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Insane reason why US millionaire is selling 174ft superyacht worth $38,000,000 despite never stepping foot on it

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Published 16:30 14 Nov 2024 GMT

Insane reason why US millionaire is selling 174ft superyacht worth $38,000,000 despite never stepping foot on it

This 'small' complaint is enough to get rid of this superyacht

Harry Boulton

Harry Boulton

While we've all regretted buying something we'll struggle to return, it doesn't even begin to compare to this US millionaire, who wants to sell his 174ft superyacht that he's never even set foot upon.

Sometimes things you don't use can go up in value, as is the case with any unopened old games consoles or Blu-Rays, and if you're lucky enough to invest in the right cryptocurrencies like Bitcoin or Dogecoin you could see a massive return on investment.

Yachts - especially those of the 'super' variety - are notorious for their depreciating value though, as they not only lose you money as they age but they also cost an arm and a leg to keep up and running.

One US millionaire has unfortunately found this out the hard way, as his recently purchased superyacht is back on the market for a reason you might not expect.

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Five Oceans by Allen in action (Damen Yachting)
Five Oceans by Allen in action (Damen Yachting)

Tommy Allen, founder and Director of Global Operations at Five Oceans Global Solutions, paid a staggering $38 million for a 174ft superyacht lovingly named 'Five Oceans by Allen' from Damen Yachting.

While the vessel was initially designed for a three-year ocean-bound research mission, Allen has since decided to ditch it, claiming that it's too cramped for him and his family.

It's now back up on the market for $36 million - $2 million less than he initially paid, despite never embarking on its first expedition.

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What's worse is that the yacht was custom built and tailored to Allen's own preferences, so you wonder how it ended up being on the smaller side of things.

It's certainly not all doom and gloom for Allen and Five Oceans though, as he's commissioned a larger replacement to be made by Damen Yachting.

This new superyacht boasts a length of 197ft, and increases the volume by 2.5 times - hopefully that'll be enough space for his family to feel comfortable.

The original Five Oceans yacht might be stationary for a while now (Damen Yachting)
The original Five Oceans yacht might be stationary for a while now (Damen Yachting)

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While you might rightfully think that $2 million is a lot of money to lose over something you never even touched, some argue that this is a worthwhile drop of cash if it results in the right outcome.

The company prides itself on its exploration efforts, and pays close attention to the environmental impact of these yachts too through a 70% reduction of harmful emissions for full-range operations.

While Allen might not be quite on the level as the world's richest individuals, who recently increased their wealth by over $60bn, he must still be pretty comfortable to feel alright losing 'just' $2 million.

Featured Image Credit: 5 Oceans Global Solutions
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