Gone are the days when owning a yacht is only for the ultra-rich. When you think of having to borrow from the bank, pay interest and spend about 10% of your initial purchasing cost on maintaining the yacht, you may get discouraged. You also have to consider paying taxes, which could be about 20% of your buying cost. You can now become a yacht owner without going through all of that. Sounds impossible? Well, it’s not.

You now have the option to become a yacht owner by splitting the costs with other people. This is known as Shared Yacht Ownership.

What is a Shared Yacht Ownership?

Shared yacht ownership is the new alternative to sole ownership. When a group of people get to split the costs of owning and maintaining a yacht amongst themselves, it’s called shared ownership. Some people call it a yacht timeshare. They could do this with the help of a “manager” which is usually the company they are working with.

Now, this isn’t like charter or boat timeshare where you pay for the time you use the yacht and also have limited time to use it. Here, you share your rights with your co-owners based on the percentage you own. It helps you save a significant amount of money and lets you live in luxury from day one. This also lessens the burden of maintaining something as luxurious as a yacht.

Owning a yacht on your own would be very expensive, from taxes to petrol prices, crew salaries to general maintenance. Furthermore, you don't get to use it very often. Why break the bank to maintain a yacht that you may only use twice or three times a year?

Shared yacht ownership, also called fractional yacht ownership, allows you to enjoy all of the benefits of yacht ownership at a lower cost. It saves you from having to handle the total annual cost on your own. You are paying less than half the normal operating costs because they are shared by the other parties with whom you co-own the yacht. When you are not using or maintaining it, other co-owners can.

How Fractional Yacht Ownership Works?

As stated several times throughout this article, shared ownership entails purchasing and owning a portion of the boat of your choice. You only need to do the following:

Purchase shares in a yacht.
Reserve your yacht.
Exchange yacht usage with other owners.
You can upgrade your share at any time.

You can go here to learn more about how it works and to begin your luxury lifestyle. You can also view the various yacht options available.

How Much Does It Cost to Run a Yacht Per Day?

A boat's minimum fuel consumption is approximately 500 litres of diesel per hour, and this is only when the boat is stationary. Depending on the size of your boat, moving around would consume between 5000 and 400,000 litres of fuel. According to The Wall Street Journal, this equates to spending between $20,000 and $500,000 on fuel per year.

The crew salaries would cost about $100,000 a month depending on the quality of the crew. Overall, a large yacht would cost up to $50,000,000 a year.

Shared ownership is a lifesaver in this situation. Sharing costs can significantly reduce the amount of money you have to spend each year.

Can a yacht travel around the world?

Definitely. Cruising around the world on a yacht can take one day to a month. Some yachts can go round the world without stopping. You may only need to stop for a few necessities. Some yachts are known to go round the world without stopping.

A 30-foot yacht, according to godownsize.com, can carry enough supplies for you to stay aboard for 90 days or more. While some yachts can sail for up to 200 days at a time.

Is Owning A Yacht Worth It?

Rather than being an investment, yacht ownership is about living a luxurious lifestyle. You can enjoy the benefits of taking some time away from your daily routine and simply relaxing. It is worth it if you are looking for a wonderful way to spend all of your free time. The costs of owning one would be about 10% of the total purchasing cost of the yacht. That is a significant sum of money. As a result, there is the option of sharing ownership. That way, you can save money while still living the luxurious lifestyle you want. That alone is enough to justify yacht co-ownership.

Living in luxury and having a good time during the summer should not cost you a fortune. We understand this, which is why the fractional ownership industry exists. You can still live the life of your dreams while staying within your financial means.

Purchasing yacht shares would provide greater value than paying for a charter. Your boat is ready for you to use whenever and wherever you need it.

To learn more about the various options for fractional luxury yacht ownership, please visit our website. You will also have the opportunity to view the various yachts that we have available and decide which one is best for you.

What is a Yacht Share Network?