Crazy Eric Schmidt, His Yacht Prices Are Insaaane! 179
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!"
Jealousy issue? (Score:2, Informative)
People like to gripe about what "rich people" buy with their cash. But why not spen it on toys if you can afford it? Unless the current Group Think is that Rich People should give away all their money a la Bill Gates?
Jealousy issue?
Myth (Score:2, Informative)
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.
This is a myth. Large companies like Boeing (and Airbus with its new plant under construction in Mobile, AL) get sales tax abatements from local governments in exchange for and agreeing to continue to build aircraft in the area.
Re:Probably Bought with Laundered Tax Free Income (Score:5, Informative)
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.)
Re:Holy Mixed Unit Systems Batman! (Score:2, Informative)
the exchange is around 1 EUR = 1.3 USD so they are about 1 million USD apart.
Re:Myth (Score:4, Informative)
I'm not an AC. Seattle Times had that story a few years ago. Seems to be true, they fly off the coast for some (all?) contract signings.