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The Trophy Home Has a Carry, and the Carry Is the PointA great house is the most illiquid thing most wealthy families own. Transfer taxes, upkeep and a thin buyer pool decide what it is really worth.
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.find out more on: Charlie Rose