicago-based steel pipe and tube maker Zekelman Industries Inc. A race car enthusiast and veteran yacht owner, he renamed Spielberg’s boat with a moniker he’s relied on before for his vessels: Man of Steel.

Originally published on Bloomberg.com

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