Yacht Broker Selling OceanGate Sub For $750,000

A yacht broker is selling an OceanGate manned submersible, which can carry five people to depths of 305 meters (1,000 feet). However, after the implosion of the company’s Titan submarine last month during an expedition to the Titanic wreck site, there are concerns that selling the sub may be near impossible. 

Steve Reoch, an expedition-yacht broker, told Bussiness Insider that he’s trying to offload OceanGate CEO Stockton Rush’s 1995-built Antipodes sub. He has represented sales for other submersibles and said this sub was Rush’s first sub. 

Antipodes is listed on Yatco’s website for $795,000. 

Reoch told Insider that Antipodes would likely be “tied up in litigation for years” because OceanGate has suspended commercial and exploration operations following last month’s incident. He said he’ll remove the listing because “I don’t want to have anything to do with it.” 

He said the 13.7-foot-long sub has been for sale for several years with very little interest. With Oceangate’s Titan submersible incident, the probability of finding a buyer has likely crashed to zero. 

“We’re in the process of disassociating ourselves from the vessel because it won’t sell,” he said, adding the listing will be taken down in a few weeks. 

And who would want to purchase a three-decade sub? Nevertheless, Insider said Titan had a success rate of reaching the Titanic wreck site 14% of the time.