Boat fractional ownership

[JohnnyL]

I know that there have been quite a few posts on this subject but most appear to be about buying into a boat already owned by an individual or to buy a boat with a friend or friends.

I am considering buying a 25% share in a 44 foot motor boat in the Med (Spain) but this is from a yacht broker called E-Stock Yachtshare, they handle all of the management, maintenance and cleaning of the boat. They have storage facilities where co-owners can leave personal items which they take onboard before one of the owners joins the boat.

With a 25% share I would get to use the boat for 80 days each year, that is 20 days each season which is split into Jan, Feb & March and so on. Booking is done online but can be swapped between the other co-owners. The remaining days (45 days) is used for annual maintenance and cleaning the boat when one owner leaves and the next owner joins.

Just wondering if anyone on here has heard of E-Stock Yachtshare or used them.

John

 

[Bobc]

Sounds similar to Flexisail.

 

[crown22]

If you hand over the money to a company and it becomes insolvent you may lose your "investment".You might want to google "Challenger Yacht Syndicates".You should ask to see the original VAT invoice for the yacht.It should be a proper document and not a photocpy. If Brexit happens you might find that the Spanish authorities ask for extra matriculation or VAT type taxes.They might insist that you use a Spanish captain. I've had three yacht shares in Spain.

 

[petem]

I own a 1/3 share in a motor boat in the Med so have some experience. Before using someone like E-Stock Yachtshare I'd want to reassurance that I own a share in the boat and not a share in a company that owns the boat. I'd also want to understand what E-Stock Yachtshare charge to manage the boat and what safeguards there are against them increasing their fees. Also, are you able to change the mooring location with the agreement of other co-owners, etc?