Report: Tiger selling yacht for $25M
PALM BEACH, Fla.
Troubled golfer Tiger Woods' 155-foot mega yacht "Privacy" is up for sale for $25 million, The Palm Beach Post reported Tuesday, citing a source.
Woods reportedly paid $20 million for the yacht as a wedding present to his ex-wife Elin Nordegren in 2004, but the Swedish model gave it back to the former world No. 1 during the divorce settlement last year because she did not want to pay for the upkeep, which is estimated at more than $2 million a year.
"Privacy" is currently docked at North Palm Beach, and local mega-yacht builder John Staluppi believes Woods' asking price is too high.
"The market on big yachts has gone down," said Staluppi. "Banks aren't financing and the economy is off. It's a buyer's market.
"Unless he sells to someone who wants to brag that he's got Tiger's yacht, he'll get about $20 million."
Woods recently bought a 62-foot diving boat, "Solitude," for $3.1 million.