Syndicates vs Partnerships

8 years ago
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FelixdeCat
FelixdeCat
NSW
234 posts
NSW, 234 posts
11 Aug 2017 1:27pm
Wanting to get some thoughts on this matter because it has been on my mind a lot.

There are waiting lists for moorings in most places, whilst yachts sit unused on beautiful sunny days. Some look well maintained whilst others look dirty and unloved. Either situation is sad for different reasons. The cost of boating is prohibitive for many and these factors gives rise to timeshare/syndicates in vessels which can also be expensive and tricky. The new "owners" have to commit to the investment and sell their share when they move on, much like selling the boat itself. It makes buying outright VS buying a share a compromise that has to be weighed up.

Which makes me wonder if there's another way to solve some of these issues. We have all seen the rise of things like Uber and AirBnB in terms of making full use of things that already exist. In other words getting the most value out of something in a win-win kind of way. Kind of like when two kids both want the same orange. The mother cuts the orange in half only to find out that one kid wants the juice and the other wants the zest. Instead of having half they could have had everything they needed if they had only asked the question and abandoned their assumptions.

So do owners ever consider finding other people to share a boat with, without asking them to make an investment but rather just make a contribution to the insurance, rego and maintenance for the year, in exchange for commensurate usage of the yacht? I know for sure I will only use mine maybe 1 weekend a month in the colder parts of the year and 2 per month in the warmer...... Just seems to be a bit of a waste all these boats bobbing around with nowhere to go. We all know how much effort goes into maintenance and holding nature at bay. But we seem to carry this burden alone most of the time.

I think the concept of having to "own" everything we use could be a bit more flexible. Obviously with yachts there is a skill and complexity issue but this can be overcome. A good example can be seen when I putt along in my tender past several yachts of very similar size and design, all of them looking a little tatty. It seems obvious that 2 or 3 of these owners could share one yacht and it would be in perfect condition and regularly used.

Thoughts?
Trek
Trek
NSW
1213 posts
NSW, 1213 posts
11 Aug 2017 3:25pm
So true Felix. There was a company in Sydney that kind of was solving that. If your boat was up to standard they would put it on their books and people could come along and hire it. But it makes the boat into a commodity then and those of us who love our boats and their personalities could never do that. Also losing any of the personal nick knacks on board would be a worry.
Jlobel
Jlobel
NSW
17 posts
NSW, 17 posts
11 Aug 2017 3:56pm
Very true, most of us that like our boats, are highly personalised and they became to an extent, part of us. Could not share a boat even with my son, different people different ideas. On the other hand, all these boats sitting on mornings boning around forever would be better of even with an occasional visitor.
This is one of the reasons some people say that god is cruel, gives steak to people with no teeth.
Fair winds
FreeRadical
FreeRadical
WA
855 posts
WA, 855 posts
11 Aug 2017 3:14pm
I'm in my second small private syndicate and it suits me perfectly. I part own a boat that I couldn't justify on my own, not just financially, but to my family who aren't big into sailing, but when they do come along, it's a nice comfortable boat for them to enjoy. I think with a boat, you need skin in the game for it to be successfully shared; with the boat used and looked after as it should be.

I'm quite reserved and not big into socialising, I get plenty of my own time on the boat which I love, but the social side of the syndicate is also probably good for me, otherwise I think it would get pretty lonely just being me and the boat would end like those so many broken dreams, unloved and unused.


Toph
Toph
WA
1886 posts
WA, 1886 posts
11 Aug 2017 9:13pm
I have a stinker (Mustang 3200LE) back at home which has been on the market for sometime. The market is slow at the moment for the particular price range but up until now (well soon, not just yet) I wasn't prepared to give it away.
I am considering a private style of shared ownership just to release some capital. I'm about to bring a 47 footer into Perth and don't want to be paying two lots of mooring, rego, insurance fees...
A syndicate would work well for me...
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