Feel like splashing out on Father's Day? Why not register the old man to bid for a 24m, 111-ton cocaine ship that will be auctioned next month in Gqeberha (Port Elizabeth).
The Atlantic Explorer 1, a former research vessel, is the first of a fleet of crime syndicate assets to go under the hammer following a drug bust in Saldanha on the west coast.
Prospective bidders might also be interested in a 34m, 296-ton Panamanian-flagged fishing vessel, two cars, or a yacht previously moored at Club Mykonos on the Langebaan lagoon. All were seized in terms of a confiscation order signed on May 14.
The seizure was the outcome of one of the most successful police anti-drug operations to date. It was carried out off Saldanha on March 1 and netted cocaine worth R583m.
Four Bulgarians and six sailors from Myanmar were arrested and charged with dealing in drugs.
An "extensive" intelligence operation led to tactical forces descending on a fishing vessel named Windward late at night. They found 973 blocks of compressed cocaine in three compartments.
The vessels were part of a global drug-trafficking operation in which the Atlantic Explorer 1 was used to ferry drugs between Saldanha and larger vessels that sailed between SA and Australia.
Ariella Kuper from Solution Strategists confirmed the judicial sale, which is being held online and is likely to attract bids from local and international ship operators.
"Given her small size, [the Atlantic Explorer 1] is ideal for both research and survey purposes as well as small-scale legitimate fishing," she said.
"I would imagine demand will be mostly regional given her size and the age of the vessel, providing growth opportunity for small and medium enterprises and more junior players entering the industry."
Court documents attached to the sale reveal the scale of the drug syndicate. The key figure is Asen Georgiev Ivanov, a 51-year-old Bulgarian. He and two accomplices were sentenced to a collective 60 years' imprisonment on drug-related charges.
In the bust, the state also seized cash amounting to $1.12m (R16m) and ?4,300 (R73,000).
According to the confiscation order, Ivanov admitted the cash was "proceeds of previous drug-dealing activities and that the money was in his possession to facilitate the drug-dealing activities for which he was arrested".
The seized cars, a Hyundai Sonata and a Hyundai Elantra, were registered under false names, as was the pleasure craft moored at Club Mykonos.
Ivanov bought the Atlantic Explorer 1 from a Myanmar businessman in February 2017, according to documents seen by the Sunday Times. The vessel was inspected in April.
"Minimal documentation was available, with only copies of certain certificates on board," said Kuper.
She said judicial auctions of vessels were not uncommon in SA, which had a solid legal framework under admiralty law.
"SA has proven itself an extremely attractive location for ship arrests on behalf of international banks and institutions," she said.
Last year a tanker was sold for $25m.
SA has proven itself an extremely attractive location for ship arrests on behalf of international banks and institutions
Kuper will be hoping the vessel fetches substantially more than the ill-fated Eagle Star, a 50m-long former government patrol vessel that in 2007 fetched just R302,738 at a public auction.
It was said to be worth between R5m to R10m. The price was all the more surprising given that the ship was sold with a full tank of diesel, worth about R200,000.
The sale prompted questions in parliament and an investigation by the department of environmental affairs' marine and coastal management division.
A fishing industry source said the Saldanha arrests raised questions about how the vessels came to be in the service of a criminal syndicate.
The Windward was brought to SA to work in the tuna sector. It was part of a growing fleet not accommodated in the current quota system, the source said.
"Why did people just walk away from the tuna industry?" he asked.
SA is also well positioned to be a trafficking springboard because of its proximity to major shipping lanes, with Mozambique a major drug-cargo thoroughfare.
In 2010 five Chinese nationals were arrested in Knysna, along with the seizure of R380m worth of cocaine and ingredients for making other drugs.
The police breakthrough followed a tip by Knysna residents who noticed suspicious activity involving a luxury Chinese-owned boat moored next to an upmarket waterfront apartment.
Those hoping to bid at next month's auction of the Atlantic Explorer 1 may need to dip into their savings: the refundable auction registration fee is R50,000.
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