Looking for 1 or 2 people interested in a yacht share...

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kayenox

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Living near Saffron Walden, sailing out of Burnham
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Apologies if this is not the right thread to post in - My partner and I are at the start of looking for a boat share. We're looking to invest around £15,000- £18,000 and would consider a 50% share or a 1/3rd share arrangement -which would mean we're looking at yachts in the £30,000 - £45,000 range.

We are tending more towards older, slightly heavier displacement boats in the 34-36ft range as we feel we'll get more boat for our money - and are looking for a good balance between a strong, seaworthy and sailable boat but with reasonable accommodation and facilities. So far we've been considering boats such as a Sigma 362, Moody 34CC and a Maxi 35.

We're aiming to keep running costs under control and as such would be thinking more along the lines of a swinging mooring on the East Coast - somewhere around Burnham-on-Crouch, bringing annual costs (including mooring, insurance and routine maintenance - haul out etc) to around £3,000. It would also be great if the co-sharers wanted to sail together on occasions, rather than just together on a technical arrangement - also arrangements where we could co-ordinate handovers to enable us to sail further around the UK coastline.

I've been sailing for 10 years and have YM Coastal, my partner is a life-long sailor and has sailed with her family's yachts for many years. Would be interested to hear from anyone in a similar position who would like a chat about getting involved - drop me a PM.

Plus - would be more than happy for anyone who's set something up similar to hear any advice on things to do or avoid that aren't immediately obvious....

Thanks y'all

Phil
 
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Think you will struggle to find partners for that sort of scenario unless you have friends already interested. Syndicates now tend to focus on buying boats in the Med or somewhere else warm as an alternative to chartering. Makes sense as the objective is clearly to have defined periods when the boat is "yours" and the weather predictable. Many syndicates are professionally managed so members just sail. Less attractive to have a share in an "old" boat in the UK where maintenance and replacements are potentially a bigger future cost.

Anyway, it is worth reading the information on shared ownership on the RYA site. It goes through both the principles and practicalities including a model partnership agreement. Successful partnerships depend mainly on compatible partners and a clear understanding of members' responsibilities. This may be codified in a written agreement. The potential problems revolve around such issues as sharing the time, sharing maintenance, agreeing updating and replacement costs and procedure for selling shares or dissolving partnership.

If all the stars align, partnerships can work well, but if they turn out not to, it can be a painful experience.
 
I doubt that I could share my boat. With that sum, you might be better of with a slightly smaller, older, but all yours boat.
 
Thanks for replies - helpful! I think we wouldn't be looking for a large syndicate - the ideal would probably be just one other like-minded person who recognises that sharing costs of ownership and indeed the camaraderie of working together to maintain and look after the boat is better than being stuck on your own - and the boat gets more usage and enjoyment - which is the main thing! Always saddens me to walk through a marina and see perfectly good boats rotting away, covered in barnacles and with topsides slimier than Trump.

We might just take a punt and use some available funds to get going and then we have something for people to assess and see if they want to pitch in. There's a very well-kept Sigma 362 that I saw at the weekend that we have our eyes on at the moment...
 
boatsandoutboards.co.uk have a boat share page right at the bottom of the left hand sidebar in the "Other" category. Might be wirth checking there from time to time. Ebay also sometimes have boat shares.

Hth,

Boo2
 
Kingfisher 3 said:
Boat shares often end in tears.
Click to expand...

My father has a share in a syndicate that had a contessa 32. It worked well. This was because the agreement was clear on what to expect incliding what expenditure would be, which marina, and in this case a new sail every two years ( the boat had a ful set and this was before reefing headsails.), boat was raced so costs of rating certs cost. Agreement was to when it was your turn and some chanegs so that there was a change in tide to allow going to different places. No lending the boat, always an owner on board when sailing etc. Bost clean dry and nothing personnel or rotting left on board.
Most important was a plan to sell of necessary. if someone wanted out, offer to partners first, ask partners if they knew someone they wanted to join. Offer on open market and get partners to agree punter. If it everything fell apart advertise on 100% of broker valuation, if not sold in six months 80% the 70% etc so yoy know waht your loss could be.
 
I know of quite a few shared ownership boats working well.
Particularly racing boats.
I think it's easier when it's mostly running costs you want to share rather than capital.

As others have said, a clear exit strategy is crucial.
 
lw395 said:
I know of quite a few shared ownership boats working well.
Particularly racing boats.
I think it's easier when it's mostly running costs you want to share rather than capital.

As others have said, a clear exit strategy is crucial.
Click to expand...

Makes sense for a racing boat, partly because there is a clearly defined purpose and partly because it creates a ready made crew pool.

Cruising though is different particularly as it is boat ownership that is often the driver and being in charge of one's own destiny. Finding even one partner that is both compatible and willing to share is very difficult, except when the syndicate has a defined purpose such as holidays in a warm location. Even then compatibility is still important as you are sharing a "dream".
 
Tranona said:
Makes sense for a racing boat, partly because there is a clearly defined purpose and partly because it creates a ready made crew pool.

Cruising though is different particularly as it is boat ownership that is often the driver and being in charge of one's own destiny. Finding even one partner that is both compatible and willing to share is very difficult, except when the syndicate has a defined purpose such as holidays in a warm location. Even then compatibility is still important as you are sharing a "dream".
Click to expand...

One cruising boat I know of seems to work OK.
They do not have equal shares, more a couple of mates have pitched in with minor shares.
I don't think it will be a long term affair, I suspect the parties involved will go their own ways after another 3-5 years.
It's the cheap end of the market, more about sharing the labour and someone to have a beer with after sailing or antifouling as much as to save cash. It's a blokes' boat, not couples sharing a boat. Not everyone wants to sail singlehanded.

How many of us 'share' boats with crew, even if no cash changes hands?
 
Think that there are a lot of informal sharing arrangements going on, and probably successful partnerships. However suggest (from the ones i know of) that they come from relationships that existed before the boat was purchased, rather than as in the OPs case "I fancy a Sigma 362, anybody interested in sharing it?"
 
One NickC of this forum will give you plenty of advice re partnerships. He is well versed in the subject- albeit possibly a bit biased
Search for his " interesting " post re what can develop. That should put you off the idea once & for all
 
Well - we took the plunge and acquired the Sigma 362 - lovely boat, in great condition. Whilst we may still look to have someone come in on a full partnership basis, we'd also consider an arrangement where someone contributed towards running costs and assisted with maintenance in the lay-up period in return for both joint sailing and having some time for the boat on their own - has anyone come across a good way of doing this?!
 
kayenox said:
Well - we took the plunge and acquired the Sigma 362 - lovely boat, in great condition. Whilst we may still look to have someone come in on a full partnership basis, we'd also consider an arrangement where someone contributed towards running costs and assisted with maintenance in the lay-up period in return for both joint sailing and having some time for the boat on their own - has anyone come across a good way of doing this?!
Click to expand...
Have you considered making it available for charter when you are not using it?
 
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