Posted: 07 October 2005 at 12:15pm | IP Logged

Given the costs financially as well as the costs in terms of time commitments, I'm interested for personal reasons and for discussions among some of us here at BoatUS, in learning:

        1) Are there are any people out there who have fractional ownership in a boat or a type of timeshare in a boat; if there are, what their thoughts of them are, esp. the differences between fractional ownership and timeshare?

        2) What's out there in the way of fractional ownerships and timeshares?  What's good about them and what's bad?

        3) If you have had experience with a shared boat, are there any special arrangements you'd advise? (i.e. set up the boat as a Trust, have a written agreement that has a set term of partnership, etc)   What's worked for you?  What hasn't worked?

        4) Has a shared boat arrangement helped keep you in boating?   

Feel free to post your thoughts or email me: tparrow@boatus.com      

Thank you!

Posted: 10 October 2005 at 9:42am | IP Logged

I considered it, but passed.  For me, it seemed like a good "pre-starter boat" but it led me to a strategic dead end. If I enjoyed it, I would want my own boat and would regret being locked into a long-term membership; and if I did not enjoy it, I would regret beinglocked into a long-term membership!

So for me, the optimum program would provide the following:

1.  A duration of one or two seasons.  At that point you either want out or up.

2.  I don't need multiple boat types and locations. 

3.  Shared owners either need a set "package" of accessories (tubes, skis, ropes, electronics) or they need a secure storage facility at the marina where they can keep their own stuff.  It also would help if there was a staff to pre-load the boat with the owner's stuff.

Lastly, a shared boat program needs to educate people on the true cost of boat ownership.  As a new boat owner, I'm just getting used to the concept of spending $4,000+ per year on storage, maintenance and repair.  Winterizing is not optional, and if you are not a do-it-yourselfer, you will pay a lot.  This is a benefit of a shared boat program that is undervalued and not well marketed.  It still would not have changed my decision, because I enjoy doing stuff myself.  But these memberships all look expensive if you are not fully considering the year-round ownership cost.

Posted: 13 October 2005 at 1:38pm | IP Logged

That demonstrates how important it is to not go into that kind of arrangement if you allow yourself to become attached to the boat/airplane/etc.

When my son first got his private pilots license, he took one of the club's planes up.  It was October and the weather was unpredicatble so his dad had told him not to go flying.  Of course, at 17 he knew better and snuck off to the airfield.  Sure enough a cold front moved in and he couldn't return to the airport.  Some one finally talked him into a crop dusting airport with a better ceiling.  He had to spend the night in the cold plane and fly back the next day.....after calling in where he was and why.  The flying club almost expelled him.  After that he realized he didn't know much after all.  20 yrs later he a commercial, chief pilot flying out of Nome, Alaska.

Posted: 21 October 2005 at 12:16pm | IP Logged

I have been looking into an Australian based company called The Cruising Club (www.thecruisingclub.com) that just opened recently here in the Dallas, Texas Area (Pier 121 Marina on Lake Lewisville).  I love the whole idea of Fractional Boat Ownership and most interested in looking into one of their franchises that will be offered here in America soon.  Has anyone else heard of this company?  Dealt with them?

Their first boat on Lake Lewisville is a Chris Craft and my wife and I will be taking a closer look at their operation and this boat this weekend. 

Posted: 03 April 2007 at 8:04pm | IP Logged

Hi All,,

I was in a version of time sharing on a 43' Carver at Elliott Bay Marina in Seattle.  You paid $500 a month and could take the boat for 8 days each quarter, total 32 days a year.  Good deal, but we like Florida/Bahamas in the winter, so we looked for a boat in Florida. 

We now have a 1/4 share of a 40' Mainship.  Paid $45K and 1/4 of the expenses.  My partners live in Tampa, so does the boat.  Since they only use it in the summer, and we only use it in winter, it's a great setup.  My partners are great guys!  Met them on the internet.  We have taken it to Key West and the Bahamas for 30-45 days each winter, and we love it. 

I am now looking for another boat in Miami, so it's not a 3 day trip to the Bahamas each way!  If anyone knows of a boat share for sale, please let me know.  Randy Smith, randysmith@westernequities.com

Posted: 31 January 2008 at 6:53pm | IP Logged

I have started researching this area again.  I am interested in any new reactions.  In particular, I am interested in people who have:

1.  Joined a fractional sailing program.

2.  Joined a seasonal lease program - fixed fee, you get so many days per year.

3.  Shared boat ownership with other people but without a company involved - e.g. shared ownership.

My major interest is in sailing charters.  I am also trying to get a feel of the length vs. dollar equation.  How big a boat for how many months for how much per year.

Thanks in advance

Posted: 09 March 2009 at 6:18pm | IP Logged

As we just launched an all new Website and added powerboats to our fleet I thought I would chime in here.

To answer your initial questions Terri:

1.       The main difference between true fractional ownership (we don’t offer this) and “timeshare” is in who owns the equity of the boat, and who makes decisions regarding everything from the slip location to the color of the sheets. My experience with multiple equity owners has been that it is difficult if not impossible to get everyone to agree. In a “timeshare” model the single boat owner makes these decisions, and “members” of the boat can decide if they want to participate or not based on the owners decisions.

2.       Obviously I’m biased, but WindPath Fractional Yachting is the best thing in boating since fiberglass. That being said there are more and more options out there for fractional yachting now.

3.       All these things are very important and if not handled professionally can quickly set partners against each other. Use a proven agreement, have great insurance, make sure all your partners are competent boaters, clearly define how scheduling works, clearly define maintenance and cleaning, what about fuel costs, and the list goes on…

4.       Absolutely!

Visit http://www.WindPath.com for more information on Fractional Yachting.

Posted: 09 July 2009 at 12:34am | IP Logged

I have set up a fractional ownership program for performance boat enthusiasts.  Check out www.americanfractionalownership.com

Posted: 31 December 2009 at 1:39pm | IP Logged

I wanted to find possible partners to co-own a boat here in Honolulu, then found a great deal on my current, older wooden sloop. I'm considering the co-ownership arrangement with this boat, because I'd like others to share the maintenance and to have reliable sailing buddies to go with.

I think this last point is reason enough, because I've always seen underused boats and often those owners bemoan the difficulty of getting people to show up when they want to go sailing. I've had my problems with people who balk when you say "we'll go Saturday morning if the winds cooperate", then when you call and say you're on your way to the marina, they say they've gotten involved in something so they'll have to pass. An owner is more likely to go because they've self-selected as an interested sailor.

Keith Brilhart, Honolulu