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Not sure about worth, they cost more.
by cuboidGoat 8y ago
Not sure about worth, they cost more.
- craftyguy 8y agoGenerally if something costs more (and have been sold at said cost), it's because someone thinks it is worth that much.
- Retric 8y agoAt the time of sale sure, but try selling your five year old car for original sticker price.
- SmellyGeekBoy 8y agoIf it's something like a Bugatti Veyron, sure, why not? Surely these superyachts fall into that category?
- Retric 8y agoOnly if their is something specific about it that makes them noteworthy. Generally people are buying yachts to be used and they really do age. PS: You can buy a used Bugatti Veyron for below initial sticker price even ignoring inflation. https://www.dupontregistry.com/autos/listing/2006/bugatti/veyron/1884409 https://www.dupontregistry.com/autos/listing/2006/bugatti/ve...
- cuboidGoat 8y agoYachts are a hole in the water into which you pour money. They are fun, but the sea doesn't care about your wish for an asset.
- cylinder 8y agoActually it's worth. Cost is different to value. Cost relates to expenses. Buying an asset is not an expense, while the ongoing maintenance and depreciation of it would be considered an expense.
- Retric 8y agoYachts depreciation is huge as people who could pay that much don’t tend to buy used without heavy discounts. So, he was right cost new says little about current value. Worse for the manufacturer, it’s unlikely for anyone to want the same design without heavy modifications should the original buyer become insolvent.
- stephengillie 8y agoCost is the amount of money originally paid for the item, or the amount to replace. Value is an expression of utility. Many expensive things have average utility, and so aren't worth their price.