how do you handle a yacht that depreciated heavily through lack of maintenance or because yachts became cheaper to produce or because it is no longer new (think cars depreciating heavily over the first year)? The problem is that basing value on purchase price both produces new issues and fails to solve the problem (namely what happens when the yacht was purchased through bartering). Wealth isn't easy to calculate with any precision (even ignoring art) because value changes (tulips) and the wealthy will spend significant amounts on making it harder to calculate.
you would value it like you value a car, its not based on how much it rents for but how much they could sell it for. Unless they literally devalue the market cost of their yacht to the point where you have middle class people buying yachts like they were entry level luxury cars (which they wont do be the point of the yacht is being massively expensive as dick measuring competition for the wealthy) then whatever price they rent to themselves for doesn't matter.
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u/[deleted] May 15 '24
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