You’d love to own a luxury yacht, but common sense says you’ll only be able to use it now and again. You could charter a luxury craft whenever you fancy it but that’ll cost a fortune. So is yacht co-ownership the way forward? Let’s explore.
One of the biggest issues around owning a yacht is the frequency you’ll use it. The stats say owners use their yachts for an average of just five weeks a year, a maximum of eight. The experts say if you’re likely to be on board for less than a fortnight a year, charter it. For 2-12 weeks usage a year it makes financial sense to share the vessel on a co-ownership basis. If you’re likely to be on board for more than three months a year, buying is probably your best option.
Essential yacht usage comparison
Here’s an example of the relative outlay for buying, chartering and co-owning a yacht. In this example, ownership comes with an up-front cost of two million US Dollars, with additional annual costs of $200,000, a weekly cost of $50,000 per week for 4 weeks’ use – a total of $200,000 – and a weekly bill of $33,333 for six weeks on board totalling a few dollars under $200,000.
Chartering comes with no purchase costs or annual costs but your weekly outlay for four weeks a year comes to around $40,000 to $160,000 a week, totalling anything from $160,000 to an eye-watering $640,000 and rising to a maximum of around $240,000 for six weeks’ usage.
Co-ownership comes with an average $200,000 purchase cost for your share, plus around $24,000 annual extras and a cost of use for four weeks at $6000 a week, a total of $24,000, and six weeks at $4,000 per week, also totalling $24,000.
As you can see, the savings achieved by yacht co-owners are significant. Our fractional yacht share programme is the smart choice, giving you a super-simple yacht ownership experience without the maintenance costs, docking fees, provisioning, crew, management and more. In short, absolutely none of the usual hassle attached to traditional ownership.
More ways to save money by sharing a luxury yacht
Some say owning a yacht is like pouring money into a hole in the ground. Unless you stay on top of the maintenance, barely using your boat can easily leave you with a vessel whose condition deteriorates, losing you painful amounts of money when you sell. Thankfully there’s no need to lose your shirt to enjoy life on the ocean. Let’s face it, you didn’t get where you are today by wasting money. You’re wiser than that!
Share a boat with like-minded people and you get the yacht of your dreams on your terms. It feels exactly like ownership but without the headaches. Because we spread the cost flexibly and affordably it makes even more financial sense.
Our network of exclusive on and off-shore services delivers a private members’ experience. You enjoy the seagoing lifestyle you deserve in a sensible way that protects your investment. Your vessel is beautifully maintained year-round as standard, easier to sell and less likely to depreciate because of neglect.
If you’ve owned a yacht before it could prove a relief to hand over responsibility to the experts and simply enjoy the ride. If you’ve long aspired to own a luxury yacht, your dream becomes a reality now, not later. If you thought it was impossible to ever own a yacht, we make it entirely possible.
Done our way, yacht ownership doesn’t mean you have to be a High Net Worth individual. You no longer need to stack up twenty million in assets to blow at least two million on a boat. And you don’t have to shell out enormous ongoing expenses.
An example of a yacht share – the YSN way
How does this sound? For just $250,000 you can enjoy six weeks of luxurious fun at sea, with annual costs of just $25,000 or so versus a charter fee of $30,000 to $40,000 per week for exactly the same yacht.
If you’d like to explore a genuine turnkey solution to the yachting lifestyle for a fraction of the cost, we’ll be delighted to discuss the potential with you.
