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.
Fire engulfs luxury yacht in British Virgin Islands harbour
— Алла Рябова (@searcheryacht) April 11, 2016
Fire engulfs ...https://t.co/nKqa1l6Rfo pic.twitter.com/5U3d5zzYPG
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.
Owner gets $20 million in insurance after 170-foot yacht, Barbie, destroyed in fire https://t.co/S0N8vIYQ1O pic.twitter.com/9qrFjnOXiV
— TradeOnlyToday (@TradeOnlyToday) March 21, 2016
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.