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Bernie Madoff's Rybovich Sportfish "Bull"

Discussion in 'General Sportfish Discussion' started by JWY, Dec 9, 2009.

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  1. PropBet

    PropBet Senior Member

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    Would this boat not bring a 'premium' in asking price due to the simple conversation piece she brings with her prior owner? I guess in all cases this would only be for the right buyer who wishes to have the bragging rights, for the lack of a better term. I'd think (again, to the right buyer) that could be worth a hundred or two.
  2. Henning

    Henning Senior Member

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    Here's the long and short of it, It's an old wood sportfish. Old wood sportfish boats in good condition is worth $50-$150k depending on power. The fact that it is a premium boat is why it brought even $700,000 at the auction. How many other old wood sportfish boats of that size are selling for that kind of money? The market is not what it was in '06.
  3. Capt J

    Capt J Senior Member

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    Except Bernie already took that right buyers money!!!!! hehehe.......They say everything is worth what someone is willing to pay for it in a reasonable amount of time. I am sure there is someone out there willing to pay a premium for that boat, but in this market those buyers are fewer and further between. Only time will tell.
  4. bly

    bly New Member

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    See That small piece of varnished mahogany over on the corner of my desk?

    What do you think thousands of certified pieces of bernies custom Rybovich would fetch on the open market. With a brass plaque under the stand. saying> I Got A Piece Of Bernie Madoff< I know it sounds terrible to cut up a rybo? but consider everything?
  5. Henning

    Henning Senior Member

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    Maybe, but I doubt it would work out. It's yesterdays news, another con-man, nothing really to memorialize there. I wonder how much the guys selling chunks off the Berlin Wall ended up making on sales. It will also cost money to piece up the boat and make plaques and such.
  6. C4ENG

    C4ENG Senior Member

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    I would be shocked to find any one willing to pay full price for anything that belonged to Bernie.
    Would not the real bragging rights be "Look what I got for a steal of a deal that was once Maddoff's!"
  7. Seafarer

    Seafarer Senior Member

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    It's only ever a matter of time for these types of things. There's always another villain around the corner, and people have short memories.
  8. saltysenior

    saltysenior Senior Member

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    other than it being a down market for ''collectibles''.......... do you think a farrari fxx or a stradivarius violin would be worth less because madoff owned them ????:cool:
  9. Capt J

    Capt J Senior Member

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    No, but I don't think they'd be worth any more because madoff owned them.
  10. RER

    RER Senior Member

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    Madoff Premium?

    It's a very nice boat, and it is obvious a ton of money was spent on it. But a million $$$ invested over the past five years, well that's the joy of owning that kind of boat. Refit work that goes far beyond the boats value is usually motivated solely by personal preference, not investment. You tend to get back pennies on the dollar. The market will determine what it's worth. And this market is the worst in history. And probably the worst category is the sportfisher. And the worst sportfisher category is the old wood sportfisher. Even if it's a Rybovich.

    I don't see Madoff's ownership bringing one additional dollar to a deal on this boat.
  11. Ormond Bert54

    Ormond Bert54 Senior Member

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    I could see somebody paying $800k and thinking they got a deal ... the Madoff factor is a conversation piece ... nothing more except that you can be absolutely sure the boat was maintained without limitation because Madoff was spending stolen money. Hence the idea that the boat is a good deal at $800k.

    Yes ... the market for luxury is mighty slow ... so it's a GREAT time to buy luxury ... at a deal of course.

    It's a beautiful boat.
  12. ArcanisX

    ArcanisX Senior Member

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    This is a common misconception. While I have no idea how Madoff maintained the boat, just because he was spending ill-gotten money does not necessarily means he was spending it without limitation, properly, or in any other specific fashon.

    Tho, wood boats are nice, and heritage ones doubly so. That dude had style!
  13. JWY

    JWY Senior Member

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    A new twist to the Bull story. Supposedly the Feds have bought Bull back. :confused: I was just at Roscioli and current owner, now ex-owner, and Feds were aboard. Treasury boys warming the engines to take her back to National Liquidators.

    Judy
  14. geriksen

    geriksen Senior Member

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    I wonder if there was a title/documentation problem?
    I am sure there were plenty 'o liens on that one..
  15. SHAZAM

    SHAZAM Senior Member

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    Feds didn't clear all the liens on the vessel and the opportunistic buyer who failed to flip it for a profit found his way out.
  16. Henning

    Henning Senior Member

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    Interesting, wonder how they failed to clear a lien? I'm guessing it was an IRS lien since when you buy from an IRS auction, none of the other liens are cleared either. The IRS always seems to be in discord with everyone else. Normally when bought from a Marshals auction you get clear title.
  17. RER

    RER Senior Member

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    Buyer got the rarest of opportunities... a do-over. I'll bet he couldn't give it back fast enough.
  18. YachtForums

    YachtForums Publisher/Admin

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    At the request of the OP, this thread has been closed and moved to the SF forum. I have also removed the last half-dozen posts. Sorry guys, some subjects are best left to the PM system.
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