With its elegant design, luxury cabins and rich blue hull, it was never going to come cheap.

So it has proved, as Bermuda-based Dutch oil tycoon John Deuss put his glamorous three-masted up for sale ? at a cool $14.75 million.

The vessel, regarded as one of the finest three-masted schooners in the world, has been one of the most recognisable sights in Hamilton Harbour for many years.

But multi-millionaire Mr. Deuss, 64, is currently in custody in his homeland after being voluntarily extradited from the Island in connection with an international tax scam earlier this year.

He is now selling through international yacht broker Edmiston, which is inviting bids from all over the globe.

Captain John Moore, of Meyer Shipping, said he had been on board many times.

Mr. Moore said: "She's a beautiful ship - a very elegant vessel both for the passengers and for the crew.

"She was built as a fishing vessel years and years ago, but was converted into a private yacht. It was very nicely done.

"I'm not a ship buyer, so I couldn't say how much she is worth. But you can see the elegance as soon as you go aboard, with all the stainless steel and brass, and the teak decks."

Mr. Moore said there was still a chance could remain in Bermuda in the long-term.

He said: "Bermuda plays host to a great number of yachts, so it wouldn't surprise me if she did come back here - though maybe not with the same owner."

The 187-ft , which boasts six luxury cabins for guests and a further eight for crew, was built in 1960 at the renowned Dutch shipyard De Vries Lentsch. It was previously known as Carita and then Argonaftis, but Mr. Deuss changed its name when he took possession and revamped it.

The schooner has spent much of the past two years in the Caribbean, where it has taken part in the prestigious Antigua Classic Yacht Regatta, a race for long, heavy traditional vessels made from wood or steel.

Edmiston's website states: "The current owner changed not only her name when he took possession of this fine yacht.

"Fleurtje has extremely elegant lines. The long overhangs at bow and stern, the rich Awlgrip blue hull and three Douglas Fir masts with stay sail plan, combine into a handsome profile.

"Such is the degree of ongoing improvements that she is now, certainly, one of the finest three-masted schooners afloat."

Mr. Deuss, the former chairman of Bermuda Commercial Bank (BCB), who has an office in Flatts, was arrested following his voluntary extradition on October 19.

The Royal Gazette reported last month how he could face spending Christmas behind bars after a judge in the Netherlands ordered he be remanded in custody for another 90 days.

He is being questioned by prosecutors in connection with an international tax scam, known as carousel fraud, which robs European governments of billions of dollars each year.

Fraudulent traders are suspected of having stashed hundreds of millions of dollars in illegal tax gains in accounts at his Caribbean-based First Curacao International Bank, which is the largest shareholder in BCB.

A warrant issued for Mr. Deuss' arrest listed allegations of money laundering, handling stolen property and being in charge of a criminal organisation. He denies any wrongdoing.

The tycoon is reported to have earned fabulous riches through his interest and skill in oil trading.

In the 1970s, he struck a massive oil trade deal with the USSR and took shipment of a reputed $122 million-worth of Soviet oil.

During the late 1970s and 1980s he made a fortune selling oil to South Africa despite an international trade embargo, and in the 1990s played a leading role in a $230 million deal between US oil company Chevron and the Kazakhstan Government.