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Some yachts are used exclusively by their private owners, others are operated all year round as charter businesses, and a large number are privately owned but available for charter part-time. As of 2018, superyacht charter costs were € 70–550 thousand per week. [30]
Octopus is a 126-metre (413 ft) megayacht built for Microsoft co-founder Paul Allen.She is one of the world's largest yachts. Launched in 2003 at a cost of $200 million, [1] Octopus is a private vessel that has been loaned out for exploration projects, scientific research and rescue missions.
[3] [4] [5] It is a three-masted sailing yacht 127 meters (417 ft) long with a navy blue hull. The superyacht is reported to have cost $500 million or more with an additional annual maintenance cost of at least $30 million.
The most expensive yachts cost hundreds of millions of dollars and can sail the globe, docking at some of the world’s greatest playgrounds for the rich — places such as the French Riviera, the ...
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Under Italian law, the owner is responsible for the cost of salvage and the yacht would then be handed to the investigating authorities. [50] The recovery cost will be covered by insurance while total claims related to the shipwreck could reach $150m, according to initial estimates by industry experts. [51]
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