Does Tiger Woods Constitute Provenance?
Word on the docks is that Tiger Woods is looking to unload his 155-foot Christensen named, ironically, Privacy. The Palm Beach Post has reported that the golfer is searching out a broker for the deal after his ex-wife Elin decided that the reported $2 million dollars of upkeep per year was not worth the price tag and turned ownership of the yacht down.
Problem is, Tiger allegedly wants $25 million for the yacht—which he purchased in 2004 for $20 million—but it's probably only worth about $15 million. And here comes the question of "provenance," a term most often found in the art and real estate world, but which can also apply to boats. Is the fact that the world's most celebrated golfer used to own a yacht worth a ten million dollar premium? It wouldn't be worth it for me (could I even sniff those prices). Would it be for you?