Ironically, despite her venerable age of over half a century, this lovely, compact vessel seems like a breath of fresh air in the world of oversized, over-the-top megayachts. With her graceful silhouette and golden-era charm, the Odyssey III is a priceless gem that has stood the test of time and will continue to delight generations to come.
If classic yachts could be considered collectors' items, this beautiful Benetti would certainly be one of the most coveted. Delivered in the late 1960s, she is officially a modern classic that boasts the elegant profile and dignified interior decor of a gentleman's yacht.
What makes this modern classic especially valuable is its Italian pedigree. Odyssey III is one of the most beautiful classic Benetti yachts still in operation, and Benetti is one of the world’s finest superyacht builders, synonymous with exquisite style and impeccable quality. Contemporary Benetti pleasure boats are multimillion-dollar luxury toys that are affordable to a select few. By comparison, this small $5 million yacht seems like a bargain.
It’s true that, in addition to her age, the Odyssey III is also noticeably more compact than today’s typical luxury yachts. At just over 100 feet (33 meters), this gentleman’s yacht-style vessel was part of Benetti’s Mediterraneo 33 series.
Originally named Admiral Bolitho, she was restored and upgraded in 2018 at the prestigious Pendennis Shipyard in the UK. The placement makes sense, knowing that the yacht’s alleged owner at the time was a baronet. The classic Odyssey III was linked to the Sykes family, known for owning the historic Sledmere house in Yorkshire. What better pairing than a classic Benetti in the style of a gentleman’s yacht and a family of barons?
During the restoration process, the structural integrity of the old yacht was strengthened. Afterwards, she was given several upgrades designed to bring her up to contemporary standards. For example, one of the most impressive new features is a side boarding ladder that facilitates access to and from the water, a concept originally used on early Feadship yachts.
Underwater lights, anchor stabilizers and modern audio-visual systems are part of the 1967 yacht’s contemporary arsenal. At the same time, she retains her purely classic interior style with extensive woodwork and rich, ornate furnishings – she may seem outdated to some of today’s superyacht enthusiasts who are all for minimalism, but true connoisseurs will appreciate her historical flavour.
The revamped Odyssey III can currently accommodate up to eight guests in four staterooms, boasting stunning outdoor areas and an opulent main salon. As a luxury charter yacht, she also features modern water features, even if they seem to clash with her noble and stately silhouette. In a way, she blends the best of both worlds.
As is often the case, this Benetti classic has lost some of its value along the way, despite extensive restoration. Two years ago, its price tag was over $7.5 million; this month, it sold for €4.5 million ($4.9 million). Despite the market fluctuations now and in the future, this lovely modern classic is priceless in terms of style, history and Benetti heritage.