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3. Sell HMS Victory and failing reaching the reserve price, remove all funding and scrap the vessel.
HMS Victory is already in the private domain, having been transferred to the National Museum of the Royal Navy. Some of her funding, however, remains from the public purse. Wikipedia says:
...the most significant change in the custodianship of HMS Victory took place on 6 March 2012, when ownership of the ship was transferred from the Ministry of Defence to a dedicated HMS Victory Preservation Trust, established as part of the National Museum of the Royal Navy. According to the Royal Navy website, the move was "heralded by the announcement of a £25 million capital grant to support the new Trust by the Gosling Foundation – a donation which has been matched by a further £25 million from the MOD" .[10] This continues the long tradition of Sir Donald Gosling's support for Royal Naval heritage projects, and aims to safeguard the life of HMS Victory for the next 240 years.