They are the same place that the managers’ yachts are. On sale!
Telegraph via WSJ: An article in the Telegraph tells the story of a boat named Alibella. The 164-foot ship was previously priced at 34 million euros. It’s just been reduced to 24.5 million euros — provided that the buyer can close the deal in 30 days. For coupon-clippers out there, that’s a savings of 9.5 million euros!
What do you get? Four floors of gold leaf finishes, marble floors, a helicopter landing pad and loads of flash and bling. It’s also nearly new, having just been launched in May.
William Christie, a yacht broker at Edmiston London who sent an email to clients about the price drop, says it represents “a great opportunity” for those with money.
Mmmmhmmm, I bet bosses who have to lay off their employees tell them it represents a great opportunity to have some free time!
“There are still a lot of people who are extremely rich and still want to go yachting,” he says. “It’s still the best way to enjoy time away from the office and relax.”
No clue that yachting was a verb…
So why the price drop? According to the experts at Megayacht News, Alibella’s owner is Japanese. The broker for the yacht is Burgess, and a spokeswoman says the price drop was a creative marketing strategy rather than a dash for cash. If the boat doesn’t sell at the new price in 30 days, it will go back to the original price, she said.
“It was a way to generate interest,” she says. “It’s not a distressed sale.”
OK, so Alibella’s owner isn’t strapped for cash. But some other big-boat sellers may be soon. According to Mr. Christie, there are now 40 top-condition boats over 50 meters that are now on the market, with several seeing big price drops. The Russians and Saudis have been the saviors of the yacht market in recent months, but with oil falling and the Russians getting margin calls, new buyers may be scarce.
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