Nice yacht up for auction in Gibraltar with no reserve

[westernman]

However, that fuel tanks are on the low side as the boat has just crossed the atlantic. Even with the cheap fuel prices in Gibraltar, I am not sure I could fill it up.

Seized Russian Superyacht Goes Up for Auction, Without Reserve

Any one on here going to place a bid???

 

[Concerto]

I will start the bidding at £50. Anyone want to out bid me?

 

[Sandy]

It would never fit on my trott mooring. I'll give it a miss.

 

[Mistroma]

I will start the bidding at £50. Anyone want to out bid me?

Keep some money back as annual running costs will probably be around £8M. You probably want to spend extra on pretty good security and keep away from remote bays. A visit from some spetsnaz types might be on the cards at some future date.

 

[[2574]]

However, that fuel tanks are on the low side as the boat has just crossed the atlantic. Even with the cheap fuel prices in Gibraltar, I am not sure I could fill it up.

Seized Russian Superyacht Goes Up for Auction, Without Reserve

Any one on here going to place a bid???

Don’t like the colour!

 

[Adios]

"Before you think it was smart that JPMorgan added a sanctions clause into the loan agreement, it’s standard for all loans. Check the fine print in your car loan or mortgage and you’ll see it."

So we're all taking out mortgages with clauses where anyone can, given a sudden change in politics, be arbitrarily put on a list and the banks can steal our houses? Here are some sanction clause examples Sanctions Sample Clauses: 7k Samples | Law Insider all of them refer to the purpose of the loan at the time it was taken out. Most of them are very explicit about that eg: "Directly or, knowingly indirectly, use the proceeds of any Borrowing, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with any individual or entity that at the time of such funding is the subject of Sanctions, ..." and "The Borrower will not directly or indirectly use the proceeds of the Loans (a) to fund activities (i) in any Sanctioned Country or Territory, or (ii) of any Person that, at the time of such funding, is the subject of Sanctions unless, ..."

I'm not buying that this is ok because we have all agreed in advance to it and that its legally without question. Its more that as the article says they have made it impossible for him to make loan repayments which hardly seems fair and they have no court to take the case to. This stinks more like the banks and our governments are riding roughshod over the law which doesn't seem something to cheer and I wouldn't buy this boat on principle. First they came for the oligarchs... Among a couple of more mundane reasons not to buy it.

 

[westernman]

First they came for the oligarchs... Among a couple of more mundane reasons not to buy it.

I won't be shedding any tears for russian oligarchs.

 

[Adios]

I won't be shedding any tears for russian oligarchs.

Neither will I but like I say "First they came for the oligarchs..." is this a new paradigm we should welcome?

 

[johnalison]

Don’t like the colour!

Don’t like the name. I shall rename it Flagrante Delicto.

 

[Stemar]

While the winning bidder will get a whale of deal, you have to wonder how safe is it to own a yacht that was seized from a Russian oligarch.

Quite. As a confirmed coward who'd like to continue collecting his pension for a a good while yet, I think I'll give it a miss.

 

[Bilgediver]

Crew of 22? Bit crowded for me. Mind you would love those Cats Purring away down below.

 

[Wansworth]

like bidding on an old westerly 22 that needs work. ………..fro the momment your bid wins your pockets start to empty?

 

[sailaboutvic]

Sealed bid sent , wish me luck .

 

[Daydream believer]

This stinks more like the banks and our governments are riding roughshod over the law which doesn't seem something to cheer and I wouldn't buy this boat on principle. First they came for the oligarchs... Among a couple of more mundane reasons not to buy it.

Looks like Concerto's £50 might be in with a chance then ?
I hope he has the £8M to cover annual running expenses.

 

[Daydream believer]

. This stinks more like the banks and our governments are riding roughshod over the law which doesn't seem something to cheer and I wouldn't buy this boat on principle. First they came for the oligarchs... Among a couple of more mundane reasons not to buy it.

As for "riding roughshod over the law" the forum's rules on political content do not really allow me to comment on that one. Although I cannot avoid pointing to current events, where civillians seem to be getting some "roughshod" treatment, partly supported by oligarchs. But enough said perhaps?

 

[Adios]

Looks like Concerto's £50 might be in with a chance then ?
I hope he has the £8M to cover annual running expenses.

He could run it aground across the river at Hoo and offer it on airBNB

 

[Zing]

However, that fuel tanks are on the low side as the boat has just crossed the atlantic. Even with the cheap fuel prices in Gibraltar, I am not sure I could fill it up.

Seized Russian Superyacht Goes Up for Auction, Without Reserve

Any one on here going to place a bid???

Not me. I am disgusted by the injustice of this. Not that I am a friend of Russia or its oligarchs. They stink, but to copy their mafia style tactics is a double stink.

 

[NealB]

Before bidding, I need a bit more clarity on what's included in the £8m running costs.

 

[Wansworth]

Before bidding, I need a bit more clarity on what's included in the £8m running costs.

If you need to ask you cannot afford it ?

 

[westernman]

Before bidding, I need a bit more clarity on what's included in the £8m running costs.

It probably does not include internet. That apparently can run to 200K per week!!!!