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Big ships, big price tags

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mercedes

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Seems like just a couple of years ago a new cruise ship could be had for $500 million. Then, when the Celebrity Solstice debuted late last year, Royal Caribbean Chairman called it a "billion dollar ship." He may have been joking (he said it with a laugh), but when you add the Solstice's fancy art collection and décor, who knows?

Royal Caribbean's highly anticipated, 5,400-passenger Oasis of the Seas, set to debut late this year, is estimated to be costing between $1.2 and $1.4 billion. And now comes word Norwegian Cruise Line won't be paying much less for its 4,200-passenger Norwegian Epic.

In an SEC filing this week, NCL put the cost for Epic at about $1.2 billion. That's up from an original order price of under a billion (which I guess would have been a bargain, when you consider). The ship is being built in Europe and rates for the Euro have been fluctuating. But still, that's an expensive ship (NCL also paid $128.8 million to the shipyard when it cancelled a contract for a sister ship to Epic).

How that will translate into rates for the Epic, when fares go on sale May 20, remains to be seen. The ship is set to debut in May 2010.

Like the Oasis - with its tree-lined Central Park, merry-go-round, zipline, and performing divers - Epic has a lot of whiz-bang features including an Ice Bar, 14 restaurants, six bowling lanes and an extensive water park.

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I have a hard time shelling out double for the same 7-day cruise because it's a new, bigger ship. The older smaller ones go to the same places and seem to do just fine, thank you very much. (For Example, Oasis is over $1300 for a 7-day Carribbean balcony; I've paid less than $800 for the same itinerary. But that's my opinion and we know what that's worth.)

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