Century-Old Yacht Madiz, World’s Oldest Superyacht, for Sale

The year 1902 saw the invention of air conditioning, neon light, and the teddy bear, among other things. It also saw the launch of the yacht Madiz in Scotland. The 182-foot (55.4-meter) megayacht is the oldest and largest classic yacht still floating. Further boasting many of the features from her original construction, she’s a rare addition to the brokerage market.

A joint listing of Camper & Nicholsons and G.L. Watson & Co., the latter of which was her designer, Madiz is historic for a few more reasons. In 2006, for instance, she became the oldest operating vessel under Lloyd’s classification. Not only that, but she holds ✠ 100A1, her original class notation. She reportedly is the only vessel to reclass after so long under her original notation, too. Additionally, she’s the oldest steel- or iron-hulled vessel under Lloyd’s classification. (She bears a steel hull.)

Thankfully, her ownership history is well-documented as well. The original owner was James Coats, Jr., a Scottish cotton magnate and philanthropist. Coats enjoyed yachting, plus sponsoring scientific expeditions. He commissioned the steam-powered yacht as Triton, to accompany a sailing yacht. Sadly, he died in 1912, after which his estate took possession. Several additional owners cruised aboard between 1913 and 1968, with the UK Royal Navy using her as a patrol boat during World War I and World War II. Famously, one owner offered her for charter, attracting none other than Frank Sinatra and the full Rat Pack as guests in 1960. The actress Janet Leigh and Joseph Kennedy Sr. and his wife (parents of then-newly elected U.S. President John F. Kennedy) were aboard for the same charter.

In 1968, an Iranian-Greek businessman, Costas Keletsekis, decided to buy the yacht, renaming her Madiz. Unfortunately, she had been languishing in Greece and required significant restoration. It took some time, but Keletsekis devoted the time and resources. The majority of the restoration took place from 2003 to 2007. During that time, he had MTU Mercedes diesels replace the original steam engines. Furthermore, all original wood paneling inside, a combination of mahogany and oak, underwent full refurbishment. So did nearly all the original deck equipment and even original furnishings. Keletsekis’ wife, who was taken by surprise when her husband bought Madiz, later said the yacht led to many wonderful memories.

The current owners of the yacht Madiz acquired her in 2010. (Keletsekis died in 2009.) They, too, have devoted much time and attention to preserving as many original features as possible. These include the Lord’s Suite and the Lady’s Suite, staterooms with seating area and some of the early-1900s mahogany paneling. Yet another original stateroom is suitable for kids. Buyers will appreciate the two master suites, both on the upper deck and with access to the alfresco areas. One of the two, the President Suite, was an addition within the past 20 years.

Currently operating with a crew of 10, the yacht Madiz carries two tenders. Naturally, they complement her classic looks. One is a classic launch itself, while the other is a Riva Super Florida. Lying in Greece, the yacht has an asking price of €9.7 million ($10.5 million), VAT paid.

Camper & Nicholsons camperandnicholsons.com

G.L. Watson & Co. glwatson.com