Have you ever dreamed about owning a yacht but the thought of taking full responsibility for a large luxury vessel is somewhat daunting? Well, there is another way! You can experience the wonders of yacht ownership minus the hassle that is often associated with owning a yacht outright.

Instead of purchasing a yacht as an individual owner, you can opt for a yacht share network scheme instead.

How Does Shared Yacht Ownership Work?

You are probably asking yourself, how does this shared yacht ownership thing work? Yacht shares, also known as fractional yacht ownership, is a cost-effective way of purchasing a yacht. Instead of paying full price for the yacht, you split the cost of the vessel between other interested yacht buyers.

Typically, there are eight yacht owners in a yacht share network. Each owner pays ⅛ of the total cost of the yacht and the costs associated with maintaining the yacht are also shared, eliminating the hassle that often comes along with owning a yacht outright.

Each owner gets to spend six weeks out of the year on the yacht. The yacht share company usually takes care of the maintenance and crew which provides you, the yacht share owner, with the time and peace of mind to relax and enjoy every minute of your time on the boat.

Is a Boat Share Worth it?

If you are considering purchasing a boat through a fractional boat ownership scheme but are still unsure, here are some reasons why a boat share might be worth it.

Purchase a high-end boat at a much lower cost
No hassle
More cost-effective because the boat will always be in use
You don’t have to take full responsibility for the boat
Relax and enjoy your boat with your friends and family
Great for stress relief
No need to search for luxury accommodation

As you can see, there are many benefits associated with purchasing a boat through a yacht share network. You will still need to invest a significant amount of money however, you can purchase a share in a luxury vessel for a fraction of the cost. Meaning that you can enjoy all the benefits of owning a yacht minus the hassle, stress and responsibility that often comes with sole yacht ownership.

What to Consider Before Purchasing a Boat Share?

If you are still undecided and you need some guidance regarding yacht syndication, not to worry! Here are some of the things that you should consider before purchasing a boat share.

Price

Price is a major factor and it should definitely be considered before you invest in a yacht share network. The cost of the yacht will certainly be far less than it would be if you were to buy the boat outright as an individual owner; however, you should still gain a full understanding of the costs involved before signing on the dotted line to purchase your yacht shares.

Size, Brand and Model

Another important factor is the size, brand and model of the boat. If you were purchasing a car, you would certainly examine these things before you commit to purchasing the car. Therefore, it is vital that you check this before you go ahead. If the yacht share company gives you an opportunity to tour the boat, take it. Make sure you are happy with the vessel before you purchase it.

How Many Other Boat Owners So Far?

Ask the yacht share company how many boat owners have invested in the yacht syndicate so far. Making contact with the boat owners in the yacht syndicate is necessary just in case you want to finalise certain plans regarding the yacht. It’s good practice to have some connection to the other yacht owners, this makes the whole shared yacht ownership experience more efficient and hassle-free.

How Often Can You Use the Boat?

Most yacht share companies allow each member of the yacht share network to utilise the vessel for six weeks out of a 12 month period. You can split these six weeks up throughout the year or spend six full weeks on board the vessel without taking a break.

Can You Captain the Boat?

Boat owners can captain their yachts however, you do need a license to be able to do so. Bear in mind that fractional yacht ownership companies usually provide the crew and handle maintenance so, you don’t have to worry about captaining your boat but you can if you hold an official license.

Can You Rent the Boat to Holidaymakers?

Most yacht share network members invest in yacht shares for personal use; however, if all boat owners agree, you can certainly rent the boat to holidaymakers. However, you do need to make sure that all the appropriate insurance documents are in order since you are renting the boat out to holidaymakers.

You also need to be aware that there is a 12 person limit therefore, there should be no more than 12 passengers on the yacht at any given time.

Also, remember that if you would like to captain the boat for the holidaymakers, you would need to make sure that you hold an official license to captain a yacht.

Purchasing yacht shares will provide you with the opportunity to invest in a luxurious yacht without having to worry about the responsibility and hassle that often comes along with owning a boat outright. Invest in the luxury lifestyle but eliminate the hassle of being a sole yacht owner.

What to Know Before you Purchase a Yacht Share