There are many high-net-worth individuals who could buy a yacht tomorrow. But owning a private yacht is only worthwhile if enough time can be spent on board. For those busy people who still want to enjoy the experience of owning a yacht, shared ownership is one of the best solutions.
Princess Motor Yacht Sales’ solution is the shared ownership programme YachtQuarters. Already the go-to option for more than 12 owners, including the prospective owner of the final share of a luxury 20-metre Princess 68, here is what’s involved:
Ownership is granted quickly and easily
For an owner looking to be cruising the Med as soon as spring 2022, the last remaining share of the Princess 68 superyacht currently available is the ideal solution. Currently berthed in Port Adriano, the yacht is ready to go with her recently-updated factory-fresh interior, toy store and brand-new Williams Jet tender.
After signing a co-ownership plan with Princess Motor Yacht Sales, the only decision remaining is which four weeks of the year the owner would like to spend privately cruising the Mediterranean. Princess Motor Yacht Sales has devised a rotational annual calendar to ensure fair usage and each owner is guarenteed one week on board during the height of summer between July and August.
“Shared ownership is made for people whose time is valuable,” says Joshua Cleaver, YachtQuarters sales manager. “Having considerable work commitments, I could not see myself being able to use a boat for more than a few weeks per year,” says a YachtQuarters client. “And so shared ownership has been the perfect option,” they add.
The cruising itineraries are one-of-a-kind
Through the owner’s dedicated yacht manager, each travel itinerary is customised to make the most of the area. The Princess 68 yacht is set to cruise anywhere from Mallorca, Ibiza, Menorca and Formentera to the French and Italian Rivieras; and with the Princess concierge service on hand, owners are given exclusive cruising itineraries, passage plans and berthing options. “The concierge can plan anything our owners need. With each yacht assigned a yacht manager, the service really is above and beyond the normal owner experience to ensure that those on board can enjoy their time at sea,” Cleaver explains. “The concierge service is ideal. Princess Motor Yacht Sales takes care of every aspect of my time on board,” adds one owner. All of these services and the yacht’s warranty, except for fuel and consumables, is included in the price.
The cost savings are high
YachtQuarters vows to give its owners full transparency into the costs of their yacht and guarantees no unexpected bills. The cost of a week of shared ownership with YachtQuarters is approximately 60% of the price of chartering a similar yacht in the Balearic Islands. “If an owner is looking to use the boat for more than two weeks per year, it is a considerable saving compared to charter,” Cleaver explains.
The last remaining share in the new Princess 68 yacht is £275,000 for four years of ownership. An additional fixed cost of £47,000 per year covers everything from the yacht’s warranty to berthing, water toys and crew, excluding any consumables. “The annual cost of running the boat is shared with others and when I turn up for my weeks on board, the boat is ready and waiting for me and I don’t waste precious time seeing to repairs and maintenance,” the owner adds. The cost reflects the high level of service from Princess and the peace of mind that comes with knowing that the operational costs of having a yacht are all taken care of through a five-star yacht ownership programme.
Outright ownership is available
After completing the full four-year programme, individual owners can continue with new shares, become outright owners of their yacht, or opt-out and sell their share if they wish. “At the end of the period, owners have the option either to dissolve the ownership structure and receive the proceeds of the sale in accordance with their shareholding, or continue with a new yacht,” Cleaver says. "However, there hasn't yet been a client who has wanted to leave our shared ownership boats," he adds.
“The experience during this first year of ownership has been wonderful,” says a recent YachtQuarters owner. To find out more about how to become an owner of the Princess 68 currently available, or any of the other Princess Motor Yacht Sales fleet, contact Contact Joshua Cleaver, YachtQuarters sales manager, on +44 (0)1489 557755 or by email firstname.lastname@example.org.