Police recovered the body missing yachtsman, Alan Bullock, of Wodonga, last Wednesday.
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Mr Bullock's body was located near the stricken vessel and flown back to Mallacoota.
The 65-year-old's yacht was found smashed on rocks near Mallacoota by an abalone diver sparking a massive search involving police, SES, Parks Victoria, RAAF Search and Rescue and others.
He had set sail from Paynesville on his maiden voyage and was headed to Eden.
Coast guard spokesman John Rudge said it was unclear what went wrong.
"With a lone sailor, a lot of things can go amiss," Mr Rudge said.
"The position of the boat seems to indicate that it may have been drifting for some time," he said.
"It didn't appear as though it was under power the way it went up on the rocks.
"People ... don't realise how many yachts are travelling between Victoria and NSW.
"They all pass us on this south-western corner of Australia and the weather conditions can change rapidly.
"You have to be aware of what you're doing," he said.
It is unknown whether a mayday call was ever made.
Victoria water police will lead the investigation into the cause of death.