Crazy Eric Schmidt, His Yacht Prices Are Insaaane!

theodp writes "After languishing on the market, the price of Google Executive Chairman Eric Schmidt's Lone Ranger expedition yacht was cut from $20,000,000 to a mere $14,000,000 (sales brochure). Still no takers for the vessel, so the former pride of the Schmidt Ocean Institute — which can travel an amazing 31,000 miles at 12 knots thanks to a fuel capacity of 1.3 million liters — will be auctioned "as is" on April 20th at the Antibes Yacht Show, with bid estimates ranging from EUR 3 million to EUR 10 million (auction brochure). 'Lone Ranger and her truly astonishing story will appeal to a new generation of luxury yacht owner,' the sales brochure notes. 'The yacht epitomizes low key luxury, but most importantly offers the ideal platform for anyone wanting to explore the farthest flung corners of the world with their family.' And you can buy it just in time for Earth Day gift giving!"

Comments

Probably Bought with Laundered Tax Free Income

[Anonymous Coward]

Oh look, it says "George Town, Cayman Islands" beneath the name on the ship ... and the brochure says "NOT FOR SALE OR CHARTER TO U.S. RESIDENTS WHILE IN U.S. WATERS."

Taxes are such a bitch, aren't they Eric?

Re:Probably Bought with Laundered Tax Free Income

[deadweight]

and the brochure says "NOT FOR SALE OR CHARTER TO U.S. RESIDENTS WHILE IN U.S. WATERS." That has been standard in boat ads for decades and yes, it has to do with taxes paid to register the boat. BTW, the secandary market for these boats can be rough. Once you pass a few million, you can afford your own new custom design.

Re:Probably Bought with Laundered Tax Free Income

[alexander_686]

Boeing does the same thing – It sells all of its aircraft while flying in international waters – that way customers don’t have to pay sales tax. (Not exactly the same thing as registration fees, but in the same area.)

Re:Probably Bought with Laundered Tax Free Income

[afidel]

I don't think Boing sells their aircraft flying in international waters, over internal waters or in international airspace maybe.

Re:Probably Bought with Laundered Tax Free Income

[Anonymous Coward]

Are you saying that when a Boeing aircraft is actually sold, the buyers and the sales team get onboard, they take off, fly out over the nearest ocean, and sign the bill of sale while IN FLIGHT? That's crazy amusing.

That is absolutely correct, at least for USA based airline customers. The actual transfer of ownership occurs inflight in international airspace and as an added bonus the first point of landing is in Oregon to avoid state sales taxes---or at least it was a few years ago when I was aboard one such flight.

(I am a commercial airline pilot for a major US airline and thus the AC.)

Yacht?

[Tailhook]

That's a yacht? Looks like a commercial fishing vessel or a coast guard cutter.

I suppose if you need to intercept drug smugglers or rescue someone it might be the thing... but most yacht buyers are looking for a nice place to drape their naked women.

The two best days of boat ownership.

[Anonymous Coward]

The day you buy it and the day you sell it.

Re:ugly

[fuzzyfuzzyfungus]

A dump truck would actually offer a lot of room to work with...

Ugly, sure; but you'd have a passenger compartment larger than some New York apartments to add ostentatious touches to.

First rule of wealth management:

[pr0t0]

If it flies, floats, or fornicates; rent it.

The two happiest days in a boat owner's life

[stevegee58]

1) The day he buys it.
2) The day he sells it.

Holy Mixed Unit Systems Batman!

[mooingyak]

$20,000,000 to a mere $14,000,000

presumably that's USD. Also all digits and no words (as in 14,000,000 rather than 14 million)

with bid estimates ranging from EUR 3 million to EUR 10 million

and not knowing the exchange rate off the top of my head, I couldn't tell you how far off $14M USD is from 10M EUR. And the numbers are the opposite of above, spelling out 'million' rather than using digits.

And then there's this gem:

which can travel an amazing 31,000 miles at 12 knots thanks to a fuel capacity of 1.3 million liters

so, distance is in miles (imperial), speed is knots (nautical miles rather than miles) and then capacity is liters (metric)

Pick a style, pick a system, and STICK WITH IT.