Ex Citigroup CEO Selling Yacht for $69.5M

The Sandy Weill sell-off continues
By Rob Quinn,  Newser Staff
Posted Dec 23, 2011 4:21 AM CST
Ex Citigroup Sandy Weill Selling Yacht 'April Fool'
The 200-foot April Fool boasts a Jacuzzi, a huge master stateroom, and an elevator.   (Feadship)

(Newser) – After selling his Manhattan penthouse to a 22-year-old Russian heiress for $88 million, former Citigroup chief Sandy Weill is trying to offload his yacht as well. The 200-foot super yacht April Fool, which Weill rarely used in the five years since he bought it new, is being offered for a mere $69.5 million, the Wall Street Journal reports. People in the super yacht trade, however, say Weill is likely to find his boat harder to sell than his Manhattan pad.

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"The market’s tough,” says the chief executive of the yacht broker that is trying to find a buyer. “There just aren’t a lot of people around who are looking to spend money on large super yachts. There are plenty of people looking for a bargain, but not a lot of people willing to pay full price." Weill plans to give his penthouse money to charity, and he recently bought an estate and vineyard in California for $31 million, so it looks like he can afford to wait a while for the right buyer. (Read more Citigroup stories.)

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