Written by: Ryan McVinney Category: Boat Buying | 3 Min Read
Cheap caviar, low-priced sports cars and affordable yachts might sound like three oxymorons at first. However, at least one of these terms could be more attainable than you may think. For those who can’t afford to buy a boat, but still dream of hosting friends and family onboard their own luxury vessel, there are now companies that offer innovative “yacht share” solutions, to make that vision more feasible. These fractional ownership programs provide yacht owners with a truly private experience at a mere sliver of the purchase price of a typical motor yacht.
How Does Fractional Yacht Ownership Work?
So how exactly does fractional yacht ownership work? Essentially, this smart boat ownership option allows co-owners to divvy up the equity in a yacht while sharing the cost of boat ownership, including marina/slip rental, dock fees, maintenance, repairs, insurance, accounting and crew. Typically a management company is hired to oversee the day-to-day duties, crew and schedule, allowing co-owners the chance to relax and enjoy the perks of yachting without all the headaches that often go along with it.
Saveene, a fractional yacht ownership company in Lantana, Florida offers their owners the unique opportunity to hold equity via stake holding in the actual company. As the owner of multiple yachts and luxury assets, the company offers its equity holders private use of their luxury vessels via a convenient back-office, online booking system. When they arrive at the docks, they are treated as the actual yacht owner, with the owner’s guests seeing Saveene as merely the on-site management company taking care of the boat. Guests will enjoy a seamless, private experience with full access and without any interference from anyone. Saveene can even coordinate having personal items onboard for the co-owner when they arrive.
What Are The Benefits of a Yacht Share?
“Many people do not understand the benefits of Fractional Yacht Ownership yet,” said Andrea Zecevic, CEO of Saveene. “Yachts make sense owning if they can be monetized and used daily, not sitting still in a marina. Fractional yacht ownership works because your yacht is always in motion, creating revenue and reducing your capital expenditure.”
Co-owners with Saveene have the option of purchasing anywhere from 10% up to 90% per fraction and get their own title and certificate of ownership. A variety of on-the-water activities are included with ownership – from water toys and watersports, to learning to sail and dock with your own private boat captain.
International cruises to the Bahamas and Mexico are available as route options and owners get full access to all of the marina’s facilities. Further benefits include a discount on gas, concierge service, linen and towel cleaning service, private club house, tax write-off, hurricane plans, cleaning and more.
How Much Does Boat Co-Ownership Cost?
As an example, Saveene charges $149,950 for co-ownership of a 64 foot Aicon Flybridge yacht. That price includes a crew of three to operate the vessel, with accomodations for up to eight guests on a motor yacht that is perfectly suited for taking longer trips to the Bahamas or through the Florida intercoastal waterways (ICW). The company also has smaller fully-equipped yachts available for less, including a 34-foot Sea Ray Sundancer and a 37-foot Carver Mariner.
So, if you thought yacht ownership was out of your reach, you may want to reconsider and take a closer look at fractional yacht ownership as a viable, reasonable and lower-cost alternative to purchasing a yacht on your own.