Billionaire Garage Sale

We know you’ve just been biding your time waiting for the right moment to snap up that mega yacht you’ve always wanted. Well, looks like that time has come.

Reuters reports that thanks to a new site called BillionareXchange, many of the toys that were once only the domain of the very wealthy — like yachts, sports cars and even foreclosed mansions — can be yours for bargain basement prices. Well, cheaper than it would have been at full price.

The site serves as a virtual pawn shop for millionaires and billionaires who have felt the repercussions of the recession like the rest of us. The only difference is that instead of walking down to the old pawn dealer — and possibly enduring the ridicule of their rich neighbors — the site allows them to hock their wares anonymously. The company says it counts among its clients famous athletes, actors and “nearly a dozen” billionaires.

So before the market picks up and these billionaires change their minds, hurry up and bid on that gold-plated toilet while you still can.

Photo courtesy yachtfan via Flickr.