A superyacht, believed to have a market value of approximately $6.2 million, has sunk off the coast of the Greek island of Mykonos.

The superyacht appears to be a Custom Line Navetta 33, according to Yacht Harbour, which quoted unnamed sources who claimed the yacht sank after suffering electrical problems which prevented safety equipment from functioning, reported The Daily Mail.

A report by Superyacht News suggests the vessel had hit a reef.

None of the occupants were injured, and they were rescued from the sinking vessel and taken to shore.

It is unclear who the owner or current residents of the superyacht are, but it did have an American flag flying before it sank.