I read in the news that after decommissioning its aircraft carriers, the US Navy sells them to a scrapping company in exchange for $0.01.
How does something that cost over $5 billion to build and contains over 50,000 tons of steel get reduced in value to a mere single cent?
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It costs a lot to make a ship like that safe – fuel, oils and other chemicals etc, quite often countries have to pay people to take them away. Cleaning and breaking down the ships is a costly and skilled job, though clearly someone thinks they can make a profit from it.
I’d guess the $0.01 is a symbolic / minimum contact type value, in the uk it’s £1.
I found a news story which covers a bit of the reasoning here https://www.independent.co.uk/news/world/americas/kitty-hawk-1-cent-scrap-ebay-b1996695.html?amp
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