As all yacht owners know, many yachts sit in the marina, unused, for much of the year yet they still cost us regardless of whether they are being used or not – So what are we to do?
Until recently there has not been another real option that gives us the freedom of ownership and sailing, but reduces our yearly costs? We all buy our yachts with the aim of enjoying them with our families and friends, exploring beautiful anchorages and doing some great sailing. So, the season comes and we spend that time getting ready for extended periods aboard, seeing many different countries, and a summer of just cruising. But then the real world kicks in – time available out the office decreases, the family want other holidays also, not just sailing, and slowly your 3 month summer of sailing turns into 3 weeks with the possibility of maybe just a couple more weeks aboard early and late season. The reality is another season will pass with you getting to the boat for 5-6 weeks and her spending the rest of the season tucked up in the marina unused but still costing money.
How does one enjoy the great sailing holidays you dream of, on your own yacht, but at the same time reduce the overall running cost obligations, while at the same time taking away the horrid jobs and the time consuming tasks such as wash downs, clearing up after use, removing the rubbish and getting the yacht to where you want it to be- all time that could be spent enjoying a wonderful cruise. Oh, and all this is on the yacht of your wishes and desires? Is there an answer?
Yes, there is a simple answer and it is a big yes.
S6 Marine have created a shared ownership programme that resolves the very issue. So, how does it work? Well here is the answer as a summary.
You choose a ¼ or a ½ share of the yacht model that you want to be part of. Today we have the CNB 66 and the CNB 76, and Sunreef 60 catamaran but at some point in the near future we will be able to offer other yachts from Sunreef, Y-Yachts and Southern Winds or even Swan.
We build a small group of like minded owners ready to share ownership of the yacht, and between the owners you decide on configuration, options and water-toys. Once launched, you agree with the other shared owners the basic principles of where the yacht is to cruise and if the yacht will do a single Mediterranean season each year or perhaps she will embark on the occasional dual season with Caribbean and transatlantic crossings.
As the yacht is fully managed and crewed, the yacht will be ready for you to sail away and enjoy as if it is solely yours. Your personal items that you have left aboard will be just as if you left them a hour ago. However, the positioning, delivery, provisioning, cleaning, and right down to the yacht and port paperwork are all taken care of along with anything else that the yacht needs to be able to fulfil your holiday and sailing adventure. This leaves you to focus your energy on enjoying the sailing, anchorages and spending time with your friends and family.
So, what are the benefits of this sort of scheme? To start with, as you are going to hold the yacht in a Company, with all the shareholders part of that Company, there is a saving on the VAT payment which is not a small sum.
You are allocated 5 weeks per year and the option to buy more weeks if needed on an equitable basis with the other shareholders. The weeks are shared out amicably and, of course, there is rotation on booking these weeks to keep it fair. There is also the option to swap or exchange weeks as you, the shared owners, agree. There is a small fee towards running costs charged on a per week basis and you are responsible for your own use of fuel, berthing, food & drink while aboard. The costs will change if you load up running or repair costs or have any special personal costs. There are also 4 weeks per year for the purpose of renting out as charter weeks, to help offset the yearly costs and give flexibility to the programme. As a shareholder, however, you can buy these extra weeks if you wish.
The rest of the care and repair tasks of such a yacht are now just plain sailing with the management company taking care of the admin, accounting, banking, location scheduling, repairs and services, crew and payroll and all of the other general yacht tasks and care. The management company also takes care of the insurance, yearly repairs, services and any renovations. The yearly running and service charge costs are covered equally by each ¼ share and this comes from the shared owners via their allocated week’s fee and any charter income.
The seasonal full time crew couple will take care of the yacht while she is in season and this covers all the tasks that would otherwise impose on your time sailing and enjoying her; the preparation, the paperwork, the provisioning, the fuelling, the relocations and delivery passages and so on. While aboard, you can choose to do as much or as little as you like; take the helm, trim the sails, even do the navigation. Whatever the day to day task is, however, you can rely on the fact it will be done every time by the crew to superyacht standards. Out of season the yacht will be prepped for winter and any repairs that are needed will be completed in this time. If she is to do the Caribbean season then she is made ready for this season and transported over, ready for her tropical adventures.
All you need to do as one of the owners in the shared programme is confirm your weeks, pay your weekly fees and then book your holiday. It is as simple as that!
With this scheme, you are able to remove many, if not all, of the hassles and most of the costs associated with owning a yacht, and end up with what really you wanted in the first place, namely to go sailing. The shared ownership scheme offers a simple solution that has been really well thought out and implemented. Is there a catch, you ask?
Well, outside the fact, as you would expect, you need to accept the programme guidelines, so far none have been seen, and the programme is already up and running. As well as this, if you ever decided, for whatever reason, that you wanted to sell your share then that’s fine too!
So see you on the water soon!
If you want to know more about the shared ownership programme then do contact us and a member of the team will be in touch.
Let us know if you prefer a telephone call or zoom and we will arrange it at your time and convenience.