Boat Share....from MBY article

[D3B]

When in the library contemplating the wallpaper this morning I read this article with great interest.

As he states at the end of the article it was almost as though he was trying to sell the idea and had an interest in the company.


Well its got me thinking....

is it worth considering?
a much bigger boat with shared costs sounds appealling


anyone tried it or doing it?


would prefer not to decamp to the med. so is it a viable proposition in UK?


and with going the share avenue it "seems" that there is no need for full coding as with chartering.

I suppose the ideal would be a couple of palls you get along with.....sharing the boat on some holidays.

Whats the thoughts of the panel?

Doug

 

[mainshiptom]

I used to share a boat many years ago but not for me !


I think if you do not use the boat much it is a good idea, I use my boat for most weekends and maybe an other 4-6 weeks on board, sometime 3 months at a time.

Tom

 

[Whitelighter]

My parents shared several saily boats with the same two other parties very successfully over a 22 year period. They found it easy to use the boats and upgrading was always done with concensus (the partner ship purchased 3 new boats).

It is best done with friends, but you have to set out the rules fairly carefully. We always made sure the tanks were full, the boat was clean and of course you couln't leave many personal posessions on board. When it came to repairs, each partner put a sum of money into a boat account by SO every month so if anything need doing the money was there.

If it works well it is great, though I imagine it could be very frustrating if it doesn't

 

[peterb26]

I speak with absolutely no knowledge of the subject - but no change there....... /forums/images/graemlins/blush.gif

I looked at a yacht sharing scheme with Challenger Syndicates using a Bavaria 42 (I think?) from memory.

Seem to recall that most of the figures looked quite sensible - and each party to the syndicate owned x percent of the boat.

Yes - the boat cost was pretty much full retail and you could buy it a lot cheaper if you were buying privately. However you'd expect that and it doesnt hurt quite as much as when you are buying the whole thing yourself.

The thing that put me off was the dreaded "management charge" - that covered "organising cleaning, maintenance etc etc". I cant remember what it was - but when I multiplied it by the number of sharing owners I thought "hold on we could employ someone full time out in Majorca for that".

I think the sharing idea would work well if you found a group of like-minded people who could work together.

This would pretty much remove the "monthly management charge" although their would be an initial overhead in setting up the legalities for the syndicate to part own the boat.

 

[Nautorius]

Dougie,

Earlier in the year I nearly did this with a boat in Menorca. It was privately owned by 4 people each with 25% each. They had sunseeker Menorca look after it and the total cost shared between 4 was under £2k a year for a Bayliner 285. I would have done it but I needed my cash for other business commitments.

The Management charge is what kills it on most 'Syndicate' boats.

I would do it with the right group for a boat in the Med, worked out at £650 a week including purchase over 5 years..so a bit of a bargain and based on only using 28 days of my allowance.

Cheers

Paul /forums/images/graemlins/smile.gif

 

[Chas25]

Hi Paul,

Sorry being a bit dense today was the 2k each or between 4? abd was that for the Sunseeker or Bayliner?? /forums/images/graemlins/confused.gif

Got any details of the company, if so can you PM them to me!

Cheers
Charlie

 

[Nautorius]

Hi £2k per person. Boat was a newish (1 year old) Bayliner 285 based in Mahon and crammed into a corner on the Sunseeker Jetties and looked after by them! £2k covered berthing, guardianage, servicing, lifting, storage, antifoul, upgrades so was very cheap!

As far as I know the share was sold off. Privately done by an owner who wanted to get more value out of boating. I believe it has been such a success that they are looking at a 34ft boat now as well! Will let you know if I can track him down.

Cheers

Paul /forums/images/graemlins/smile.gif

 

[Deleted User YDKXO]

My first 2 boats were shared 50/50 with a mate who is now an ex-mate due to us falling out over the boat. We found we differed on virtually every aspect of owning a boat. I wanted to cruise far and wide, he wanted to stop at the nearest pub, I wanted everything working 100% on the boat, he was'nt prepared to put his hand in his pocket for anything. Eventually he got a girlfriend who hated the boat and I ended up buying him out. We even disagreed over the value of his share. He wanted back everything he put in ie 50% of the new cost of the boat, I was only willing to pay him 50% of the depreciated value
However, we do know people who do share boats and it works for them because they agree on how the boat should be used and maintained and they agree in advance who has the boat on what dates. The other way to do it to buy a syndicated share in a boat through somebody like Challenger but the cost of the shares I've looked at always seem very expensive compared to the actual value of the boat
I would do it again with a Med boat because the usage is so much less

 

[Nick_H]

I think it works in the med, but not so sure about in the UK. Reason is in the med you have to plan ahead a bit anyway to book flights, but with more reliable weather you are likely to have decent cruising a fair proportion of the time.

In the UK the weather is far less reliable so you need to be able to pick and choose the times you spend on the boat, often deciding at the last minute whether to use it or not. How many decent cruising days have there been this year? If you're in a boat share then sods law says your partner will get all the good days.

 

[Deleted User YDKXO]

Yup, thats exactly right. The one big difference between Med boating and UK boating is that you can't just nip down to the boat when the weather looks nice as you tend to in the UK. The other factor that makes Med boats more suitable for ad hoc or syndicated sharing is that virtually all of the maintenance is done by outside contractors anyway so there would be no argument about somebody not pulling their weight

 

[Sneds]

I bought a boat with a "mate" about 10 years ago. She was a 28' twin diesel Sterling Sabre in need of a little work.
My "mate" made no contribution to the mooring fees or mechanical work that was carried out on the boat.
Eventually I swoped the boat for a Shogun and then sold the Shogun, recovering most of my money.
I have not seen or heard of this "mate" since and now jointly own a boat with my wife!
Moral of my tale? Chose your partner carefully and ensure you both want the same things possibly using the boat together. Or, marry a lady who is madder about boats than you are! /forums/images/graemlins/smile.gif

 

[puskin]

After a previous experience in sharing a Carver 396 in the Canaries never never never again