THIS is the shocking moment a yacht worth almost £1 million sank near Majorca before five people including a child were rescued. The terrifying footage shows the entire half of the vessel submerge into the blue sea off Camp de Mar in Andratx on Saturday morning. Five passengers on the ship were rescued but the yacht eventually fully sank by 5pm according to Euro Weekly News .

Bild reports the value of the ship to be £800,000. Port Adriano in Calvia town sounded an emergency alert at around 10am as soon as they noticed the vessel starting to sink. Europe's Maritime Safety Agency sent a boat out immediately while cops made their way to the scene.

Rescuers didn't arrive in time but a private boat managed to pick up five people aboard instead. Only five were aboard the ill-fated vessel before they were brought to safety in nearby Port Adriano, south-west Majorca . Passengers on the yacht included a German couple with their son.

Authorities say the inside of the luxury boat completely flooded as the boat started to sink. Spanish cops have yet to reveal the cause of sinking but reported no contamination from the boat itself. This comes after a luxury superyacht started to sink after a crew member left a door open - causing water to flood the interior.

The luxury 150ft vessel dubbed "Ethos" was carrying five wealthy tourists when it dramatically started tipping over as waves crashed into its side. Sat just off the coast of Kefalonia, Greece, in the Paleokaravo Bay, the £180,000-a.