The trouble with trophy wives is that they're high maintenance. They make you look like a real player: Rivals are impressed you bagged one, and boy do they look great on your arm. But a few years in and you begin to see that beauty is often skin deep.

Maybe that's a tortured analogy, but it's the first thing I thought of when reading that Ford Motor Co. (NYSE: F) has put its two luxury brands, Jaguar and Land Rover, on the block.

There had been a lot of speculation, recently, about whether Ford would unload these two European hotties. Some said that with its recent $800 million sale of Aston Martin, (to a group of Kuwaiti investors, of course), it wouldn't need to sell two brands that might help it make a go of its "Way Forward" plan. Other industry watchers decided the U.S. auto maker, in desperate straights now, having lost a record $12.6 billion last year, really had no choice anymore.

Jag and Land Rover, both built in the UK, were consistent money losers. And let's admit it: Was there ever any synergy there in the first place? Tony, sleek Jaguar and the stately, patrician Land Rover just never did seem to jive with Good-ol' Boy Ford. Both were pricey to keep up. And Ford really can't afford any extra luxuries these days.

Ford has tasked the Goldman Sachs Group, (NYSE: GS) and Morgan Stanely (NYSE: MS) with selling the two brands. You can bet private equity is circling. It loves pretty, shiny baubles. And it can afford them.

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