The 960-passenger cruise ship Gemini will go under the hammer in Greece on October 21, 2026, with a starting price of €3,805,462 — a figure based on what the vessel would fetch as scrap. Financial portal New Money reports the auction is being run by Anira Shipping Services to settle a claim of roughly €22,772, a strikingly small amount compared with the debts that sank the ship's operator.

The Gemini's troubles date back to spring 2025, when the 1992-built vessel spent two months anchored off Karystos before Greek authorities arrested it in June. A Greek court stepped in over unpaid debts owed by Miray Cruises to DenizBank, a Turkish lender. Things got worse for the people aboard: crew members said salaries went unpaid, and the International Labour Organization eventually classified the ship as "abandoned."

Now the 20,000-ton ship sits near Piraeus under the Eleusis Coast Guard's watch, barred from sailing in Greek waters and sold strictly "as is, where is." A recent technical assessment by a local naval architect and mechanical engineer paints a rough picture. Long-term neglect has left the piping in bad shape, and corroded steel needs replacing in many areas. The ship has also lost certifications and currently sails under no legal flag at all.

There is a silver lining for anyone in the maritime business: the report notes that the mechanical, rescue, firefighting, hotel, anchoring and mooring equipment is unmaintained but usable — either as-is or stripped for spare parts on other vessels. That salvage value, rather than any seaworthiness, underpins the reserve price.

For travellers, the story is a cautionary tale. Miray had been running Greek Island cruises from Turkey through summer 2025 and had promoted Aegean and Black Sea itineraries for 2026 — plans that evaporated with the arrest. Anyone considering a small or budget cruise operator in the eastern Mediterranean should check a company's financial footing and look for consumer protections like credit-card payments or third-party bonding before paying up front.

For ship spotters and cruise watchers, the auction is the likely end of a three-decade-old vessel that spent its final season shuttling holidaymakers between Turkey and the Greek islands. Bidders on October 21 will effectively be buying a floating parts inventory, not a working cruise ship — and a cautionary chapter in Aegean cruising closes with a gavel.