Apparently a whole lot of wealthy individuals bought super expensive yachts just before the financial crisis began, and because they take two or so years to build, they keep their old one until their new one is ready.That method is typically hassle-free, according to the New York Times.
Except now, because of the crisis, sellers are finding no-one will buy their yachts – when back in the day, it was only a matter of time before you put your boat on the market, and someone snapped it up.
Hedge fund manager Peter Hochfelder, the founder of $3 billion AUM Brahman Capital Management, is in this predicament.
Check out photos of his two amazing yachts no one wants here >
Hochfelder already owned a yacht, a 134-foot Lürssen, built back in 1995.
The interior of the yacht, called Blind Date, was designed by a renowned interior designer, and Hochfelder even described it as “sexy, cosy and soothing.”
Of that boat, he also once said:
I once ran into [Microsoft co-founder] Paul Allen, who owns the 413-foot motoryacht Octopus. I told him, ‘We have a lot in common. You own the largest Lurssen, and I own the smallest.’
Hochfelder ordered a new yacht in 2007 – a 161-foot Trinity – that builders completed two years later. But no-one will buy the old sailboat. And according to the Times, Hochfelder pays about $4 million a year to run his two boats.
So now he’s putting both yachts – both named Blind Date (because that’s how he and his wife met) on the market, hoping and praying that at least one of them will be bought.
The older one has a $9.5 million pricetag; the brand new Trinity will set back the purchaser $33 million.
And if you’re not in the buyer’s market, the yachts can also be chartered.
This is the yacht's main living area - the interior was decorated by renowned designer Patrick Knowles
And for those who aren't looking to buy, but still want to cruise around the Med come Summer, the yachts are available for charter
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