Your Thoughts on Shared Ownership?

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Granted you need to buy at the right value relative to the current market but I dont hold with the high hours bit, I would rather have engines with high hours and a good history than ones that are 5 years old, low hours, dodgy history and have sat on a berth most of their life

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We have argued this old chestnut many times before on the forum. The fact is that the market values a low hours boat at a higher price than a high hours one. In the case of a syndicate boat, a 5yr old boat with 1000hrs and 10 owners is never going to be worth as much as a 200hr boat with 1 owner, however diligently the syndicate boat is maintained

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Hi Mike

Surely if your exposure is only a 33% or 20% of the depreciation that is going to be less than 100% of the depreciation on a lesser used boat?
 
Yup, and we included in our agreements a limit on each person's hours to X so that one heavy user didn't inflict massive depreceiation at everyone else's cost and the boat stayed at <200yrs pa approx. And if a person used less than the limit in one year they could carry forward the credit, etc
 
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Yup, and we included in our agreements a limit on each person's hours to X so that one heavy user didn't inflict massive depreceiation at everyone else's cost and the boat stayed at <200yrs pa approx. And if a person used less than the limit in one year they could carry forward the credit, etc

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Hi jfm

Sounds like a good syndicate, did you have a legal formal contract and a management company or agent? It seems either way its all about the getting the right guys in the first place
 
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Sounds like a good syndicate
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It seems either way its all about the getting the right guys in the first place

[/ QUOTE ]Seconded, on both accounts!
And the bigger the boat, the more it makes sense.
If there's any decent chap who would like to arrange something like that, in the med, and with a beauty like this one or similar, I'm available!
 
Yes we had a formal legal contract, nothing special. But we hardly ever referred to it, becuase each person was flexible and reasonable. We didn't use a management co and, personally, I would never use one. They are, imo, just a hassle factor. They have no skin in the game and only care about their own fee. You are much better getting a group of (say) 3 owners and running the syndicate yourselves with no middlemen.
 
I have worked with (and continue to) schemes run by professional companies in particular On Deck and Fairview Sailing.

It works very well for those who enter into the scheme but it does depend on how you like to do your boating because if your a last minute time person it doesn't work because the boat may be prebooked already, however if your super organised then it can be a good way of reducing your costs.

So schemes also allow the boat to be chartered in the "downtime" which means you can recoup some of your costs.
 
'Hello'!!! Nautical

Nice website! How are you finding getting syndicates together? Do you start with offering a particular boat or do you start with one commited guy and build around them?

I guess the way things are anyway that you can is a good way! but seriously what works?
 
If the choice is between putting £100k into your own smaller boat or putting £100k into a syndicated larger boat, then it's the same assuming similar rates of depreciation. But my point was that these syndicated shares in large boats often seem overpriced, often because the price includes a management fee, so, whilst it may seem attractive to pay £100k to get use of a £500k boat, the chickens will come home to roost in a few years time when the boat is sold and the proceeds divided between the owners at a huge loss
The point is don't overpay for the share and assess it's value against the realistic value of the boat at the time you buy in
 
I agree.

2 Years ago I tried to buy a 1/5th share in a med synidicate run out of Menorca. However they all overvalued the boat by 25%! Although the boat was only about £50k (Bayliner 2855) and it was a private syndicate and it was only costing me £2.5k over real value I refused the deal.

Shame though as it would have been cheap med boating...

Paul /forums/images/graemlins/smile.gif
 
Mapism, that boat looks a beauty. What do you know about Real Ships? They do a lot of advertising in the UK mobo mags but I've never seen a test or an article on their boats or seen any of their boats in Europe
 
well early days so far, but we have a couple on the go already.

I guess I am in a bit of a unique position being the distributor for the product as we have vessels in build at any particular time so anyone of them can be switched into a scheme as soon as 50% of the shares are sold, we then market the other 50% before the boat is ready for delivery which can be up to six months away. we also do not load the price of the boat because it is to go into a scheme it is exactly the same price or even less as retail price, the fees are indeed over and above what an individual may spend on their own but a lot less than you might expect. On bigger stuff clients are generally not into hands on maintenance and all the faffing about organising everything, they just want to rock up, turn key and go, bring it back and hand the keys over, some will not even skipper it themselves but have us provide the skipper and hostess.

Can work both ways, either someone buys a share and we then look for other owners during build or we take a build and offer it out. I would suggest most would like everything place beforehand and then go to the yard and see the boat being built and add the various options and spec they want.
 
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Mapism, that boat looks a beauty. What do you know about Real Ships?

[/ QUOTE ]Not a lot really, on the builder as such.
This is their yard in Alabama, and there are a couple of pages (#6 and 7) about that boat in this pdf file on John Deere website (btw, in pages 8 and 9 there is an another interesting article on the Dashew FPB).
Real Ships is regularly advertised also in PassageMaker, but as all steel expedition boats they're actually custom built on order, and in very small numbers.
There are quite a few similar boats on the market at the moment, built by various US or Canada shipyards.
But steel expedition trawlers are not (yet) very popular around here, possibly with the noticeable exception of Naumachos line, built by CNP:
MV0W7254.jpg


One "Real Ships style" explorer which afaik is berthed in Monaco is Lord's Warrior:
16297-what-about-cape-horn-yachts-lords-warrior.jpg


But be warned: you risk to see ANY grp boat as a child's toy, after looking at one of these beasts in flesh.
And I mean ANY, including Nordhavn, Riva, whatever - you name it.
 
I'm currently in a shared ownership "scheme".
This has allowed me to enjoy a far better quality boat than was otherwise possible. We are talking about a small boat in comparison with earlier respondents but the initial purchase cost was similar to that which would apply if 6 people had bought a £200k boat.
I agree completely that the max. number of people involved should be 3 - we are just 2. Similarly, you have to be friends for it to work.

We have a very basic A4 sheet of paper describing how the agreement will work re. payment of running costs and if one of us wants out. It seems to work really well - has lasted 5-6 yrs so far.
 
It's perhaps worth noting that shared ownership works for all boat sizes. I did it years and years ago with a boat costing £6500. Many 30m ish boats are shared, eg the 2 Mangustas in Antibes called 4 Friends and Four Friends are owned by... 4 friends (2 couples). Super/mega yachts too: Maltese Falcon is now in shared ownership
 
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