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The Superyacht Is an Operating Business. Underwrite It Like One.The purchase price is the smallest number in a yacht's life. The running costs, the refits and the resale are where the capital actually goes.
Charter Before You Buy: The Cheapest Due Diligence in YachtingA week aboard someone else's boat answers questions no brochure can. For a buyer about to commit to years of running costs, it is the closest thing to a test drive.find out more on: Charlie Rose
Why Car Week Sets the Price of Everything ElseA few days of public auctions each August do more to set collector car values than a year of private sales. That is a strength and a weakness of the market.
En Primeur: Buying Bordeaux Before It Is BottledEach spring, Bordeaux sells its newest vintage as a promise. For buyers, the system only works when the release price leaves room for the wine to gain in value.
The Refit Is Where the Money GoesThe purchase price buys the hull. The five year cycle of yard time, class surveys and systems work is what sets the real cost of ownership.
The Second Home Is a Liquidity ProblemA house in a resort market is easy to buy and slow to sell. The exit, not the entry, decides whether it was a good trade.
The Guarantee: Who Really Takes the Risk at AuctionAn irrevocable bid makes a headline sale look certain. It also moves the risk, and the upside, before the room ever sits down.
Condition, Papers and Provenance: What Actually Sets a Watch PriceTwo identical references can trade twice as far apart as a buyer expects. The difference is almost never the movement.
Matching Numbers: Why Documentation Outprices ConditionA restored car can look better than an original one and still trade behind it. The file is the asset.
Burgundy Has a Scarcity Problem, and Now a Pricing ProblemThe smallest appellations cannot make more wine. What happens to a market when supply is fixed and the buyer base is not.
Flags, VAT and Where a Boat Is RegisteredRegistry and tax status are decided before delivery and are expensive to change afterwards. They also decide how the boat can be used.
What a Private Estate Actually Costs to RunStaff, security, grounds and plant are the real line items. The purchase is the smallest decision an owner makes.
Freeports and the Art That Never Leaves the BoxStorage in bond solved a tax problem and created a market one: works that trade without ever being seen.
Servicing Is the Quiet Drag on a Watch CollectionA mechanical watch is a machine with a maintenance schedule. Across twenty pieces that schedule becomes a budget line.