Yacht share in Greece - pros and cons?

[rex_seadog]

I am considering the possibility of purchasing a share in a small (fairly cheap and cheerful) yacht in The Ionian. Any thoughts, comments, pit-falls etc. especially from those with experience of Greek yacht share in the Med would be very welcome.

 

[bobupanddown]

I have a Yacht down in the Ionian at present. The biggest problem is access as flights to most Greek Islands only operate from May to October. Outside of these times you have to travel via Athens which is long and expensive.
If you only plan to visit in the summmer should be no problem.

 

[walker]

Not Greek, but we joined an existing group in Croatia last year. Our first time but the existing members were all 'old hands' at sharing. The thing they were most worried about in recruiting a new member was that they were able/willing to spend what was necessary to maintain the boat as all had had bad experiences in the past with some group members not stumping up for necessary/generally desired work. Not that they are in any way profligate, but want the boat on the water for their precious weeks, not in the yard. Anyway, it has so far been an unreservedly positive experience. We get to sail for up to 6 weeks a year for considerably less than we were previously paying Sunsail for the pleasure, on a better equipped and more loved boat. Flight thing is something to think about, as are transfers - we looked into buying into a share on Levkas but reliance on Preveza put us off slightly.

 

[squidge]

Red tape, its long and expensive.Then there are fees, upkeep, bribes, the usual.You may find it cheeper to charter a yacht for a couple of weeks a year once all things are considered.

 

[steve_cronin]

You are talking about a yacht share group or syndicate here aren't you rather than a "Yacht Charter management Contract"?

If the former with no outside chartering, it all depends upon how you get on with your fellow members just like any other group ownership.

Specific to Greece, there are a lot of ex-charter boats out there that have managed to get out of the system and upon which no VAT has been paid. You could get lumbered for it as a final user. Check the yacht's status in this respect. As to travel, yes as Bob says it is more expensive out of season but I've just checked and Olympic will get you there and back from Heathrow in November for £286.27 including meals, free booze & taxes. You leave at quarter past eight friday night and arrive in Corfu at 6.30am (equivalent to 0430GMT) having travelled in far more comfort (I don't have long legs but on my last five flights with them I've had masses of legroom and more often than not a full row of seats to myself. Olympic tie their flights together quite conveniently and with of course your bags being checked through it's far better than an Easyjet/Agean combo.

Apart from sails not lasting as long due to the UV, a very wet winter, high levels of summer motoring due to fickle winds, it's a great cruising area.

Come and join us!

Marina fees are cheap too and if you're a member of the CA or the RYA there are also discounts of 6 to 10% available.

Steve Cronin

 

[mirabriani]

Friends chartered last year and I have been invited to join them this year. Only slightly dearer to charter in Croatia the Spain, but apparently weather is better and food is cheaper
Scenery lots better. I look forward to it. I would also be interested in looking at property out there. Any body bought yet?
Regards Briani