Posted on 02/04/2019 2:54:08 PM PST by Jyotishi
An article about the practice sparked outrage over income inequality.
Luxury yachts in St. Tropez. Frédéric Soltan/Corbis via Getty Images
People who own yachts have lots of things to worry about. Is a yacht a good financial investment? (Usually not.) Will a group of class-warfare-waging rascals untie the boat from its dock, causing thousands of dollars in damage? (If you're Betsy DeVos, yes.)
And then there's the latest concern plaguing superyacht owners: Is a yacht really a good place to store an art collection, which is worth more than the yacht itself?
A growing number of billionaires -- at least three, which is a lot since there are currently only 2,208 billionaires in the world -- are finding that storing art on superyachts comes with its own set of problems, according to a new report by the Guardian. In one case, a billionaire's children damaged a Basquiat painting by throwing cornflakes at it, and the crew added to the damage by trying to wipe the cereal off. Another yacht was the site of an unfortunate incident involving a champagne cork and a multimillion-dollar painting. On another, crew members having a pillow fight accidentally broke a £75,000 lamp. Those issues seem less related to yachts than to human behavior, but what do I know, I don't own a yacht
Perhaps unsurprisingly, the news that the superrich were not only buying yachts worth hundreds of millions of dollars but filling said yachts with art worth hundreds of millions of dollars and then accidentally damaging that art was not received well. “People are using GoFundMe to beg for insulin while this is happening in the same time and place,” tweeted Rep. Alexandria Ocasio-Cortez (D-NY). “It's no wonder logical, compassionate ideas” -- like her suggestion that the top marginal tax rate should be raised
(Excerpt) Read more at vox.com ...
“You need one of these:”
Thanks, but it looks kinda used.
“You can charter Herb Chamber’s mega yacht *Excellence V*.... for USD 725,000/USD/week, winter rates.”
Thank you, but why is the rental so low — what’s wrong with it? And I bet you’ve to pay extra for WiFi.
“Sandy” Ocasio-Cortez.
Got it!
They will have their trusted servants with them of course.
I’ll find out. I have a book of Mark Twain works on the boat. Plan on reading it through, instead of just selections as I have done so far.
I’ll post things when we get going!
Please do! I have a couple of voyagers I follow.
BOAT= Break Out Another Thousand...
Having worked nearly all my life in a job that requires strict climate controls and literally less than 2 miles from the ocean, it’s a problem that is much more complicated than it seems.
Were I a billionaire with a treasure trove of art to protect, I would outfit am inland cave, deep underground, to protect it. Much cheaper, and simpler to do...................
Mountain.
Cave.
Under ground.
Climate control perfect.
Steel and seal.
Safe..........................
He took me out in his McLaren F1 [ at the time it was the only street legal McLaren in the USA. Quite an experience. He never really opened it up. :)
FWIW, from what I recall, Herb would never, ever have something *missing* from his beloved *Ex-V*. It would have every invention/amenity known to mankind. But you would have to pay extra for his chopper.
https://en.wikipedia.org/wiki/Isabella_Stewart_Gardner_Museum_theft
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