"QE2 was devalued because Dubai bought her" - discuss

[Rob Lightbody]

I saw this comment on a carnival cruises discussion forum and I thought it was interesting. They actually used the word Arabs instead of Dubai but that smacked of racism to me so I've chosen to change it.

However... What do you think? did they? I'll share my thoughts later when not typing on my phone!

Note - I've changed the topic title again to more accurately reflect what I meant.

[Rob Lightbody]

Some random thoughts...

If you own something but are visibly incapable of doing anything useful with it, despite trying hard, why would anyone else want it?

If you take something and put it in an inappropriate place, from which it costs a lot of money to move it?  “Location, location, location” is a phrase used to describe property value. 

If you take something classically british, old, full of heritage and subtle nostalgia, and put it somewhere where it is surrounded by brilliant new glitzy and exciting ‘Arabian’ attractions (biggest/most expensive in the world etc) ?   The trouble is that the people who are attracted to a place like that, are probably not into old British heritage (and indeed are often trying to escape from it!)

If you buy something and put it somewhere where people are clearly not interested in it?  Context is everything.

If you buy something then do nothing with it but also do not advertise it for sale? 

If you buy something and then put a veil of secrecy around it with no media coverage, advertising, visibility etc.  The ship is mostly dark at night (compared with the visiting cruise ships and mega yachts).  Not one event happening for over 2 years either in or around the ship.

There is another way in which it has been devalued – and that is by being smothered in a contract of sale that limits what anyone can do with it in the future.  But that is not only their fault.


I believe that QE2, even if not open to the public, could well be worth more if in a more appropriate location where she attracted lots of interest and attention.

[cunardqueen]

If you own something but are visibly incapable of doing anything useful with it, despite trying hard, why would anyone else want it?
 

Because they can make a better job of it, BUT are you willing to save face and allow them to try..

If you take something and put it in an inappropriate place, from which it costs a lot of money to move it?  “Location, location, location” is a phrase used to describe property value. 

Do the homework, and figure out, is the outlay worth it to move the object to a new place

  If you take something classically british, old, full of heritage and subtle nostalgia, and put it somewhere where it is surrounded by brilliant new glitzy and exciting ‘Arabian’ attractions (biggest/most expensive in the world etc) ?   The trouble is that the people who are attracted to a place like that, are probably not into old British heritage (and indeed are often trying to escape from it!)
 

ROLLS ROYCE. the name hasnt changed but compare a Phantom of 56 to the Phantom of today, worlds appart, but still the same name, and Dubai has its fare share of Rolls Royce cars (some even gold plated, yuk!)

  If you buy something and put it somewhere where people are clearly not interested in it?  Context is everything.
 

Then get it moved, to somewhere were people are interested

  If you buy something then do nothing with it but also do not advertise it for sale? 

Then you have too much money

If you buy something and then put a veil of secrecy around it with no media coverage, advertising, visibility etc.  The ship is mostly dark at night (compared with the visiting cruise ships and mega yachts).  Not one event happening for over 2 years either in or around the ship.   

You clearly have too much money

  There is another way in which it has been devalued – and that is by being smothered in a contract of sale that limits what anyone can do with it in the future.  But that is not only their fault 

The buyers had the upper hand and should have dictated more of what they want, The sellers were very good in offering the ship with enough clauses to make any sane person think twice before handing over the money, l think being screwed is the word lm looking for.. Remember that age old saying with Cunard, Book early and save.. My experience Book early and get screwed...

[cunardqueen]

So was QE2 devalued when Dubai bought her?
Or was Cunard just very very lucky the offer came along when it did?
Then again are we talking in £s or was the "brand QE2" devalued
Has Dubai done more harm than good to her, Ok a quick paint job and touch up
But yet we are told they are looking after her, yet it will cost many millions to move her.

Or worse thing of all, is it all just a big cover up, Cunard wanted rid of QE2, they couldnt scrap her that would cost to much of an uproar, so off load her to some foreigners, fiddle the books, The new owners sit on her for 2 years, the worlds economy goes pear shape, the new owners want to off load the ship, they sell her to some junkyard in Alang and well... perhaps l should stop there.... But the outcome of that . Lets ask ourselves is it any easier to bear today than it was 2 years ago...

