It’s no surprise to see that Saudi Prince Abdulaziz’s 482-foot yacht has been spotted traveling throughout the Mediterranean lately (where the picture above was snapped), along with nearly every other billionaire baller’s big ship(s). What is significant is that the enourmous cruise ship looking yacht is no longer the second largest yacht in the world. It’s dropped to third place. Right behind the newly launched 508-foot Lürssen Al Said, owned by Sultan Sayyed Qabus bin Said of Oman. Neither boat quite measures up to Sheikh Mohammed bin Rashid al-Maktoum’s (Crown Prince of Dubai) 530-foot Project Platinum, originally commissioned by Jefri of Brunei, who was forced to fork over the boat after it became known that he’d blown through far too much state money to fund his playboy lifestyle.

Middle Eastern royalty is now holding down the top three spots on the world’s biggest yacht list, with Larry Ellison’s 452-foot Rising Sun coming in fourth. All we’ve got to say is it’s time to step it up Larry.

[via Monacoeye]

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Monacoeye got its hands on some shots of Guilty, the wild Jeff Koons decorated yacht pictured above. Recently launched, Guilty’s owner and major art collector Dakis Joannou appropriately celebrated the boat’s christening with a guest list of big wigs in the contemporary art world.  Built this year in an unnamed shipyard near Rome, the 114-foot Guilty was designed by Ivana Porfiri and decked out by Koons in a colorful pattern surprisingly inspired by WWI camouflage. Although it looks a little like a houseboat, we’re a fan of the attempt and will be on the lookout for more pictures of this artistic yacht.  The boat has recently drawn quite a bit of attention off the coast of Greece, where the pictures shown were snapped.  Follow the jump for another image.

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Here’s a sneak peek at what will be one of the most baller yachts in the world when it launches in 2010. Known as project “Hull #6154,” the seven-deck 438′ yacht is currently under construction at the Fincantieri Yachts yard, where it’s just been transferred to an indoor shed for the next stage in the build process.

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Want to combine deep sea fishing with a luxury yachting experience? New Zealand boat builder Sovereign Yachts just recently launched a new 103′ Sportfisherman that serves both functions equally well. The boat, dubbed “Al Duhail,” comes with accommodations for 10 guests and 4 crew and features a luxurious interior, as you’d expect on a yacht of its size. At the same time, the fishing yacht is equipped with two game chairs on the rear, allowing for an ample amount of fishing space. Al Duhail is the first of two Sportfisherman 103’s designed by Warwick Yacht Design. We’re not sure whether or not the boat’s have been spoken for yet. We do know that the second unit is under construction and will be built to similar specs as Al Duhail.

For more information: Sovereign

[via Yachtforums]

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Looking to add a little adventure to your summer? Absinthe, a retrofitted discovery yacht, is on the market equipped with a full artillery of water toys and other leisure equipment. On board you’ll find an activity tender, a 17-foot Polaris tender, a 17-foot Novurania boat, two Waverunners, 10 sea kayaks, a diving compressor, extensive fishing gear, waterski and wakeboard equipment, and five mountain bikes. There’s also an option to purchase the yacht’s helicopter. On board, the discovery yacht has a massage room, a guest library, an office, an eight-person Jacuzzi tub, a grand piano, and accommodations for 12 guests and 18 crew.

Designed to cruise everything from remote tropical waters to extreme winter conditions, Absinthe makes the perfect expedition yacht whether you’re using it to scout new surf spots or cruise the Inland Passage. Despite the boat’s rugged good looks, it sports a classic luxury interior with modern touches, like the bomb table in thumb

Built in 1973 by Astilleros y Talleres Celaya S.A., Absinthe was completely rehabbed between 2002 and 2005, with interiors by Civitella Designs. At the moment, the discovery yacht resides in Antibes and exclusively cruises the Med. The cost to purchase Absinthe outright is $15.95 million, although you can charter the boat by the week for 168,000 euros, or approximately U.S. $260,000.

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