I found this WSJ article interesting. It highlights what some call a growing trend where buyers acquire multi-million dollar yachts for the purpose of reselling them for a profit, often a huge one if reports are to be believed. Here’s what WSJ’s Robert Frank had to say about it:
Rich Buyers Sell Unfinished Boats, Reaping Millions in Profits
Terry Taylor, a Florida car dealer, has purchased five yachts since 2001. But don’t expect to see him anchoring off the coast of Cannes this week. Mr. Taylor is boatless, having sold all of his yachts to other buyers for huge profits.
“I wouldn’t feel too bad for Terry,” jokes Felix Sabates, a partner in Trinity Yachts of Gulfport, Miss., which built Mr. Taylor’s boats. “He’s probably made more money off those boats than we did.”
Mr. Taylor is part of a new breed of wealthy boat buyers: yacht flippers, who sell their costly purchases often without taking them on a single cruise. … more
I dabbled in the practice a few years ago and, while I made a little money, it wasn’t enough to make me want to press my luck. I’ve always been somewhat of a risk taker, but these days some things are just too rich for my blood.