yacht share

[iBrow]

A few years ago I took early retirement and for about a year I've been looking for a boat share opportunity, specifically in a cat of around 40', either UK or Med-based, but it's surprising that there seems to be so little interest in this. I would have thought that, particularly in these difficult times, there would be cat owners who might like the opportunity to capitalise on part of the value of their asset and share the running costs. Or would-be cat owners who might prefer to buy a half or a third of a boat.


There are quite a few mono shares on offer, but surprisingly few cat shares. I would prefer not to go through a broker or agency, but would like to come to an amicable agreement with one or two others. I'm thinking in terms of a modern cat, up to six or seven years old, costing up to £150k in total.


If anyone would be interested in exploring this idea or knows anyone who would be, please do get in touch. Or if anyone could shed some light on why there seem to be so few cat-sharers or perhaps suggest a better way to approach this, I would value your suggestions.


Thanks...

 

[paulrae]

I started yachting by buying a quarter share in a mono. It was a new syndicate that the originator started by advertising on Boats and Outboards. Before everyone chips in and says 'Don't do it' I can only report that I was lucky and it worked very well. I only left the syndcate because I wanted to sail more and bought my own boat. The syndicate is still going with my three original partners and two new ones. Anyway - try sticking and an ad in B&O. There's also a site called yours2share.com. That may be worth exploring? Good luck with you search.

 

[Rigger Mortice]

I know you say you don't want to go through a third party but I've seen good reports about Yacht Fractions. I spoke to them some years ago when I briefly considered the sharing route and was impressed with their approach, but I didn't follow up.

FWIW They've only got one rather nice cat on their books at the moment, but it's in the Caribbean. http://evanrolfe.info/yacht/search/yachtshare/679

 

[iBrow]

Hi,

Thanks for your comments.

Yes, I've tried both of those sites and others over the last year - they look good, but haven't had anything appropriate for me, and hardly any cats. I've also contacted other people, advertised and raised questions on other discussion sites, but so far without success...



paulrae I started yachting by buying a quarter share in a mono....

Rigger MorticeI know you say you don't want to go through a third party...

 

[Tranona]

Another recommendation for Chris at Yacht Fractions.

However, think you will have difficulty in finding a share with a cat. The biggest market for cruising cats is the charter market. Very few are sold to private buyers, and those that do buy tend to be retirees looking for long term cruising. A common source of partnership boats is ex charter boats so it may well be that more enter the market as the fleets start selling off their older boats - though more likely to be in the Caribbean where they are much more popular than in the Med.

 

[stranded]

Another recommendation for Chris at Yacht Fractions.

However, think you will have difficulty in finding a share with a cat. The biggest market for cruising cats is the charter market. Very few are sold to private buyers, and those that do buy tend to be retirees looking for long term cruising. A common source of partnership boats is ex charter boats so it may well be that more enter the market as the fleets start selling off their older boats - though more likely to be in the Caribbean where they are much more popular than in the Med.

+1 for YachtFractions. And for sharing if you get a good group, which we did and it provided a couple of years of excellent and economical (compared to chartering) sailing. I gave it up because I am a witter-arse and worried continually about something breaking and not being able to get it fixed in time for the next member out. I'd be wary of 'amicable' agreements though - a legal agreement can still be perfectly amicable while providing protection if things end up not quite so.

 

[tudorsailor]

Another +1 for sailfractions/yachtfractions both own by Chris

I sold 1/3 in my yacht through Chris and all works well. We do have a tight legal agreement

TudorSailor

 

[boguing]

I have met Chris of yacht fractions, over twenty years ago, and he is a decent bloke. Was close to a deal about eleven years ago, choice of two boats in Greece. £5-7k for a fifth share in 37ft ish awbs. Way back then it was not easy to esablish enough ofa picture to go ahead, so I didn't. To my regret. Spent £3k on a three week charter and then started the divorce. Guess where the boat money went?

What he does do well is to put new boat buyers together. Well worth 'phoning him to see if there are like-minded others talking to him.

 

[iBrow]

Thanks to everyone for their suggestions and for taking the time to reply. I've already tried the ones suggested and many others, but with no luck. About a year ago I contacted Chris and he was, as several said, very helpful, but unfortunately had no appropriate boats. (In fact I check the current listings of YachtFractions and other sites every few days).

I was curious about why it's relatively easy to find shares in monos but not in cats. Obviously cats are rarer, but the almost complete absence of them on sharing listings is a surprise to me, and I'm amazed by the absence of anyone in multihull discussion groups who would be interested in sharing a cat.

The ideal would be to find one or two like-minded people and start a partnership, so I guess I'll keep looking... If there's anyone out there who sees this and is interested, please get in touch!

Thanks...!