The Italian Sea Group sells three 70m superyachts in record transaction

The Italian Sea Group (TISG) has sold three new 70m (230ft) GC-Force 70 Admiral superyachts to a European billionaire, a record transaction for the shipyard. The three sales were completed for a Greek family in partnership with brokerage firm IYC.

The Italian shipyard said that the sale of the vessels, which have yet to be built, validates its new core business focus on building yachts from 50m to over 100m. It also adds to the strong order book, which stood at €1.04bn ($1.12bn) on December 31st, 2022.

The deal also marked the first sale of the Admiral GC-Force 70 fleet. “This important transaction, finalised in Europe, confirms the development journey in the mega-yacht market and TISG’s positioning as a global reference player in this dimensional segment,” said Giovanni Costantino, founder and CEO, TISG.

Michel Chryssicopoulos, global managing partner, IYC brokered the record-breaking deal and will supervise the build of the yachts.

“This incredible deal brings The Italian Sea Group and IYC even closer together, solidifying a relationship that started 12 years ago,” said Chryssicopoulos. “We have absolute faith in the vision and goals set by Giovanni Costantino and the Italian Sea Group team. Together, we are looking forward to these successful deliveries.”

The transaction increases IYC’s yachts under construction with TISG to seven superyachts, five of which are above 70m. The yachts have been designed by TISG’s in-house design firm, Centro Stile, complete with a helicopter landing platform, seven VIP and guest cabins and 10 crew cabins.

The deliveries of the new Admiral GC-Force 70 yachts are scheduled for 2026, 2027 and 2028.