Rob, what on earth have you started with this subject 

[Rob Lightbody]

I'm not having a go at them or anything, or at Cunard, it was just some random thoughts.  They have looked after her extremely well, and in terms of keeping her safe, and in good condition, the dry-heat of dubai has probably been a better option than anywhere else in the world.

i suppose she could be sitting somewhere cold & wet and visibly rusting and deteriorating and going mouldy inside.

The best thing for her value would be if she had had a proper refit and was stilling sailing, selling the classic porthole liner experience.

[citrail]

The best thing for her value would be if she had had a proper refit and was stilling sailing, selling the classic porthole liner experience.

Sadly Rob, two years on, I think it's that or nothing.

[Twynkle]

It's not a statement that promotes particularly creative thinking, is it?!

Does there need to be any reference to 'Dubai', and what it symbolises?
In one sense, the people who pay the fuel bills and keep her painted
are helping to prevent her value from dropping much further.
Perhaps this couldn't have happened anywhere else - maybe this was behind Cunard's thinking too?!

If QE2 can be found a place somewhere where she can be appreciated (from the world outside) 
and enjoyed as a static passenger ship,
acting as a luxury hotel and historical museum perhaps with even more to offer than the Rotterdam V,
then she definitely has the potential become much more valuable than she is at the moment.
However, as Rob writes - the 'context' is important,
this and the financial means to restore her to a level to which she and we are accustomed - both are crucial to her survival.

It would seem that QE2 is quite capable of working to earn a living for her owners.
In this sense, she is no less valuable, is she?
She'll need a team - with  courage, motivation, the ability to engender optimism and goodwill
together with sound knowledge gained from experience - then she'll be able to earn her living for herself,
and for those who have a genuine interest in keeping her as a going concern.

So, in time - the statement could well turn out to be incorrect!
 

[Chris]

ROLLS ROYCE.

The name has taken a bashing since their engine caused such damage to Qantas' A380.

[Chris]

QE2 was devalued the second she was sold under a contract that forbid her from sailing as a passenger ship.

Her brand was damaged by the sale to Dubai mainly because the rumours about her conversion painted a bleak picture of her being torn apart.

It has since been devalued by her sitting, static and idle, for two years.

--

While she would have been devalued somewhat as a successful hotel (a static ship is never quite the same as an alive, ocean going liner), it would have been FAR better for her to have been converted straight away into a hotel that echoes the SS. Rotterdam.

--

That said, the fact that she's still in one piece and 'ready to go' (in lose terms) means that hope is not lost. QE2 still has a powerful brand, it's just been absent from the market for two years which makes it harder to rebuild (than if she had never 'disappeared').

Dubai or not, an 'abandoned' QE2 in any country wouldn't add value to her brand.

A few other thoughts:

- Cunard's Queen Elizabeth has devalued QE2 - thoughts?
- QE2 'laid up' in the UK would not have made it through the past two years in such good condition - thoughts?

[Twynkle]

Not too sure whether this adds to the discussion above
If there is to be an upturn - let's hope that QE2 will be a beneficiary ASAP
http://www.propertyshowrooms.com/united-arab-emirates/property/news/palm-islands-developer-repays-2-1bn-debt_313176.html

[June Ingram]

Hi Rosie -

Thanks very much for posting the link to this article.  It is very interesting reading and makes for some speculation.  I found it also very interesting that so much (in relation to the size of the article) was written about our QE2.

June   

[PaulInuk]

I think carnival owner or carnival missed out selling her and not mooring her on the thames, as a hotel I think it would have done well  keeping her original to i have changed my mind i would have upgraded one side of the ship and left the other side original. , if I had won that euro lottery prize of 166 millon I would have tried to buy her and bring her back, lots of potential hotel tourist attraction events site some rooms for offices, shows , hire for events , ship tours, cabins dont need changing.mmmm what else? Anyone got anymore ideas? Cooking classes, old crew talks/tours, fishing lots of the crew use to fish from below psssenger decks I have watched them in the past, diving? I, ve seen crew diving, but for checking the ship.if still ok to cruise just doing the uk, snyone got anymore ideas? I, m very firm on my thoughts that she does not need changing.