Ocean Victory has seven decks, and an internal floatable dock for a 14m tender.
Its construction was completed in 2014 and it docked in Auckland's Wynyard Quarter this morning, at Silo Park Marina.
The yacht had travelled from Fiji. It's expected to stay in the City of Sails until mid-September.
However, it's not known whether Rashnikov is on board.
Rashnikov, 66, is a self-made billionaire, who started at Magnitogorsk Iron & Steel Works as a mechanic and rose to be its general director, with almost 100 per cent shares in the business.
His net worth is US$4.7 billion ($7.2 billion) according to Forbes, which placed him as the 28th richest person in Russia.The superyacht was built by Fincantieri in Italy, and its interior was designed by Alberto Pinto.