Yacht Share is a simple concept. Multiple owners buy a single 10% share, or even multiple shares, of a brand new luxury yacht, and in turn gain a predetermined number of days to use the boat each year. Some owners choose to buy a larger stake so they can reserve a larger number of days throughout the year. When you buy into a yacht share, you sign on for a three-year ownership period, after which the boat will be sold to the next owner.
Whilst this is a simplified explanation, that’s all you really need to know since Sydney by Sail will take care of all the maintenance, detailing, and repairs as part of the Yacht Share agreement. More detail below.
With the rise of asset-sharing in the last few years, be it car, bike, or holiday home, it only makes sense that luxury yachts and boats should adopt a similar format so that they can be accessible to more people on a greater scale. Yacht Share is just that – economic, easy, and accessible ownership of luxury boats that you may otherwise not have room in the budget for.
Boat ownership comes with many costs and hassles including repairs, maintenance, berthing, and insurance. The inability to buy your own boat may not even be a financial decision. On top of costs, the hours required to clean, arrange trades, and perform regular and mandatory system checks to keep your boat safe and seaworthy is a time commitment that not many people can afford. That’s where we come in.
The time commitment required to manage and maintain your own yacht can be a burden unto itself. Cleaning and safety checks often mean that a ‘quick sail’ isn’t all that realistic and you can often spend more time doing this type of work than you spend sailing the harbour.
With our Yacht Share program, we make sure that the entire syndicate fleet is professionally maintained throughout the ownership period, focusing on detail and value conservation so that when the syndicate ends and the boat is sold to the next owner, you retain as much of the boat’s original value as possible.
The end result is that once you’ve bought a share, Sydney by Sail takes care of all the operational aspects involved in yacht ownership. This means that you get an all-inclusive walk-on, walk-off sailing experience every time. This service is perfect for your busy lifestyle, ensuring that you get the most out of your money when you buy into the Yacht Share program.
The number of days you get to sail as part of the Yacht Share syndicate depends on how much of a stake you’ve bought in the boat. You can choose to buy 10%, 20%, or 30% stake depending on how often you’d like to sail.
Each share entitles the owner to a minimum number of days per year to use the yacht:
10% share: 33 days per annum | 11 days per trimester, consisting of eight weekdays and three weekend days
20% share: 69 days per annum | 23 days per trimester, consisting of 17 weekdays and six weekend days
30% share: 105 days per annum | 35 days per trimester, consisting of 25 weekdays and 10 weekend days
Additional days are available on a ‘stand by’ basis, if the yacht hasn’t been booked by another owner. After a quick phone call to our office, you can go sailing on the days the boat is unbooked without using one of your allocated days.
At first thought, managing time allocation for up to 10 owners of a Yacht Share may sound like a nightmare, however with our 24/7 online booking system we’ve made the process as simple as possible for you to reserve your time on the harbour.
Yacht Share owners can book their days up to four months in advance and still have flexibility to change the booking (in bad weather situations, for example) without penalty or limitations.
You can access our online owner login portal all day, everyday for your convenience. Once you’ve booked in your day, it’s guaranteed to be reserved for you and your boat will be clean, fueled and ready to set sail by 9am sharp.
Overnight usage is popular, so you can book consecutive days as well. Standby days are also available for weekday and weekend bookings.
At the end of the Yacht Share ownership period, the boat will be sold onto a new owner. This ensures that the next yacht to be involved in the following syndicate program is brand new. When sold, the Yacht Share owners share in the net proceeds. This means that you will only have paid for the true depreciation of your boat, and our stringent management program ensures that each syndicated yacht retains the maximum resale value.
On average, our boats will depreciate by approximately 35% within the three-year ownership period. Due to our reputation in the sailing industry for excellent management and maintenance, syndicate yachts are usually sold in a short time frame.
Ending the ownership period doesn’t mean the end of your sailing experience with us however. Previous Yacht Share owners will have the option to sign on to the next syndicate boat, ahead of new buyers. Some of our boat share owners have been with us for 9 years over 3 different syndicate yachts.
After spending so much time on the harbour on their boat, it’s sometimes hard for Yacht Share owners to let go of their prized possession. Sometimes owners love their boat so much that they choose to purchase it outright after they’ve finished their Yacht Share experience. As an owner in the Yacht Share, you’ll be given the option to buy the syndicate yacht before we advertise it on the open market.
Much like maintenance and management, legal requirements and approvals for Yacht Share are all managed by Sydney by Sail. The Sydney By Sail Yacht Share Program meets strict legal requirements and has full approval from Roads and Maritime NSW.
The yacht is insured with fully comprehensive insurance and legal liability. The yacht is also registered with Roads and Maritime for recreational use.