Outstanding oceangoing experiences are the norm with Yacht Share Network, as revealed by this inspiring real-life story. When you’re keen to maximise your enjoyment, minimise the cost and fall in love with life on the ocean wave, yacht sharing is pretty hard to beat. Let’s see what Mark thinks about life on board one of the Yacht Share Network’s splendid luxury craft.
How a conversation with an RYA instructor changed Mark’s life
A share in a 2008 Princess 62 Heavenly Days got Mark’s imagination going, as did the craft’s location: Puerto Portals on Mallorca. Right at the heart of the beautiful Bay of Palma, Puerto Portals is the Med’s most prestigious nautical and leisure complex with 650 moorings, exclusive shopping, eating and entertainment.
The reality turned out to be even better than he’d imagined. A six-week share in a stunning yacht for just £89,000 plus £19,000 in maintenance contributions? No wonder Mark reckons sharing delivers better value and more fun than buying a Mallorca holiday home.
Boat or holiday apartment? No contest!
As a qualified marine engineer, Mark had reached the point when he could choose to either buy a holiday apartment on his beloved Mallorca or buy a boat. Some of his friends owned a Sunseeker in Sotogrande, about 16 miles northeast of Gibraltar, and blending a holiday home with being on the water seemed like an inspired idea. So, a boat it was.
In spring 2016 Mark took his RYA Day Skipper course in Mallorca and passed. When the instructor heard Mark would like to buy a yacht, he advised him to check the total costs before deciding. He also recommended exploring sharing a yacht on a syndicate basis, a proven way to avoid the hassle of ownership and shave a fortune off the ongoing costs.
Inspired by MB&Y magazine
On his way back to the UK, still mulling the boat-sharing proposition over, Mark grabbed a copy of Motor Boat & Yachting magazine and took another step towards a life-changing decision. A couple of adverts for shared ownership proved the tipping point. He could either buy a second-hand Sunseeker Manhattan 50 for £350,000 – £400,000 or go for a yacht share syndicate and enjoy a six-week share of a bigger boat for around £89,000. No contest – the deal seemed much better value and a lot more fun than an apartment.
On checking the contract Mark discovered Yacht Share Network would register him as the owner of an eighth of a beautiful Princess 62, giving him the peace of mind he wanted going into the future. He found the deal very straightforward and his share of the maintenance, about £19,000 a year, seemed very reasonable.
A wonderful life on board
As it turned out Mark uses the yacht a lot. If the other owners don’t need one of their weeks he can step in and buy it, or swap it with a week they’d like. While shared ownership does mean being flexible with the timing of your weeks on board, he’s fine with that.
Mark arranges his share how he likes it, steering clear of Mallorca during the peak holiday season in August and enjoying a few peak weeks between June and September. But the weather’s so good in Mallorca all year round that a festive Christmas trip is a pleasure. If the weather isn’t quite playing ball he uses the yacht as a particularly smart holiday apartment.
Mark spends about a grand a week on fuel when on board, exploring and cruising at around 18 knots. Together with the other shareholders he paid just £15,000 to have the exterior upholstery, carpets and navigation kit upgraded, a lot less than the £90,000 it’d cost as the lone owner. It isn’t unusual to collaborate like this because you’re in the deal with like-minded people who want to keep their shared vessel in top condition. And the ongoing costs are reassuringly low.
We’ll leave the last word to Mark, who said this to Motor Boat & Yachting magazine, “Having tried Yacht share I would not now consider outright ownership. I already spend as much time as I can on board so it really wouldn’t make any difference to me. I also believe it’s better for the boat to be used and looked after than sat in a marina doing nothing for half the year. I really think that the sharing economy is the future, even in the boating world.”
