Owning a boat is the ultimate luxury lifestyle status symbol, however, there are multiple responsibilities that come with owning a boat outright. Opting for a boat share or fractional yacht ownership might be the most convenient and hassle-free way of owning a boat.

Here, we will explain the concept of a boat share to help you decide whether fractional boat ownership is a suitable option for you.

What is a Boat Share?

A boat share is also referred to as shared yacht ownership or a boat share syndicate. It is a more cost-effective way of purchasing a boat. A shared yacht network allows you to buy a share in a boat rather than purchase it as a sole owner. Think of it like a timeshare for boats, instead of buying a share in a holiday house, you purchase a share in a boat instead.

How Does a Boat Share Work?

Boat shares are pretty simple and they typically provide each owner with ⅛ of the boat. For example, a £2million boat split into eight parts would mean that each buyer pays £250,000 into the boat share. Each member of the boat syndication group will have access to the boat for six weeks every year. If you take part in a superyacht shares scheme, for example, you get to use your superyacht for six weeks in a 12 month period.

How Much Does a Boat Share Cost?

The cost of a boat share depends largely on the overall cost of the vessel. As stated earlier, most yacht share network groups offer the boat in ⅛ portions. This allows each person to purchase ⅛ of the vessel. If the total cost of a yacht is £4 million, to buy a ⅛ share of the yacht would cost the buyer £500,000. There are different options available depending on the price of the boat and your overall budget.

The Pros and Cons of Boat Shares

There are several benefits associated with fractional yacht ownership. There are definitely more pros than cons however, there are still some factors to consider when purchasing a yacht through a shared yacht ownership scheme.

The Pros of Boat Shares

Here are some of the pros associated with buying a yacht through a yacht share network:

Cost-Effective

Purchasing a yacht requires a significant financial outlay. If you want to buy a yacht but want to reduce the overall cost of purchasing one, you can do so by opting into a boat share syndicate. Doing this will reduce the cost and allow you to purchase the yacht of your dreams without spending more than you can comfortably afford.

Less Hassle

Owning a boat is a huge responsibility however when you decide to buy a boat with a boat share syndication you will eliminate the hassle and stress of yacht ownership. When you buy a yacht through a yacht share network, the cost of boat maintenance is shared between you and the other boat share members. The company that you purchase your boat from will typically handle the maintenance, crew and other issues related to the boat.

Experience the Luxury

Owning a yacht is the ultimate statement of opulence. When you buy a boat timeshare, you get to experience pure luxury minus the hefty cost of owning a boat outright.

Make the Most of the Yacht

Often people that own boats outright don’t make full use of their vessels. They often end up docked for several months in a year. Instead of leaving your boat docked, other members of the boat syndicate get to make use of the boat. Making boat ownership cost-effective, convenient and sensible.

Cons of Boat Shares

There really aren’t many cons associated with buying a yacht through a fractional yacht ownership scheme. You save money and get to experience the luxury of owning a yacht without the hassle that often comes with sole yacht ownership. However, are there some reasons why buying a yacht timeshare is not a good idea?

Buying a boat share is the most cost-effective way of owning a luxury boat. However, one concern might be that often the members of the yacht share are not familiar with each other. This is easily solved if a group of friends who all want to purchase a boat, split the cost.

Typically, professional yacht share companies ensure that all maintenance is taken care of, and all legal requirements are fulfilled to the highest of standards. Therefore, purchasing a yacht through a yacht share network should generally be problem-free.

Is a Boat Share a Good Idea?

Yacht syndication is a cost-effective, stress-free way of buying a yacht. If you want to own a piece of pure luxury without stretching your finances beyond your budget, then boat syndication is a good idea. Owning a boat outright is a major responsibility, if you only get three weeks holiday every year, buying a boat outright might not be the smartest investment. Purchasing a boat timeshare would be a more cost-effective way of owning a boat because you get to use it six weeks out of the year and for the rest of the year, you can forget about it and focus on more important things such as business or family.

Deciding whether a boat share is suitable for your needs will depend largely on how much you are willing to spend on a boat. If you want to experience the opulence and luxurious lifestyle associated with owning a yacht without the cost and hassle of sole yacht ownership, then shared yacht ownership might be an ideal option for you.

What is Boat Share and is it a good idea?