Dramatic footage is circulating of an $11.3 million luxury superyacht sinking into the Ionian Sea off Italy.
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Coast guard officers captured the footage of the yacht as it disappeared below the surface of the water.
It's understood the coast guard was able to rescue the nine people onboard before the yacht went under.
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The vessel, believed to be named 'My Saga', was drifting through the Gulf of Squillace on Saturday when it sent out a distress call.
The Italian coast guard responded and on arrival, found the yacht's stern filling with water.
Italian wire service ANSA reported that the yacht was located nine nautical miles off the coast when it began sinking.
The rescue operation was an overnight endeavour. Four passengers were rescued immediately, while a tugboat returned the following morning to haul the yacht to shore and retrieve the remaining crew members.
It sank in the early afternoon once all members of the crew, including the captain, had been brought to safety.
Italian media have not yet reported on who might be the owner of the 15-year-old multi-million dollar vessel.
Authorities will investigate the cause of the sinking.