Yacht share Pitfalls and advantages?

[Alistairj]

Hi, can anyone advise the best place to find yacht shares or private groups. I am thinking of a quarter share in a jeanneau 54DS yacht in Mallorca.
Thanks.

 

[jonathankent]

Are you wanting to buy a share in a yacht... or selling a share in your yacht?? If buying it sounds very specific what/where you want.

 

[paulrae]

Alistair

I found my partners through an add that one had placed on Boatsandoutboards. We've only just bought the boat, and have yet to have our first fall-out, but it seems to be going reasonably well to date (touch wood).

PM me if you want any details of our set-up (which is considerably more modest that yours).

Cheers

Paul

 

[ShipsWoofy]

Is it not normally the case that the most practical member feels aggrieved as most of 'his' weekends are spent fixing the boat while the other 4 enjoy it.

Just wondering?

 

[cliff]

That was my understanding as well, not to mention who pays for damage, repairs etc and then there is the hassle of who has use of the boat at any particular time and then there is the scenario that the last one to use it does some damage and the boat has to come out of the water so the next in line loses his "turn" - an absolute minefield AFAIAC. I never liked the idea of boat sharing.

I wonder what the insurance companies think of it?
--------------------

"Artificial intelligence is no match for natural stupidity"

 

[gtuson]

Obviously sharing has its problems - but financial and workload advantages obvious. I shared with one other person for a few years and it worked ok. We discovered that we were best not sailing together. Hard to avoid being 2 competing captains. We roughly divided maintenance - he was technical expert and I was labourer. That worked fine, but would have had to change eventuially as I got more knowledgeable. Requires ability to give and take, to be explicit with each other( agreed no smoking on boat; always thoroughly cleaned when left etc etc). We planned ueage on basis of booking year ahead for long holidays and then having alternate weekends plus willingness to renegotiate as we went along. If he didnt want it for 'his'weekend then he'd let me know and I could use it. So sharing can certainly work - but I also know of two lifelong friends who became completely estranged over co-ownership - so beware!

 

[Koeketiene]

Time allocation can be a problem, in particular when two or more partners have kids.

Another thing: repairs & upgrades. All parties need to agree. You might like a cruising chute, other party thinks it a waste of money, etc...

Our first bout was a 1/2 share in an old Dufour 28 - suited our purposes at the time. But I would not do it again.

 

[billysailing50]

we shared boats for over 10years with very few problems and lots of enjoyment .The repairs/servicing etc were all paid for between four of us .t worked out better than arguing over who did or didnt do what .The cost was very reasonable but then it was in greece .If its the only way to afford a decent size boat then its a good compromise we felt .Lots of pitfalls taken care of by using RYA syndicate agreement as we did .never fell out and still talk to partners although we now have own boat .

 

[whisper]

Mmmm. Very interesting as I also share a boat but it looks likely that my co-owner will want to give up his share at the end of this year.
I really don't know what to do - buy him out and be sole owner(really can't afford it) or try to find another partner (may have to, but dread not getting on with them).
My other alternative is for us to sell the current boat and then for me to get something smaller/cheaper - but I love the current boat.
Decisions, Decisions /forums/images/graemlins/frown.gif /forums/images/graemlins/frown.gif

 

[Alistairj]

Thanks everyone, If I got more realistic, ( I like to dream, but my wife doesnt like to spend money! ) maybe a Bene 473 would be better, between 4 shareholders, about £40,000 each for a great boat, I looked on the site you recommended, nothing that interested me but some great deals, some good boats at £10,000 per share.
What boat are you a shareholder of?

 

[whisper]

A proper one /forums/images/graemlins/wink.gif - Botnia Targa 25 MOTORBOAT /forums/images/graemlins/laugh.gif

 

[TheBoatman]

I've never been involved in a boat share but I know a lot of people that have and I would have to say IMHO that it's the best way to ruin a friendship. In the first year all seems to go well but from then on rifts start to appear as to who's doing/done what and who should pay for what.
On the bigger boats (more than 13.7 mtrs LOA) no one seems to have taken on-board the amount of money necessary to keep the boat up to the required MCA standard and invariably the syndicate gets into trouble and the boat is sold off at a loss.

Peter.