Discussion in 'General Yachting Discussion' started by Yacht News, Sep 26, 2011.
Grim Times w/no Privilege
What is going to be the future of this boat?
Wouldn't it be possible for someone to buy it and finish it at another shipyard lets say fincantieri?
Possible but with a liquidation to take place, probably under the control of a court or trustee, more time and the relatively early stage in the building process of the boat, the time and effort may not be worth it. Often boats are finished at other yards when they're being built for an owner and he can recover the boat, get it moved, and pick up where left off. But here you have a mess to unravel and the logistics wouldn't be simple. So it's quite possible for someone to ultimately buy it and finish it elsewhere. Just wouldn't see that happening soon if at all.
As of 12.5.14 the workers have agreed to allow Bank representatives onto the yard and the vessel. The Bankers, should they appear... would inspect the facility and the construction progress to determine the fate of future financing.
But finance who?
All entities responsible for this mess have been dissolved or are in liquidation. Mario la Via [edited comment] who had orchestrated this circus (starting in 1999), has failed to show for re-organizational meetings and has disappeared.
It's a drama that will continue for years to come, as the workers hold to hope and settle that the only job they now have is fighting to memorialize the one they once had.
There is commerce on the Privilege Yard however. The solar panels that cover the roofs of the facility are producing power to the municipal grid.
If you look back at the photo history of the Privilege Yard, you may notice that in all shots, over the years... the parking lot is empty and the yard is still without activity.
Well she is officially for sale at €399 million ($540 million at today's rates).
2014 Privilege Ultra Super Yacht Power Boat For Sale - www.**************
And that's at supposedly 82% complete...
That boat is going to sit a long time I think.
I'm not sure how the whole build timeline works out but I also believe that she isn't 82% complete but if you look at the video I posted earlier, it shows that they are already doing interior finishing. Is this normal? I feel that for the actual installation of furnishings to be done, the yacht would appear to be in a more finished state. I see piping and electrical interior work being carried out in this phase but not laying of the carpet and interior woodwork and such.
They say six months to completion but that would also not start until you had a yard established, a contract, and the boat moved to that yard.
The carpet should be one of if not the last interior furnishing fitted.
It can be a surprise just how much a yard can get done on a 60-70m yacht when push comes to shove and time is short. This is not a yacht in the normally accepted sense, this is a cruise ship albeit a rather fancy looking one off.
It has taken some 6 yrs to get this far so I seriously doubt it will be finished anytime in the next 6 months.
It was out in the elements for a long time so no one knows what the steel work is like under the furnishings that have been fitted, it seems the windows are still missing so a lot of dirt and crud from outside will be floating around in it.
The build finish is one thing , sorting out clear title and arranging to get the build finished is going to be a marathon in itself similar to a session in Congress when an unpopular bill is being forced through.
Hopeless dreaming of big profits in the luxury business. Forward 6 months and the ad will look like this with 1/40th of the pricetag.
2005 Custom Greece Power Boat For Sale - www.**************
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Non sono chiare come rispondere il tuo messaggio privato (sopra). Dispiace
An opportunistic post by the Privilege yard has been removed. For those who have participated in this thread, you have copies in your inbox.
I figured the previous bunch of self promoting crap was yard founded, so well done Carl.
Read the drivel. So proud of themselves. Let's see...total boats built to date. 0. Although they would say 82% of one. And the owner is almost a god from the manlove the poster has for him. Well, if anyone wants to buy 82% of an untested and ridiculously expensive boat they now know where to go.
Guessing the guy posting as "Luxury" was somehow related to. One post reading "Who Are You?"
If they can buy it for 10% of the steel scrap value to date it's a deal otherwise start again somewhere else.
We are witness to a modern Italian tragedy. There has been a long – long line of Royalty, Politicians, Clergy, Business Leaders, and Blue Collars who have fallen victim to this succubus known as P430. Or at least if victims; then victims to that of her Promoter. Our new member “Privilege” or Mr. Meggs, as it were, is no more or less than another casualty to this enduring saga.
This is a South Florida Yacht Broker who’s name some may recognize. Maybe a guy we might enjoy a beer with. However, I suspect his recent drink of choice has been Kool-Aid.
While I have never met the gentlemen; my greeting here is in the counsel to strongly revisit his career path before committing too deeply to Privilege.