Clive Palmer splurges $8.3million on super yacht and gives it a touching name - as he makes waves in Queensland's billionaires' playground

Billionaire mining magnate Clive Palmer has purchased a $8.3million super yacht and renamed it after his late mother.

Mr Palmer reportedly arrived at Hamilton Island, in Queensland's Whitsundays, last week to take possession of the 12-foot Sunseeker.

He purchased the boat, previously known as Vegas, from a businessman in July, the Sunday Telegraph reported.

Billionaire mining magnate Clive Palmer has reportedly named a $8.3million yacht he bought in June after his mother

The boat was previously named Vegas. However, when it appeared last week, the superyacht had been repainted and renamed the Nancy-Jean

However, when it appeared last week in the resort playground, the superyacht had been repainted and renamed the Nancy-Jean.

The boat is named in honour of Mr Palmer's mother, who died in 2014. 

She was in her 90s when she passed away 'peacefully'. 

Residents said the arrival of Mr Palmer's yacht has 'turned a few heads' for many reasons - in an area where it isn't unusual to see a luxury boat.

One said it was 'very bad juju' that the boat had been renamed.     

'Re-christening a boat is considered bad luck to boaties,' said one local.

The boat (interior pictured) is named in honour of Mr Palmer's mother, who passed away in 2014

'A boat's original name is recorded in what we call a "ledger of the deep" and changing it is considered very bad juju. It can be done but it's extremely uncommon.' 

Renaming a boat involves destroying log books with the old name. 

Others were simply captivated by the mere size of the three-storey vessel initially purchased in 2009.    

Daily Mail Australia has contacted Clive Palmer for comment.