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What it's like to cruise like a mogul

  • "RM Elegant" is a 262-foot luxury megayacht
  • Lavish parties have been thrown on the yacht, which is now on sale
  • Diddy chartered the vessel in 2006 for a party in Saint-Tropez
  • Sailing
  • Celebrity News

(CNN) -- It's been the pleasure ground for moguls, Hollywood stars and other members of the glitterati -- and now it's on sale.

The 262-foot luxury superyacht "RM Elegant," which has played host to high-end bashes, most notably one thrown by party king Sean "Diddy" Combs, is on the market.

The hip hop tycoon, who has a penchant for luxury on the high seas, rented the boat for a decadent party for more than 130 guests in Saint Tropez in 2006.

The "RM Elegant" is being sold by broker Edmiston, which declined to disclose the owner's asking price.