When to go from Charter to Buying a boat?

[duncan_m]

Hi all,

last year we (London Sailing Club) spent around £5k on charter fees, this year based on our calendar of events which might see us out 16+ times this year we'll be spending around £13-£15k on charter.

Typically we go from Hamble but we'll be going further afield around the UK, Cross Channel and so-on this year. Usually we have 6-8 people on a 36-40ft boat Friday-Sunday.

We've implemented a system of making sure that club skippers not only hold the right bits of paper but also that they've been out and skippered with one of the other club skippers. This helps us make sure that we know what level everyone is at and thus what sort of crews to put together.


What I have been wondering is when/if we should buy a boat. If it should be new and then of course which one. Or if we should be looking at a share... Ideas, thoughts welcomed!

 

[KellysEye]

We chartered two or three times a year for twenty years, Med east and west, Caribbean, Seychelles, Bahamas etc. It was cheaper than owning a boat and we always thought that sailing the same area all the time would get boring. We only bought a boat when we decided to go long term cruising.

If you always charter with the same group it could well make sense to share the cost of buying a boat. There's no reason you have to buy or base it in the the UK. Or if you do buy in the UK you could sail it in stages to (say) the Med, or the Baltic, base it there for a while and bring it back. The options are endless.

 

[Perry]

Hi all,

last year we (London Sailing Club) spent around £5k on charter fees, this year based on our calendar of events which might see us out 16+ times this year we'll be spending around £13-£15k on charter.

Typically we go from Hamble but we'll be going further afield around the UK, Cross Channel and so-on this year. Usually we have 6-8 people on a 36-40ft boat Friday-Sunday.

We've implemented a system of making sure that club skippers not only hold the right bits of paper but also that they've been out and skippered with one of the other club skippers. This helps us make sure that we know what level everyone is at and thus what sort of crews to put together.


What I have been wondering is when/if we should buy a boat. If it should be new and then of course which one. Or if we should be looking at a share... Ideas, thoughts welcomed!

The Long John Silver sailing Club looked into buying a yacht about 14 years ago when we only had 8 members and it worked out that if we all had cash available it would work out marginally cheaper in the long term but not all members has the cash to spare.

As the Club grew in size I am glad we kept on chartering as we now sometimes have two or three yachts out at the same time on the Solent, this year we will also charter for events in the West Country, Southern Ireland, Mallorca and Greece.

If your club grows as ours did it is good to have the flexibility of chartering what you want and where you want it.

 

[Tranona]

Your charter fees are very little more than the annual running costs of that size boat if you are using a South Coast marina mooring and paying somebody to look after it so it is always ready to go when and where you want it. This is the service you currently get. Capital cost of a new 38 ft is currently in the region of £130k fully equipped, which adds at least £6-7 nominal capital servicing cost, plus say 30% loss in value over 5 years.

On that basis owning is a no brainer.

 

[Ubergeekian]

What I have been wondering is when/if we should buy a boat. If it should be new and then of course which one. Or if we should be looking at a share... Ideas, thoughts welcomed!

As I understand it, chartering companies aren't exactly raking it in. Unless you can manage an appreciable proportion of their utilisation (I'll guess 80% but am prepared for correction) you'll lose money. Additionally, as others have pointed out, you can have two crews on charter boats at the same time.