The advantages of owning a yacht come with some obvious costs and responsibilities, too. When you’re the sole owner, it’s up to you to handle everything that comes your way. One solution to what can be a substantial burden for some people is co-own a vessel and spread the costs and responsibilities around. Sometimes, however, one member of the group takes on a larger share of the work. This inequality of effort can be okay for a time but sometimes it can raise its head as an issue in the partnership. A new product being offered by Dream Yachts Sales and Ownership, called Dream Fractional, can offer a way out of the problems that can arise from joint ownership.
With the Dream Fractional program, those interested in owning can purchase a share in a boat. The costs and responsibilities are handled by Dream Yacht as the company explains in a recent press release: “The program offers participants the unique opportunity to share ownership with other like-minded individuals and have Dream Yacht fully manage the insurance, maintenance, cleaning, charter bookings, financials, and more. Fractional owners also enjoy the attractive benefit of access to sail aboard similar yachts in destinations all around the world.
“The Dream Fractional program offers 5 equal shares in a yacht, reducing the cost to just 20% of the yacht selling price. As the owner of one of the 5 shares, participants have legal titled ownership of 20% of the yacht, unlike timeshares that provide members only a leased interest in the property. The yacht’s monthly expenses are shared between the owners, as is the yacht’s charter rental income, which helps offset expenses. Each share also allows the owner to go sailing up to 5 weeks per year of which 2 can be used on sister yachts in 50+ destinations all around the world.
“At the end of the program, Dream Yacht manages the entire resale process, from finding buyers to coordinating offers to the completed sale – with owners given priority should any of them wish to purchase the yacht themselves. After the sale, each owner then recovers their share of the final selling price.”
“‘Between the initial purchase price savings realized by utilizing a yacht sharing model, and the quarterly charter revenue income, Dream Fractional makes owning a yacht much more attainable. Add to this equation the boat’s sale at the end of the program at an average of 50-55% of the original price, and the numbers become very attractive. For those that enjoy charter vacations, the reciprocal sailing in amazing destinations around the world makes it an easy decision,’ says Dan Lockyer, Chief Revenue Officer for Dream Yacht.
“Sailors and adventurers who already enjoy one or more yacht charter vacations per year are particularly well-suited for the program, allowing them charter more frequently at a very low cost. For business owners, the 5 weeks of boat usage can be an inexpensive option for employee incentives or entertaining clients. If the shares are available, owners have the option to purchase more than one, increasing their boat usage time to up to 10 weeks per year.”
This approach might fit for those who want to have access to a boat and to go voyaging, but don’t have the time or resources to purchase and manage a vessel on their own and who might want a systematic approach to joint boat ownership. More info is available at the Dream Yacht web site.
