Ironically, despite her venerable age of more than half a century, this charming and compact vessel feels like a breath of fresh air in the world of gigantic, over-the-top megayachts. With her slender silhouette and Golden Era charm, Odyssey III is a priceless gem that has stood the test of time and will continue to delight generations to come.
If classic yachts were collector’s items, this beautiful Benetti would surely be one of the most sought after. Delivered in the late 1960s, she is officially a modern classic with the elegant profile and dignified interior of a gentleman’s yacht.
What makes this modern classic particularly valuable is its Italian origins. Odyssey III is one of the finest classic Benetti yachts still in service, and Benetti is one of the world’s leading superyacht builders, synonymous with exquisite style and impeccable quality. Contemporary Benetti sports boats are multi-million dollar luxury toys that few can afford. In comparison, this little $5 million yacht seems like a bargain.
It’s true that the Odyssey III is not only older, but also much more compact than today’s typical luxury yachts. At just over 100 feet (33 meters) long, this gentleman’s yacht-style vessel was part of Benetti’s Mediterraneo 33 series.
Originally named Admiral Bolitho, it was restored and modernised in 2018 at the prestigious Pendennis Shipyard in the UK. The location makes sense knowing that the yacht’s presumed owner at the time was a baronet. The classic Odyssey III was linked to the Sykes family, known as the owners of the historic Sledmere house in Yorkshire. What better combination than that between a classic gentleman’s yacht style Benetti and a baronet family?
During the restoration, the structural integrity of the old yacht was reinforced, and she then received several upgrades to bring her up to date. One of the most impressive additions, for example, is a side boarding ladder that makes access to and from the water easier – a concept originally used on early Feadship yachts.
Underwater lighting, anchor stabilizers and modern audio-visual systems are part of the 1967 yacht’s modern arsenal. At the same time, she maintains her purely classic interior style with extensive woodwork and ornate decor – she may look dated to some of today’s superyacht enthusiasts who embrace minimalism, but true connoisseurs will appreciate her historical flair.
The revamped Odyssey III currently accommodates up to eight guests in four cabins and features beautiful outdoor spaces and an opulent main saloon. As a luxury charter yacht, she also features modern water toys, but these seem to clash with her classy, celebratory silhouette. In a way, she combines the best of both worlds.
As is often the case, this classic Benetti has lost some of its value over time, despite its extensive refit. Two years ago it was priced at over $7.5 million; this month it sold for €4.5 million ($4.9 million). Despite current and future market fluctuations, this delightful modern classic is priceless in terms of style, history and Benetti heritage.
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