Billionaire Emilio Azcarraga Jean Is Having Trouble Selling His Yacht, Lowers Price By $42 Million

By on August 16, 2016 in ArticlesBillionaire News

If you've been looking for an opportunity to save some money on a lavish yacht purchase, good news: Mexican TV billionaire Emilio Azcarraga Jean has evidently been having some trouble selling his, since according to a recent story he's reduced his asking price from about $144 million to $102 million.

The yacht is named after the place where Azcarraga made his bones: TV. It was custom-built for Azcarraga and he paid a reported $78.4 million for it, back in 2012, and no one seems to know exactly why the famously yacht-loving billionaire is getting rid of his pride and joy. TV can accommodate up to 18 guests in its ten cabins (eight full-size and two twins), not to mention room for as many as 28 crew members.

In case you're still on the fence about coughing up more than $100 million for a pre-owned yacht, you may be swayed by TV's on-board elevator, or its built-in "health, beauty, and sports center." It also boasts a naval-inspired exterior design from architect Espen Oeino, while its stylish interior was handled by yacht designer Alberto Pinto. With a pedigree like that, you may be wondering why Azcarraga has had to drop his asking price, but the reason has to do with the fact that custom-built mega yachts like this one don't exactly have a Kelley Blue Book for pricing. A yacht expert speaking with Forbes on condition of anonymity put it pretty concisely:

"They were asking too much. But as all these yachts are custom built, there is not really a 'market price' for these kind of yachts."

Despite the attention-getting price reduction, the people at Moran Yacht & Ship, who are handling the sale as well as having handled its original commission and construction, seem optimistic about it making a good buy for some lucky yachtsman out there. One of those people, Sean Moran, is also making it clear that TV doesn't necessarily have to be as expensive as it looks:

"Based on its charter history, an owner could offset a large amount of the running costs through charter should it be desired, but owning a yacht like this has to be for the passion – for the joy of ownership. When owners look at the investment, what it takes to build and what's on the market, I think they'll see that there's excellent value here."

In any case, if you're the type to drop nine figures on a yacht, TV is just the kind of yacht to drop it on. Or, if you're a more frugal sort, you can hold out and hope for another price drop in the near future.


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