You Don't Have to Be Crazy Rich to Own a Submarine

Or at least a share of one
By Kate Seamons,  Newser Staff
Posted Sep 24, 2022 5:00 PM CDT
You Don't Have to Be Crazy Rich to Own a Submarine
A manned submersible explores the seabed in this file photo.   (AP Photo/David Keyton, File)

Submarines have been around for roughly 400 years, but it's only in the last few that the rich have thought about owning one, as they might a plane or yacht. In fact, "everyone with a yacht over 150 feet is at least considering one" these days, Erik Hasselman of U-Boat Worx tells Kevin Koenig for the New York Times. That company is one of a few that manufacture submersibles that can be purchased by the well-heeled and curious. In addition to models in the $2.5 million to $3.5 million range that come with two weeks of training, it now has a cheaper model that clocks in at around $600,000, as well as a program that divides ownership of one sub into shares that start at about $80,000. As Koenig quips, "submarine ownership can now be enjoyed by a particularly successful orthodontist."

As for the appeal, Carl Allen, who owns a sub made by the rival Triton Submarines and is an experienced diver, says, "You don't need tanks anymore to see all the stuff that’s down there. You have a cocktail and put on your music and go down ... and have a blast." Or champagne. The Red Bulletin reports U-Boat Worx is developing a high-end Nexus submarine whose buyers can opt for built-in wine coolers and luxury seating for up to nine people, who can spend as many as 18 hours underwater (prices start at $5.5 million). As for safety, Hasselman says the company has logged 3,700 dives "without incident." Koenig, for his part, took solace in the fact that the hefty waiver he had to sign before boarding was devoted in large part to "slipping and falling when walking along the dock toward the sub." (Read the full Times piece here.)

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