$10 Million Yacht Goes Down on First Voyage

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A $10 million, 90-foot yacht was being launched in Washington state when it suddenly capsized.

The yacht, named Baden (pictured), had already been lowered into the water in Anacortes, Wash., when it slowly tilted and then sank, according to media reports.

The cause of last month’s accident is under investigation, but New World Yacht Builders, which built the yacht under the Northern Marine brand, said the problem appeared to be in the launch apparatus, not with the boat.

“The physical evidence on, and adjacent to, the launch ramp suggests that the dolly carrying the weight of the port stern of the yacht may have suddenly dropped off the edge of the boat ramp during the launch, causing the vessel to experience a sudden list to port, from which it could not recover in its light condition for launch,” Northern Marine said in a press release.

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SOURCE: CNBC.com

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