Owning a luxury yacht is a pleasure, peaceful afternoons cruising coastal waters and spending time with loved ones onboard your own luxurious vessel. Life can’t really get much better than that. Boat sharing is a more cost-effective way of owning a boat and there are plenty of benefits of choosing yacht co-ownership over sole-ownership. However, like everything in life, there are some pitfalls too.

In this post, we are going to outline the pleasures and pitfalls of shared boating by explaining exactly what fractional yacht ownership is and how it works. How can sharing a boat benefit you as opposed to buying one outright?

How Does Shared Yacht Ownership Work?

Shared yacht ownership, also known as fractional boat ownership is a financially viable way of purchasing a yacht. Instead of paying full price for a yacht, you share the cost by splitting the full price of the vessel with a group of willing buyers.

You can create a boat syndicate yourself; however, the safest way of opting into a yacht syndication group is to purchase a boat through an official yacht share network company. This will give you peace of mind that your yacht purchase is being handled by professionals.

Yacht co-ownership allows you to own a share in a luxury yacht, usually ⅛ of a high-end, luxury vessel. When you buy in, you can make use of the boat for six weeks in a 12 month period, you can also arrange to swap with other boat owners, making it possible to use boats in different locations around the world.

Is Boat Sharing a Good Idea?

Boat sharing is your decision, if you choose to opt into a boat syndication group, you get to purchase a boat without spending the huge sums that you would have to pay to buy a boat as a sole owner without the help of a yacht share network.

When you purchase a luxury boat, you do so to buy into the luxury lifestyle. To enjoy spending time in a luxury setting, cruising the waters and living the high life. It’s an investment in your peace of mind and happiness. There are many mental health benefits associated with spending time near the water such as reduced stress, reduced anxiety and clarity of mind.

If you are contemplating purchasing a boat through a yacht syndication group instead of buying one outright, consider the fact that you will reduce the overall cost and reduce the hassle that often comes with sole ownership.

To answer the question, is yacht co-ownership a good idea? It is entirely up to the individual buyer, it is a good idea if your desire is to own a boat and you want to decrease the cost, it is also a good idea if you have the money to purchase outright but you would rather invest the money you would have spent into property or business.

Is a Yacht a Good Investment?

When you buy a yacht, you ultimately invest in your happiness and the luxury lifestyle that accompanies yacht ownership. Therefore, what you receive from yacht ownership is peace, wellness and you get to experience the joy of owning a luxury vessel, which is a feeling that cannot be described.

With fractional yacht ownership, you eliminate the stress and responsibility of owning a yacht therefore, it is worth it in that sense.

Pros of Shared Boating

Here are some of the pleasures of shared boating

Share the overall cost of buying and owning a yacht

Yacht syndication allows you to share the cost of buying and owning a yacht. The responsibility that comes along with sole-ownership can be quite stressful if you consider the maintenance costs and other factors. When you buy yacht shares, you book your boat for the time you need it and avoid having to deal with crew, maintenance and other issues.

Make Good Use of the Boat

Often yacht owners leave their vessels docked for months and months as they don’t have the time to use them. When you buy a boat as part of a yacht share network, you make full use of the boat because you get to use it for six weeks out of the year. Other users also get to use it for six weeks out of 12 months therefore, the vessel is used more often than when you buy a boat as a sole owner.

Experience Luxury at a Fraction of the Cost

Full Service and Less Hassle

When you buy a boat through a fractional yacht ownership scheme, you actually get to experience full yacht service. Most boat share syndicate companies offer full service which means that crew, maintenance and even food is taken care of. All you need to do is pack up, move into your boat and enjoy every aspect of it without worrying about all the issues associated with owning a yacht.

Pitfalls of Boat Sharing

Are there any pitfalls of boat sharing? Not many, but here is one that you might want to consider:

Sharing means you need to consider when others are using the boat

Boat sharing does mean that you have to schedule your booking when others are not using the boat. Therefore, you may not always be spontaneous when it comes to usage however, if you plan in advance, you should be able to book the yacht for your desired dates. Yacht share companies such as MIY Yacht offer a quick and efficient online platform to easily book your time onboard - one which also ensures all owners acquire time in the peak period.

Joining a yacht share network has more advantages than disadvantages however because you get access to top-end luxury boats without having to pay the full price as a sole-owner.

The Pleasures and Pitfalls of Shared Boating