Yacht sharing

[david_e]

I am considering this option in order to get the boat I want at the price I can afford and spread the berthing/runnin cost etc. Have it in mind to sell a third and retain 2/3rds, boat would be nearly new, aprox £60k.

Would be pleased to hear views on the pro's & con's of this route. Thanks.

 

[Skyva_2]

I've shared for 6 years and found it excellent. You have to give and take but the sharing of cost and work more than makes up for it. Obviously a lot depends on the compatibility of the partner.

I could not possibly use the boat every weekend so for me it works well. The RYA has a draft partnership agreement, PM me if you would like a copy. However, if you need to resort to the agreement its probably too late!

One point to watch carefully is what happens when one partner wants to sell. The notice period and the selling process can be fraught, and the market is limited. And who approves the new partner?

A two thirds split would need thinking about; if one partner is an obvious 'junior' in the decision making it could lead to difficulty, it depends how you handle it.

Keith

 

[tcm]

Re: tellus more

Although i have heard bad things (like the 6-way parnership wher each had 1 week over summer and nobod knew who had put water in the fuel tank...) the balance tends to be good excperiences.

1. Does it work best if you are all keen to do the best for the boat - or all on a shoestring or what?

2. WEhat porblems if there a junior 1/3 share against other 2/3 sharer? Bet what might happen is that the 1/3 sharer gets half or more in low season time, and a strict 1/3 in high season - or is it based on use?

3. Wd like that rya share agreement

 

[salamicollie]

Might be worth talking to yachtfractions who specialise in putting together/selling shares - www:http://www.yachtfractions.co.uk/

Two words of advice
1. Don't do it with a friend
2. Don't do it without a contract

I had friends who shared informally and it all ended in tears

 

[david_e]

Thanks all,

Have joined the RYA at SBS (they gave me a nice little nav bag) so I will download their agreement. Have also spoken to Yachtfractions and I am considering their terms (5% + VAT).

Looks like the verdict is positive. Any partnership is a hard ship to sail so the 'bonding' is the non contractual bit that could be the most difficult to overcome.

 

[JeremyF]

I agree with the earlier comments about structure and contract; you need to do it properly.

I think the crunch question is whether you are a natural sharer. If you dont mind taking off bedding and oilies, food and pillows each time; if you dont mind consulting before you add/change things; if you dont mind that things wont be quite as you would have wanted them, then you will surely have a decent partnership. Ask your wife to judge!!

For me a share was a good way to enter the world of yachting, but after a couple of seasons I wanted out, 'cos I'm not a tolerant sharer, I guess.

For £40k you canb get a very nice yacht for yourself, and save 60% of a marina charge with a deep-water swinging mooring with a water taxi. Join a cheap sailing club with a pontoon, and you almost have the convenience of a marina berth.

<font color=blue>Jeremy Flynn/forums/images/icons/crazy.gif
Dawn Chorus</font color=blue>

 

[Toutvabien]

We have shared for seven years without any problem of consequence. We share oilies, food, fuel, bedding, and all the other yacht kit. We have a joint account that each partner pays into by direct debit each month. The important bits are communication and the capacity for give and take, we all sometimes have to get off the boat in a hurry leaving it without the water tanks topped up or having broken something that we were not able to fix. As long as the other partner is aware they can make aloowances for it.

The biggest bonus has to be a fitting out and laying up time when there are more hands to make light work, and the fact that the boat gets used more often so gear gets looked after. I guess though one is either a natrual sharer or not!! It works very well for us.

 

[david_e]

Think that asking the wife about my tolerance levels could be slightly counter-productive!

Sharing is 2nd prize without doubt but it does open other avenues to a better boat.

It could be that the new sharer is a real good egg like some of those who have posted here, no doubt the old saying " a partnership is a hard ship to sail" has some vertue in this situation.

 

[Mr Cassandra]

Hi .
I dont know where you are going to use your boat ,I was once in a partnership in Greece Made up by Yacht Fraction ,Had no problems at all with the owner Chris Hawes . However lots of problems with the syndicate.one grounded the boat and forgot to tell anybody ! and he was the manager that season, and was the person who took the boat out of the water at the end of season not saying the keel had parted company with the hull £7500 to repair .BE VERY CAREFUL.
If you are going to buy in Greece beware of an agent working with Y/ F He realy inflates the price Much cheaper to go yourself Lots of boat for sale without agents in Kalimaki Alimos . if you need more imfo please PM. cheers bob t

Bob T

 

[david_e]

will be uk based. working on the theory that if someone has £20k invested as a third, then they will have an interest in looking after the boat well. because the marina location carries a premium then it could well be that actual price is inflated by 2 - 3k to reflect this further raising the boats welfare.

Also, because of the share factor, will pay for (and insist on) best insurance.

 

[Mr Cassandra]

Good . If you use Chris Hawes at Yacht Fraction I don1t think you will have a problem .Highly recomend him A agent that tries very hard , imo. cheers bob t

Bob T