1/5, 1/6, 1/7 share of the upkeep&use of a 23ft finkeel yacht, wisbech

M

matnoo

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Joined
6 Jun 2006
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171
Location
Solihull, W.mids
www.faceparty.com
I have a boat, given to me by my uncle who at the prospect of 200 hours and a £2000 bill for a refit decided it was too much for him!! It is now completely fitted out, and looks like new. It has all new communication and navigation equipment etc.

Unfortunately after the refit, I dont have enough money to run it! Need about £1000 a year! What Im offering is a time share, but with no up front cost (ie. the boat is still mine), but for £160 youd get 8 weeks (1/6) use of it per year (just like everyone else involved, including me, itd be a fair split)

It is a Glass fibre 6.8m bermuden rigged, fin keel, sloop with a mariner4 outboard motor. It was custom built to cross the atlantic. It sleeps 2 on permenant beds (over 6') and two in a shorter double bed in the forward cabin (5'10"). Since recieving it, Ive had several people comment on how unique it is and how im 'never going to out grow that!'. Im told by my uncle itll do 6-7 knots and is the most stable boat of that size hes ever been on (hes been on a lot!). Were finally launching it from fowey on the south coast in the next couple of weeks and sailing it to wisbech, cambs. Shareholder use will hopefully start in about 3 weeks.

I dont have a lot of experience, and so my immediate priority to to learn how to sail properly through tuition from more experienced shareholders/friends and courses.

Im looking ideally for someone with experience who can provide 1/5, 1/6 or 1/7 of the upkeep costs for a proportional amount of use and who might be interested in lending a little tuition here and there.


If youre interested, please post on here, or email me
m@novacrylics.co.uk and ill send you an email with pictures, full spec and other bits and bobs about whats involved in more detail.

Cheers.

Mat
 
so let me think,
you want someone to pay for your boat, and teach you to sail,but you keep the boat.
ehmm

any way i thought this was an advice forum.
 
Re: 1/5, 1/6, 1/7 share of the upkeep&use of a 23ft finkeel yacht, wis

No, it appears that Mat is looking for someone that will be hiring a boat at a very reasonable cost, along with a definite sailing period.

Other advantages may be the fellowship of helping a noobee sailor, shared cruising experiences, etc.

I think it's a good idea, and I used to think I was a cynic!
 
I want someone to have 1/6 of the use of my boat, with none of the responsibility, maintainance work or capital investment, if they give me 1/6 of the running costs.

and if for a couple of the weekends included in my 1/6 time share, if theyre free, itd be great if they could come out with me for an afternoon and just keep an eye on things.

So for the cost of a new set of running rigging youre getting a whole boat for 2 months, which is probably all most people would use in a year anyway!

It doesnt sound too bad to me!

There isnt a time share forum on here, so i figured this is the next best thing!

(C:

Mat
 
Re: 1/5, 1/6, 1/7 share of the upkeep&use of a 23ft finkeel yacht, wis

I like your thinking too and would have been interested if it was a bit bigger and in the solent. This is a much better system than the standard method of yacht sharing.

Good luck.
 
Re: 1/5, 1/6, 1/7 share of the upkeep&use of a 23ft finkeel yacht, wis

This looks like a very reasonable proposal to me. But, I am not clear how it differs from hiring the boat. In which case you will have problems with insurance/certification which will dramatically increase your costs. Could you get round it by selling a few 1% shares at a nominal cost and splitting the running costs equally among shareholders??

Just a thought, I imagine someone who knows more about this will be along in a minute.
 
Re: 1/5, 1/6, 1/7 share of the upkeep&use of a 23ft finkeel yacht, wis

Im not sure, as far as the insurance is concerned, i was pretty sure its just the boat thats insured? As I dont have any qualifications it can only be insured third party, which I know is a big risk, but simply, its either get it in the water and get people paying me/using it or sell it immediately!! So until I get qualified and have the choise of fully comp, im going to run it like that. Its hobsons choise really, ive just got to trust people not to cause damage to the boat!

As to the share holding, I dont know how that works, with the other 'usage share holders' weve always been working on a casual agreement as were all good friends, whereby, legally, it would just appear that itd be my boat and id be letting friends use it! People would pay me at the start of the year, so I couldnt get screwed, and also theyd guarantee not to get screwed because theyd know my boats got no rebuild insurance!!! I wouldnt like to annoy anyone!!! hehe


So Im not going to be writing strict contracts, as for £160, its not really worth it. But saying that, if anyone insisted on a contract or an alternative way of doing the paperwork, I would be more than happy to oblige.

Im open to suggestions, keep em coming!

mat
 
Sharing a boat ..... as some know already ....

I looked for similar near 2 yr ago and agreed with one..... after various offers fell apart / dropped out for whatever reason. I was actually looking for more than one so as to spread the care of boat out.

Benbow mentions Insurance etc. - in fact I informed my Insurance of the arrangment and I was told no problem. Ownership of craft stayed with me 100%. I paid no extra premium or excess. All I had to do was give full contact details and my confirmation that I trusted the person to conduct himself and boats use in proper manner. In fact when renewal of Insurance came up - all new papers went to his address.
I informed the marina of his car / contact details etc. as well.

The upshot is - in reasonable manner and terms - it is all acceptable and they accept ..... well mine did and they are one of best IMHO Insurance people around.

(My arrangment only differed that I asked for shared maintenance - general run of the mill keeping her ready, but capital repairs etc. - my responsibility.)

And this is directed to Matnoo ............. WHO told you that Third Party Ins. was all you could have without Certificates ? That is Hogwash sir ! What may be the only matter that prevents greater Ins. cover than 3rd Party might be lack of Survey confirming condition of boat. So I suggest you talk to someone like Polestar Ins. (KC Powell) - they can insure boats under 24ft with Boatyard letter stating seaworthy condition. So if you had all that work done - you should be able to cover that well.
 
Re: Sharing a boat ..... as some know already ....

But is it not true that it is illegal to hire a boat in the UK unless it is coded?

I realise that cost sharing like this is a grey area, but if someone died, and it was decided that you were illegally hiring the boat, you could be in the sh!t.

Just being pessimistic - I find I get more nice surprises than nasty surprises like that!
 
I thought same - till I did it ....

As far as I am aware there is no problem and in effect you are not hiring out the boat - you are cost-sharing.

If anyone searched back to when I asked if anyone wanted to do it - there were similar worries and questions then ... as they say - it shook out with the reefs !!

If there was an issue with coding - I think Insurance Co. would have said something anyway ...
 
Re: Sharing a boat ..... as some know already ....

While everyone else is discussing the nitty gritty detail of boat sharing let me be the first to offer, albeit in advance of your arrival, a warm welcome to Wisbech.

Staff and berth holders at Wisbech marina are similar to forumites on here: no airs and graces, friendly banter, ever willing to help and advise and laugh at your mistakes /forums/images/graemlins/blush.gif

But seriously, don't be afraid to send a pm or shout publicly if you need anything.

ps there is usually room aboard ours if you want sailing experiences!! Apparently the seals on the sandbank are still laughing after our last trip - a sense of humour would be advantageous /forums/images/graemlins/grin.gif /forums/images/graemlins/tongue.gif
 
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