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Thinking of Purchasing a Private Jet?

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If you travel often for work, covet the freedom to come and go as you please, and have the financial means to make a large investment, you might consider buying a private jet. Private jets can be a prudent investment for some, but before you fully commit yourself to a purchase, there are two important questions to consider.

  • Is a personal jet worth it for you?

Full ownership of a jet isn’t typically cost efficient for individuals who log less than 100 hours per year. This will also depend on the distances you travel. If you travel less often but would really benefit from the flexibility of being able to take off at a moment’s notice, a personal jet may still be a smart investment. If you plan on re-selling the aircraft, remember that similar to new cars, jets take a steep depreciation hit during the first few years.

  • Can you cover the costs?

Obviously, the cost of purchasing a jet will vary greatly depending on the year, model, and custom features available. For example, a 1979 Falcon 10 with less than 15,000 hours logged will set you back around $400k. But a shiny, new Gulfstream 550 will likely cost $50 million or more. When you consider the finances, don’t forget to factor in crew salaries, insurance, routine maintenance, fuel, airport landing charges, and hangar fees.

Although envisioning yourself reclining in your very own private jet may be intoxicating, you have to consider the possibility that a personal jet is more of a want than a need. But if you have carefully considered the long-term financing and suitability of the purchase, there’s nothing stopping you from making your vision a reality.

For more on private jets:

30 Amazing Facts about Private Jets

The Tale about Skorpios Island

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Nothing says luxury like your own private island. The man-made islands in Dubai’s exclusive Palm Islands and World Islands developments are all well and good, but owning an artificial island doesn’t quite satisfy that primal fantasy of owning a real island.

One of the most well-known private islands in the world is Skorpios Island, which was famously transformed from a desert isle to a luxurious retreat by shipping magnate Aristotle Onassis.  Skorpios is located in the Ionian Sea off of the western side of Greece. According to the Greek media, the current estimated value of the island is at least $100 million.

Onassis bought Skorpios in 1963, and by 1968 it was ready to host his wedding to Jacqueline Kennedy. His transformation of the island required planting 200 species of trees to provide shade and color, as well as bringing sand from the nearby island of Salamis to expand Skorpio’s beaches.

After Onassis died in 1975, the island passed first to his daughter and then to his granddaughter. Onassis’ granddaughter, Athena Onassis Roussel, recently sold the island to a Russian heiress named Ekaterina Rybolovleva. The Russian plans to use the island for leisure, but also for business. It is strange to see the island leave the Onassis family after they invested so much time and emotion in it. After all, Alexander, Christina, and Aristotle Onassis are all buried in the island graveyard. But with changing times come other changes, including the end of dynasties. If nothing else it gives us hope that our own dream of a luxury island might still be attainable.

Vera Wang Cancels Shangai Fitting Fee Policy

Earlier this year, Vera Wang‘s brand surprised their potential Chinese customers with a controversial decision: they were to charge $500 fitting fees in their Shangai salon. So far, the salon is only available to private VIP appointments.

veraVera Wang lavish wedding gowns, prices of which are measured in thousands of dollars, have been a long time favourite with the celebrities. The brand easily boasts a worldwide recognition, but this has also provoked some unwanted consequences.

Perhaps the most sought after bridal designer, Vera Wang has often seen her designs copied by others. The brand has stated that $500 fitting fees served as a form of protection – aiming to discourage counterfeiters from trying on gowns just to collect information on the dresses’ design details.

This provoked a wave of criticism, mostly because this policy was introduced only in China. Last week, the news had spread into the global media, and as a result of the public outcry, the brand has announced they will stop charging the controversial fees in their bridal salons worldwide, effectively ending the fee policy on March 27th, 2013, so the copycats now can go on and spend those $500 on freeslotsx.com and try to make their fortune there, where it is actually more more likely to hit the jackpot that by copying styles!

While the cancellation certainly seems like a wise move, it remains to be seen how this will affect the brand’s Shangai business after the salon’s official public opening on April 29th. Hopefully, counterfeits will be dealt with through other channels. In the light of recent events, Alibaba Group, the owner of Taobao (China’s largest online marketplace), have stated that they will work to prevent the sale of counterfeits on their website.

To see which dresses are among the most beautiful bridal gowns in 2013, follow the link.