High Value and Luxury Assets
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STUCK BETWEEN A YACHT AND A HARD PLACE? Navigating the risks of buying a yacht Cruising around the South of France for weeks basking in the glorious Mediterranean sunshine, sailing past Cannes and Monte Carlo in a beautiful yacht nestled on the azure waters while the gentle waves rock you slowly into a deep sleep. Sounds like a dream but taking it beyond the realms of your imagination is easier than you think. Saracens offers straightforward advice on what to do when buying a yacht.Read more
For asset-rich but cash-strapped individuals, luxury asset lending is growing. Whether the collateral is a watch, yacht, fine art, a luxury handbag, or classic car, many high-net-worth individuals are using luxury assets as security. Luxury asset lending is not a new phenomenon – in fact, much has been written about the intertwined history of banking and Renaissance art. Some of the greatest patrons of art, the Medici family, were among the architects of the modern economy. Later, the Dutch Golden Age saw Rembrandt and Jan Leivens pledging their stunning artworks as collateral to Herman Becker, a Baltic merchant and one of the first people in history to lend against fine […]Read more
Someone once quipped that buying a boat is the equivalent of standing in a shower, ripping up hundred-pound notes. The witty remark was, of course, referring to a small jet boat – anyone who has ever owned a yacht knows that in all likelihood a zero (or three) ought to be added to the notes referred to in the gag. There is no doubt that buying and owning a yacht involves a significant capital injection. However, there are ways you can operate your yacht as a business, enabling you to plan for tax and minimise legal wrangling with foreign jurisdictions. One of the ways a yacht can be turned into […]Read more