Just a day after being launched, all that could be seen of the £150,000 Wauquiez 43 Arctic High was its mast sticking out of the water. The boat was lauched at Fox’s Marina, Wherstead, near Ipswich, on Tuesday.

It was only when marina staff looked at CCTV footage that they realised the yacht had gradually sunk until it was completely underwater. ‘We have no idea why it sunk. There was just a mast sticking out of the water,’ said the harbour master. The owner, who had bought the yacht from new, is said to be ‘devastated’.

A huge salvage operation was mounted yesterday involving a crane barge courtesy of Haven Ports Construction. Divers attached strops underneath the yacht so the crane could gradually lift the vessel out of the water. While this was going on, a machine was pumping water out of the boat.

The yacht was lifted entirely clear of the water last night and is now resting in the marina’s travel lift. Insurance surveyors will now assess the damage and decide whether the yacht can be repaired or whether it is a write-off.