How to Own a Superyacht for a Fraction of the Cost?
Superyachts are the ultimate luxury status symbols, to own a superyacht outright, you need to have millions of pounds in disposable income available to you. Not to mention the maintenance costs and other miscellaneous costs associated with owning a yacht, put it this way, superyachts are made for the super-wealthy. However, is there a way of owning a superyacht at a fraction of the cost? Is it possible to join the exclusive superyacht ownership club without spending superyacht money?
You can choose to buy a used superyacht or you could purchase a superyacht through a fractional yacht ownership scheme instead of purchasing one outright. Firstly, what is fractional yacht ownership?
How Does Fractional Yacht Ownership Work?
Fractional yacht ownership, also known as Fractional boat ownership or boat syndication is a more cost-effective way of purchasing a yacht using a shared ownership plan. Instead of purchasing a yacht as a sole owner, you share the cost with a group of yacht buyers. For example, if the total cost of a yacht is £10 million, the cost of the yacht would be split into eight parts. Therefore, instead of paying £10 million, you would pay £1.25 million instead. This would mean that you own a share of the superyacht and you are entitled to use the boat for a certain amount of time throughout the year.
Typically, when you join a yacht share network you can use the boat for six weeks in any twelve-month period. You get full access to the boat with full-service maintenance and crew throughout your allocated time with the boat.
How Much Does Fractional Yacht Ownership Cost?
The cost of fractional yacht ownership or yacht syndication depends entirely on the initial cost of the boat you want to purchase. There are also added charges like maintenance fees however, these charges are split between the boat owners. If the boat you want to purchase costs £14 million, you should expect to pay £1.75 million to purchase a ⅛ share of the yacht.
How much does it cost to own a superyacht?
Superyachts vary in price, you can purchase a superyacht for £17,000,000 and you could easily find a yacht that costs £80,000,000. It depends on the size, make and model as well as the age of the yacht. You can find a 204 ft Sea Walk yacht that was built in 2005 and refitted in 2014 going for £30,000,000. Whatever the case, if you want to join the superyacht ownership club, it is feasible with fractional superyacht ownership.
What are the Benefits of Yacht Co-ownership
Here are some of the benefits of fractional yacht ownership:
Own a piece of luxury at a fraction of the cost
When you join a yacht share network, you get to own a piece of luxury at a fraction of the cost of sole ownership. You also get to choose a better boat, if you don’t have the funds for the boat you want but you would like to step into the world of yacht ownership, you can do so by opting into a boat syndicate.
Cost-Effective
Owning a superyacht is never going to be cheap, expect to pay the price for owning a piece of luxury, however, buying a superyacht with yacht co-ownership is a cost-effective way of buying a luxury yacht that would usually cost much more if you were to buy it outright. Also, maintenance changes are usually shared between the boat owners making it generally more cost-effective to buy yacht shares instead of buying a yacht as an individual owner.
Hassle-free
Owning a yacht through a yacht share network is hassle-free and more convenient than owning a boat as a sole owner. Why? Because when you own a yacht through a shared ownership scheme, you eliminate some of the hassles and responsibilities of owning a boat outright. For example, the boat syndication company often takes care of crew and maintenance meaning that you can just board your boat and enjoy the experience without having to worry about dealing with the inconveniences that are often associated with owning a yacht.
Make the Most of Your Yacht
Many yacht owners only get to enjoy their yachts for a few weeks in the year. Majority of the time the boat is left docked and empty. Therefore, it makes more sense to buy a superyacht through a fractional yacht ownership scheme. That way, you and the other yacht owners in the group will make full use of the yacht instead of leaving it sitting empty for weeks and months.
Swap Your Yacht Time
You can swap your yacht time onboard your own yacht with other yacht owners in various locations around the world.
Fractional yacht ownership makes owning a luxury yacht a reality by giving you the opportunity to purchase a portion of a superyacht at a fraction of the cost. Superyachts are typically reserved for the super-wealthy; however, if you have enough capital, you can drastically reduce the overall cost of buying a superyacht by sharing the overall cost with other superyacht shareowners. You get to spend up to six weeks out of the year on your superyacht, giving you full access to the luxuries and amenities of your yacht including full-service crew and maintenance, making yacht ownership hassle-free, cost-effective and more convenient.