There is nothing quite like a beautiful day spent on the water aboard a luxurious yacht. If you’re passionate about being on the water and committed to owning your own boat but are concerned about getting the most from your investment, then fractional ownership of yachts offers a financially sound way for you to indulge your passions at a mere fraction of the cost. This method, by which the costs of ownership and operation are shared with a limited number of others, means you, too, could find yourself cruising in the yacht of your dreams without shouldering the full financial burden or being responsible for the never-ending maintenance and upkeep that come with full ownership.
In fact, fractional yacht ownership is on the rise, fueled in part by a change in consumer attitudes that have been a direct result of the recent economic downturn. One company offering a proven program to yachters unwilling to relinquish their passion is Signature Yacht Shares, a privately owned firm based in Destin, FL and operated by yacht industry veterans. Founded by Matthew Condon and the Galati brothers in 2007, it’s an affiliate of Galati Yacht Sales and is in the business of selling and professionally managing a fleet of fractionally shared yachts, including a 45-foot Viking, 58-foot Viking, 39-foot Tiara, 29-foot Regulator, 32-foot Regulator and 32-foot Praline.
With Signature Yacht Shares, an individual or group can buy into one of the company’s yachts for a fraction of the normal cost, gaining the benefits of owning a yacht without any of the headaches. The company manages all aspects of the yachting experience, including maintenance, repairs and scheduling. Signature Yacht’s clients enjoy unlimited use of the yachts, which are specially outfitted with state-of-the-art electronics and a long list of safety gear, such as automatic deployable life rafts and satellite tracking devices. Boaters with limited experience will appreciate the turnkey approach, while those with proven boating knowledge will marvel at the hassle-free, cost-effective experience afforded by the yacht share model.
After the acquisition cost, owners pay a fractional share of the total fixed operating costs, and all individual fuel and consumables. Similar to a homeowners’ association, Signature Yacht Shares provides a complete annual budget and collects these costs monthly. Fixed operating costs include captain, slip, cleaning, maintenance, insurance and other costs. Owners enjoy unlimited access to the yacht, subject to availability under the company’s innovative reservation system. A certain number of days per year are guaranteed, depending on the number of shares offered in the yacht.
One distinct advantage offered by fractional ownership is that a yacht is ready and waiting for the owner, instead of requiring various operational activities before setting sail. This hassle-free approach ensures a full and pleasant experience on every outing. As an article in a boating magazine recently concluded: “It’s hard to argue with the math.” It’s just a smarter way to own a luxury yacht.
For more information on Signature Yacht Shares, visit the Signature Yachts Shares website.