Penelope is more than a classic American yacht – it’s a rare US-built family expedition yacht or pocket explorer (meaning it’s under 50 meters/164 feet in length) that wasn’t born that way but became it through an impressive, award-wining refit completed by its original builder. Unfortunately, market dynamics always dictate a yacht’s price tag, despite of its actual worth, and in Penelope’s case, this difference was too big.
Penelope combines two exceptional qualities that almost turn it into a 2-in-1 yacht: it’s a rugged pocket explorer/fishing mothership and an elegant family expedition yacht at the same time. What’s more impressive is that everything is wrapped in a compact 118-foot (36-meter) silhouette that allows greater flexibility and access to areas that are unreachable for larger vessels.
Penelope is also a classic with a twist. Originally delivered in 1990, the extensive 2008 refit that won awards and was widely acclaimed virtually transformed it into a new yacht, inside and out, without compromising its classic character. This wasn’t a simple technical upgrade, just enough to keep it commercially relevant – it was a beautiful transformation, entirely geared and supported by its owners at the time.
Photo: Denison Yachting
The mysterious owner that changed Penelope’s destiny was said to be a Californian with a background in the aluminum industry, who was intrigued by the classic yacht’s solid hull and proven design. At the time, Princess Gloria was more than 15 years old.
The original full-displacement yacht was 105-foot-long (32 meters) and built on a proven commercial fishing hull with GRP construction – the exact coordinates you’d expect from one of the top fishing boat shipyards in the US. Founded in 1967 by brothers Jack and Ivor Jones, the Seattle-based Delta Marine specialized in building fishing boats that were rugged enough for the Pacific Northwest waters.
Princess Gloria was delivered at a time when Delta Marine was already making a transition from fishing boats to motor yachts. Soon, it focused exclusively on custom superyachts, but it’s no wonder that the original fishing boat DNA is still present in yachts like Princess Gloria, who also became one of the very few US-made explorers in this size range.
Photo: Denison Yachting
Back to the Californian owner who bought Princess Gloria determined to transform it into the fishing/expedition yacht of this dreams – Delta Marine agreed to embark on an ambitious project that would end up taking 16 months. Delta Refit & Repair has completed many complex refits over the years, including several of its own yachts, but few were “as personal and extensive” as this one, also described as “a dramatic transformation.”
In a nutshell, what the new owners wanted was more fishing space, more storage for water toys, outdoor areas for dining and lounging, plus a modernized interior. Both owners were actively involved in the refit. The owner’s wife used her own interior design skills, in collaboration with Delta Design Group, to refresh the yacht’s looks.
The master suite was large windows and a walk-in wardrobe, while one of the cabins was turned into a gym. A raised hardtop was added to the flybridge to create a more welcoming outdoor space with a hot tub, a wet bar, C-shaped seating, and the helm station. The interior design was entirely refreshed in a family-friendly, modern-classic style.
Photo: Denison Yachting
The exterior refit is the most impressive part of the transformation. On one side, it was about reinforcing the yacht’s sport fishing capabilities, and on another side it was about extending its explorer-like performance. According to Delta Marine, the owner was an avid fisherman, which explains his personal vision for Princess Gloria (renamed Stampede after the refit).
The length was extended from 105 to 188 feet, but this wasn’t just sheer length – it resulted from building a new fishing cockpit into the original hull, which was acclaimed as a design innovation and remarkable engineering. That refit was also when Stampede got its signature blue hull and new teak decking.
With this refit, Stampeded won amenities such as an aft-deck table for ten, a tucked-away seating area behind the main salon, a small service bar, and an extended boat deck that could accommodate a much larger tender. The owner was the one who redesigned the flybridge, including the hardtop that was specifically adapted to his height, and the addition of a new jacuzzi.
Photo: Denison Yachting
By 2008, following this extensive transformation, Stampede looked and sailed like a new yacht. The results were so impressive that the 1990 Delta yacht fetched both the Fairfax Trophy and Neptune Award for Refit of the Year at the 2009 World Superyacht Awards – a testament not just to the original builder who also completed the refit, but to the visionary owners themselves.
Thanks to that refit, Penelope features to this day a modern fishing cockpit that any avid fisherman would covet. It features a massive livewell (the dedicated tank for freshly caught fish), a fishing ice chipper with a 600 lb/day capacity, a boat deck icemaker, plus extensive rod-and-gear storage.
As an adventure yacht, Penelope features dual hydraulic cranes for handling two onboard tenders and a Sea-Doo (a new 2024 model), plus kayak and paddleboard racks with storage for up to four units. A dedicated 450-gallon refueling station keeps the tenders going during extensive expeditions, as well as dedicated water storage of up to 2,000 gallons. All of this supports Penelope’s adventure cruises and reliable autonomy for long periods of time at sea.
Photo: Denison Yachting
Penelope is one of the rarest sub-50m long-range explorer yachts built in the US, capable of a transoceanic range of 6,000 nautical miles (11,100 km) at 10 knots (18.5 kph). It burns approximately 32 gallons/hour, and its tanks can hold up to 20,000 gallons of diesel. Couple this range and autonomy at sea with a full commercial-grade fishing cockpit and proven tender storage/handling capabilities, and you get an awesome pocket explorer and vacation yacht.
This award-winning refit wasn’t the final step. Over the years, Penelope continued to upgrade its technical features and interior design through expensive refits. Most recently, it received a new Atlas shore power converter, a night generator, and dual Starlink Maritime antennas for high-speed internet. All soft goods onboard were also renewed in 2024.
Navigation and electronics are also extensive. The 2008 mega-refit included new navigation, electrical, and mechanical systems. Over the years, they were upgraded or replaced. Today, Penelope features two radars, multiple chartplotters, multiple radios, a Garmin GPS system, a Simrad autopilot, plus high-speed internet. All of this contributes to its remote expedition capabilities in full safety.
Photo: Denison Yachting
The sad part is that, although all the refits that this yacht underwent over the years are worth roughly $14 million, its market value never truly reflected that, and it shows in the price tags. A refitted classic yacht in excellent shape, that was never chartered (only privately used) and that was continuously upgraded should be worth more than the cost of its refits, not much less.
Penelope has recently changed hands again. Back in 2015, the owners who transformed this classic American yacht parted with it (that’s when it was renamed Penelope). At the time, this refitted classic yacht was still worth almost $10 million. The good part, some might argue, is that its value hasn’t dropped too low in almost a decade, since Penelope’s last asking price in April 2026 was $7.95 million.
Still, this is way less than what Penelope is worth given its award-winning transformation and multiple upgrades following that. Whoever the new owner is, they were lucky to grab this classic Delta at this price and will hopefully keep it in excellent shape for many more decades.
