The King of Spain's yacht went down in price by 20%

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The yacht of the King of Spain, Juan Carlos, which was put up for sale a couple of months ago, has significantly lost in value.

As reported by The Guardian, the luxury vessel has fallen in price by 20% - from €10 million to €8.25 million.

Arrival Yachts, the agency that is selling the vessel, was forced to lower the rates as there were no buyers interested in purchasing the yacht.

Some experts believe that the decrease in price of the boat is related to the recent abdication of the King, but sellers deny the connection of the two events, and argue that it is solely the lack of demand. If it does not appear, the price may be reduced to € 7 million and even € 5 million, representatives of the agency said.

Juan Carlos received the boat Fortuna as a gift more than 13 years ago, but has now decided to give it up because it is too expensive to maintain. It takes about €20,000 to refuel the boat.

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