demand for fractional ownership

[NorthernWave]

The owner of my yacht is inquiring about selling off a 1 third share of his yacht. He has spoken to a broker/manager who has offered to sell that share for a 10% commision and the manage the vessel for a handsome fee.
The owner asked if it would sell, his response was obviously that it would very fast and that there is a huge demand for fractional ownership. I'm not so sure???
Does any forumite have experience with fractionals and is there a high demand? The concern is the buying and selling of shares at a later date if either party wants out. The broker wanted to divide the boat into 10 shares selling off 3, this would mean the boat could have 4 owners. Sounds like a captains nightmare!!!!! I would however be fine with two owners.

Chris

 

[Deleted User YDKXO]

I dont think its that common now but it will be more so in the future especially for new boats which just seem to go up in price every year ahead of inflation. Some bigger dealers/manufacturers are starting to push it now as well eg MedShare
IMHO its a good idea when you've got 2 or 3 like minded owners but I can't see the point of being one of 5 or 6 owners, you might as well just charter.

 

[mjf]

There is an outfit called Sailtime that does this in the uk.

8 owners per boat sort of thing and all booked up on the web.

If you want it at short notice and its availble off you go without any deduction of your bookable time.

Problem seems to me that you have to haul all your personnal truck down every time and put up with how others might leave the craft.

On large / more expensive jobs with skipper/crew this would not be so much of an issue cos more storage and 'policing'.

Interesting concept . Time share / charter really.