Thursday, June 23, 2011

Madoff yacht 'Bull' slugged by bear boat market


Bernie Madoff's turbocharged yacht, one of the fastest on the French Riviera, is in the discount rack at 50 percent off its original asking price -- but even at that price, hedge-fund bargain hunters are showing little interest.

It's not because they can't afford the $11,000 it takes just to fill the diesel tank on the 88½-ft. custom-made yacht, named "Bull," or pay $250,000-plus a year for the captain and his two crewmen to keep it seaworthy. Apparently the boat -- the last luxury toy left from Madoff's swindler paradise -- doesn't have enough cachet to lure a buyer since it was seized nearly three years ago by authorities.

After eight months on the market, Bernie Madoff’s 88 1/2-foot custom-built yacht, “Bull,” has seen its initial price tag cut in half, to $4.3M, as it sits in Monaco harbor…..

Read more: http://www.nypost.com/p/news/business/madoff_yacht_bull_hit_by_bear_boat_neSK6cTEWJNUq5bRAYG2AJ#ixzz1Q6XvKmd8

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