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VIDEO: Multimillion-dollar boat explodes in flames

A new $4 million yacht delivered to the new owner at an Australian marina, went up in flames this week.

The 79-foot 2010 model Horizon Skylounge, built in Taiwan, was a total loss as firefighters battle the dockside blaze for hours before extinguishing it.

The scene attracted many onlookers, including one who videotaped the burning boat.

Click here for the full report by The Herald Sun, which includes the video.