One wannabe pirate could have found himself in the possession of a $3.2 million yacht if it weren’t for his complete and utter incompetence. The bumbling bandit managed to gain control of an 80-foot Hatteras, only to crash it less than a minute later, sending it sinking into the marina.

The embarrassing incident took place at around 11:30 pm at the Miami Beach Marina. According to police, the man didn’t get far before ramming the luxury yacht into a concrete pier and several other boats before finally ditching it. The boat began taking on water shortly after, despite the efforts of authorities.

One witness claims that the thief, who is being pursued by the Coast Guard and remains at large, seems to have been intoxicated or otherwise impaired. He allegedly kept piloting the boat back and forth, ramming into boats in the process, before screaming for help and jumping into the water.

The next morning, authorities learned that there had been a second attempted theft of a yacht at the same marina, but there is no word as to whether the incidents are connected. For the time being, the owners of the marina plan to add additional security to thwart any would-be copycat pirates.