Tuesday, January 26, 2010
Want To Buy A Yacht?
Guess whose yacht shows up for sale half way around the world in Turkey? According to Moran Yacht & Ship, the Obsidian, a luxury yacht owned by accused Ponzi scheme operator Timothy Durham, is being offered for sale in Bodrum, Turkey for $3,400,000 in Euros. That converts to about $4.78 million in U.S. dollars. According to a CNBC insider story on Durham a few years ago, the yacht sells for between $6-$7 million. CNBC said Durham spent about $5,000 a month to dock his yacht in Miami and stayed on the boat about four times a year. As an IBJ online story notes, it's not clear whether Durham still owns the yacht or recently sold it to someone else who is offering it for sale.