A 106-foot (about 33 m) Italian motor yacht, believed to be a Custom Line Navetta 33 named Aloha, ran onto a reef off Mykonos, Greece, at about 5 a.m. on August 20, 2015, and sank. All four guests aboard were reported to have escaped unharmed. The yacht was estimated to be worth between $6 million and $12 million, depending on the source and the boat’s age.
What we know about the sinking
| Fact | Detail |
|---|---|
| Date | August 20, 2015, about 5 a.m. |
| Place | A reef between Platis Gialos and Psarrou, Mykonos |
| Vessel | Reported as a Custom Line Navetta 33, possibly named Aloha, delivered in 2009 |
| People aboard | Four guests, reported unharmed |
| Value | Roughly $6 million to $12 million (estimates vary) |
| Cause | Hit a reef; port officials started an investigation, no official findings seen |
How much was the yacht worth?
Trade reports quoted about $11.2 million for a new Navetta 33 and about $6.2 million for a boat roughly five years old. For a 2009 build in 2015, that makes the $6 million figure a fair midpoint. We put it in the $6 million to $7 million range, and treat the higher numbers as new-build prices.
Where did it sink?
Mykonos is part of the Cyclades, the Greek island chain made for yachting. The reef sits between the resort beaches of Platis Gialos and Psarrou, an area where wealthy visitors spend their summers. Photos from the scene showed the yacht mostly flooded, with only the bow above water.
The port authority set up a boom around the wreck to catch any fuel or oil, and local reports said officials began an investigation. The Mykonos Port Authority did not comment on its findings.
Why did it sink?
The yacht hit a reef. One report from a yacht-industry site cited anonymous sources who said electrical problems stopped safety equipment from working, but another trade outlet could not confirm that, so we treat it as unverified.
Who owned it?
That was never settled. One report said the yacht belonged to an American owner and flew a US flag; a local TV report said it belonged to a Turkish businessman. We did not find an official statement, so we leave the owner unnamed.
The yacht was reportedly delivered in 2009 by Custom Line, built in Italy, with five guest cabins for ten guests. Its interior was set up for a jet-setting owner. For a look at a yacht with the same ambition, see this one.
It was reported to be the second yacht to sink in Greece that summer. The scene was filmed on many smartphones and spread fast on social media. What would you do in that situation?
Keep reading
- the most expensive yachts ever built: what a yacht costs when it does not sink
FAQ
When and where did the yacht sink?
On August 20, 2015, at about 5 a.m., on a reef between Platis Gialos and Psarrou on Mykonos, Greece.
What type of yacht was it?
Reports described a 106-foot (about 33 m) Custom Line Navetta 33, possibly named Aloha, delivered in 2009.
Was anyone hurt when the yacht sank?
No. All four guests aboard were reported to have escaped unharmed.
How much was the sunken yacht worth?
Estimates run from about $6 million to $12 million: a boat about five years old was valued near $6.2 million, a new one near $11.2 million.
Why did the yacht sink?
It struck a reef. Port officials opened an investigation, and no official cause has been published that we could find.
Last updated: October 2026.
