Big boats: Offshore finance | The Economist.
This article in The Economist points out the almost sorry state of the superyacht category. only 173 sold last year, down 27 from the year before. This is unfortunate for the makers of superyachts and it is a sign of the times.
More notably, however, is the fact that Roman Abromovich has been reduced to renting out his $660 million boat (including crew of 75) to members of the lumpen proletariat for around $2 million/week.
The article also points out that some superyacht owners send their captains to Tunisia to fill up on cheap gas — the Paul-Allen-Money* equivalent of going to Buffalo to buy gas.
* If you don’t know the expression “Paul Allen Money,” I’m afraid you will have to go to the linked article to find out.
Filed under: Uncategorized, bad design, behavioral economics, branding, Laurence Bernstein, luxury, luxury marketing, protean strategies
