Wednesday, 18 April 2018

How Much Would You Pay For One Of These,

a slow, expensive to run golf cart?

 a few hundred pounds perhaps, may be a thousand or so if new,

but here is the thing, in this picture here and now you are looking at £700,000 worth, yes the 4 of them are worth one million dollars! but wait a second before you rush out to sell one there are a few things you should know, Anjali Cordeiro of Bloomberg has the story:

On the two-lane streets of Discovery Bay — a residential development about a 30-minute ferry ride from downtown Hong Kong — the golf carts are both the transportation of choice and an investment play for the wealthy. The buggies can sell for more than HK$2 million ($255,000) in the upscale neighborhood that’s home to airline pilots, bankers and lawyers. Business executives drive them, expatriates love them and nannies ferry kids to school in them. Private passenger cars aren’t allowed in this neighborhood, and the Transport Department has capped golf-cart licenses at about 500. The supply crunch has transformed these slow gas-guzzlers into luxury transportation. Some buyers view them as investments — renting them out or reselling to make money.

so it is the licence that is worth the money, not the carts themselves, but I wonder if you could find another estate in a similar situation, think of the money you could make selling secondhand golf carts and licences before anyone else thought of it!

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