Yacht Share Perth

Hi All,

I am gauging interest if anyone wants to join a yacht share in Perth, or has a yacht they would like to share out. Looking at yachts 30-50ft range, ideally around 35ft.

I have a few thoughts on how this will work but happy to have a beer or win's and discuss terms, and make sure personalities mesh for a good ongoing relationship. Thoughts below but nothing set in stone.

Aiming for 1-2 other interested parties. With $10k investment and $100-200ea a month that goes into a kitty that covers insurance, registration, repairs, etc possibly more if we chose to put the yacht in a marina.

Preferably the Yacht would be moored in mangles bay or Port Coogee/ or Fremantle marina. Kitty would be in a joint account that requires two to sign and where possible, things like insurance, marina fees, etc would be a direct debit.

I am not looking for a club racer, but a cruiser that can do weekends to Rotto and the occasional cruise up to the Abrolhos, I have a couple of yachts already in mind that meet this spec.

To keep things fair we would write up a annual maintenance schedule and divide it up. Where works are beyond our skill sets we would either decide to jointly learn and take the risk, or pay for a pro.

At the point that either party wants to exit the partnership, the alternate party has first rights to buy the remaining share at original cost base, otherwise the share will be offered online to the next highest bidder.

Splitting time would be done in a joint online calendar where either party would block out time they intend to use the yacht or perform maintenance. Parties would get alternate weeks on who has first preference but if the preferred party isn't using the yacht, then the secondary party can still use the yacht. And on agreement longer durations can be agreed between parties for longer trips. I expect this to be very flexible and just be a call or text to keep each other up to date with what's going on.

I am not looking at this arrangement to cut costs or get out of maintenance. My motivation is I have a young family and can't see me using the yacht more than once or twice a month, I've owned yachts in the past and fully aware of the time it takes to maintain them to a decent standard, and don't want to spend the little time I do get out on the water purely doing doing boat works. That said, I do enjoy doing boat projects, but I also enjoy sailing. So keen to find someone else in a similar situation who would like to share the load and will get value out of such a relationship, and when doing longer sails up to say the Abrolhos would be like to share in longer trips.

If you're interested, give me a call on: zero four 21 852 two 88

Thanks,
Jake

Thanks R13, I had read that post in the past and agree with the points, the key to it working, like anything is to make sure you go into it with the right people. I have done a private boat share before, and it worked out brilliantly. I was building a house at the time so low on cash, but didn't want sacrifice on quality of what I bought. This allowed me to get a lot more boat for my dollar, we jointly did all the maintenance which made the process much more enjoyable, and then when the other party wanted to exit I bought out their share, making it a quick and easy sale for them. There was the question around damages, and this is what you have insurance for. If it was something breaking due to maintenance or a third party at fault, then the excess or repair comes out of the kitty eg. an engine cutting out as you are leaving the marina and the boat subsequently drifting into the rocks, or another boat hitting you when moored/ anchored.
But if the damage was due to the negligence of the skipper, for the example they hit another boat while coming into a mooring field, then they pay the excess or the repair. This is where you need an honest partnership so when things go wrong, they don't turn into arguments. Both examples above could be easily lied about to get out of payment.
The other real risk is one party taking advantage, not doing their share of maintenance, not cleaning the boat after use, not communicating when they are taking the boat. Again this is all mitigated quite simply by working with good honest people, but if it was th eventuate, this is why you set up the rules beforehand, then after 3 warnings I would simply buy out their share and we would part ways. Having a low number of people involved reduces the complexity of the relationship and makes it easier to manage as a partnership.

I am still yet to get any phone calls. I was hoping another yacht owner who was thinking about selling or downsizing might jump on the opportunity but so far, no.

Might have to go about this in a different manner, just buy a yacht out right and then advertise a half share for sale, might find more interest in those searching to buy than those who haunt this forum.