Their “luxe” run out.
A number of luxury superyachts have gone up in flames in recent months, including Positive Energy, a $2.5 million boat that smoldered off the coast of St. Thomas in mid-March, two multimillion-dollar vessels that caught fire in the Abu Dhabi Marina Yacht Club in early March and three that burned in Turkey.
So why are the super-wealthy suddenly so unlucky?
Joe F. Foggia, a yacht salesman at Northrop & Johnson in Fort Lauderdale, Fla., blames poor maintenance.
The larger the yacht, the more equipment and crew is required to maintain it; a 180-foot yacht can rack up $4.75 million in operating costs in a single year.
And cutting corners could spell disaster down the road.
“As wires get older and they chafe on the metal structure, any of that kind of stuff can create a fire,” Foggia said.