The most expensive yacht?
- Thread starter NorthStar
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still-one
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When does a yacht become become a small cruise ship?
TheOctopus
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Yep, an impressive yacht indeed.
I sailed (on a chartered sailboat, not my own, sailing from St.Maarten to St.Barts) right by the Eclipse while it was moored there for the New Year holidays some years back. It is even more impressive in person. Rumor had it, Roman Abramovich, the owner of Eclipse, hired Red Hot Chilli Peppers ($5Million) for a New Year's Eve celebration private concert for him and his cronies for whom he rented villas on Saint Barts.
He sure is a successful businessman for a guy who started his life by selling "rubber ducks"... I'm not kidding.. But that's what happens when you are close to political leaders and a very good personal friend of Putin himself. Vouching for Putin at the right time in his life has paid off big dividends...
I sailed (on a chartered sailboat, not my own, sailing from St.Maarten to St.Barts) right by the Eclipse while it was moored there for the New Year holidays some years back. It is even more impressive in person. Rumor had it, Roman Abramovich, the owner of Eclipse, hired Red Hot Chilli Peppers ($5Million) for a New Year's Eve celebration private concert for him and his cronies for whom he rented villas on Saint Barts.
He sure is a successful businessman for a guy who started his life by selling "rubber ducks"... I'm not kidding.. But that's what happens when you are close to political leaders and a very good personal friend of Putin himself. Vouching for Putin at the right time in his life has paid off big dividends...
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Nice investment that has been. Looks as if the only boats that depreciate are the cheap boats.
Once you have the money, there are many ways to make lots more.
Buy an ultra expensive yatch, use it for a few years and sell it for a multiple of what you paid. (Cheap boats don’t apply).
Or buy a limited edition super car, pay a few million up front. Enjoy them for a few years and then sell them and make a nice profit.
Not always as clear cut with real estate, but probably the same in today’s environment.
Above a certain level, you are breathing rarified air.
Once you have the money, there are many ways to make lots more.
Buy an ultra expensive yatch, use it for a few years and sell it for a multiple of what you paid. (Cheap boats don’t apply).
Or buy a limited edition super car, pay a few million up front. Enjoy them for a few years and then sell them and make a nice profit.
Not always as clear cut with real estate, but probably the same in today’s environment.
Above a certain level, you are breathing rarified air.
TheOctopus
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- Apr 4, 2013
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- 1,622
The "everything bubble" going on right now will of course go "pop" one day and many will cry but in the mean time, enjoy the party.
A Patek Phillipe watch that was selling at $20k (5711/1A) on a good day (some years back), is now a $120k+ watch just because it was "discontinued".
Listing a house in Austin for $800k and getting offers for $1,200,000 or 50% more than the asking price which is already a bit inflated, is well... a fantastic way to be upside down when the "boom" is no more. People are desperate to grab a house at any cost in some markets. Builders are cancelling contracts and raising prices before the houses are even finished because the market keeps climbing... Ridiculous.
A Patek Phillipe watch that was selling at $20k (5711/1A) on a good day (some years back), is now a $120k+ watch just because it was "discontinued".
Listing a house in Austin for $800k and getting offers for $1,200,000 or 50% more than the asking price which is already a bit inflated, is well... a fantastic way to be upside down when the "boom" is no more. People are desperate to grab a house at any cost in some markets. Builders are cancelling contracts and raising prices before the houses are even finished because the market keeps climbing... Ridiculous.
When it can no longer be placed on another yacht.