Pricing The Priceless: The Eiffel Tower
by Simon Zohhadi on Wednesday, 17 August 2011 at 00:26 ·
Scrap Value: Wrought Iron shredded to recycled raw metal.
Tonnage: 8000 tonnes (7300 metric tonnes) at $340 per metric tonne = $2.5 million.
Land Eiffel Tower sits on: 125m by 125m
15.5k m2 x $20k per m2 = $302,580,000.
Scrap Value= $305,080,000.
Cost of Rebuilding Eiffel Tower from beginning:
Eiffel Tower is a combination of trusses = lattices.
Original cost = 8 million Franks (currently $35 million).
Cost of modern rebuild:
Las Vegas Eiffel Tower is similar to original but half the size and made of steel (not wrought iron) and is stronger and more rust resistant but it was more expensive at the time. Today, it is mass produced and cheaper. Also would now weld instead of using rivits.
Originally, it took 2000 men 26 months to build the Eiffel tower.
Cost of Las Vegas Tower today = estimate $60 million
Estimated cost of Eiffel Tower today = 8 (2x2x2) x $60m = $480m.
How much would it cost to buy the Eiffel Tower and operate as a business?
Ticket Revenue = Euros 56 million ($71m) per year.
Restaurant Rental & Souveneir Shops Rental & % etc = $13 million per year
Maintenance =
Greasing elevator pistons with cow fat
Renovation = $70m
Painting (every 7 Yrs) = 60 tonnes of paint = $5.3 million
Electricity = 20,000 Light bulbs = $400,000 per year.
Approximate profit = $29 million
Value = $300 million at current ticket prices.
Could raise ticket prices and advertise using the tower. This would increase the value of the business.
Tonnage: 8000 tonnes (7300 metric tonnes) at $340 per metric tonne = $2.5 million.
Land Eiffel Tower sits on: 125m by 125m
15.5k m2 x $20k per m2 = $302,580,000.
Scrap Value= $305,080,000.
Cost of Rebuilding Eiffel Tower from beginning:
Eiffel Tower is a combination of trusses = lattices.
Original cost = 8 million Franks (currently $35 million).
Cost of modern rebuild:
Las Vegas Eiffel Tower is similar to original but half the size and made of steel (not wrought iron) and is stronger and more rust resistant but it was more expensive at the time. Today, it is mass produced and cheaper. Also would now weld instead of using rivits.
Originally, it took 2000 men 26 months to build the Eiffel tower.
Cost of Las Vegas Tower today = estimate $60 million
Estimated cost of Eiffel Tower today = 8 (2x2x2) x $60m = $480m.
How much would it cost to buy the Eiffel Tower and operate as a business?
Ticket Revenue = Euros 56 million ($71m) per year.
Restaurant Rental & Souveneir Shops Rental & % etc = $13 million per year
Maintenance =
Greasing elevator pistons with cow fat
Renovation = $70m
Painting (every 7 Yrs) = 60 tonnes of paint = $5.3 million
Electricity = 20,000 Light bulbs = $400,000 per year.
Approximate profit = $29 million
Value = $300 million at current ticket prices.
Could raise ticket prices and advertise using the tower. This would increase the value of the business.
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