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Chinese Yacht Fail: $2.5 Million Yacht Sinks On Maiden Voyage (VIDEO)

The "SS Jiugang" isn't a submarine, but it may have been better off built that way.

The Jiugang Group surely suffered a bit of buyer's remorse as the massive yacht slowly sank in the Yellow River during its maiden voyage. The demise of the "SS Jiugang" was apparently the result of "improper handling from the builders who mistakenly estimated the water level causing the water level to exceed the limit," a Lanzhou city Ministry of Transportation official said, according to iFeng.

The 17 million RMB ($2.5 million) ship was eventually dragged out of the water, and is now being refitted for sea-worthiness. No one was killed or injured in the mishap.

According to USA Today, there are about 1,300 private yachts in China, and the government hopes the fledgling yachting industry will expand.

Hat tip to Gizmodo for the find.

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