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Case study in fractional ownership: yacht share in Southampton

| Boat share, Case studies | October 16, 2012

Nick Fieldhouse, a solicitor from Redhill in Surrey, didn’t realise that yours2share really doesn’t charge commission and when he’d completed the sale of his share in this unique Italian racing cruiser, the Lady Emma, he emailed yours2share to find how much he owed them. Sophie Garrett explained that there was no comission.

In January 2007, Nick had simply entered “boat share” into Google and found the yours2share website. Shortly afterwards, he’s posted the ad:

yacht-share-lady-emmaLady Emma 42 Foot Racing Cruiser, lying Itchen, Southampton

Just refurbished, lovely 20 year old one off Italian racing cruiser based Itchen River near Southampton in Hampshire.

On water side berth with professionally managed friendly syndicate.

One eighth share for sale, which gives approximately two weeks plus some weekends sailing each year. 2 weeks already booked for this summer other weekends available.

Annual running cost per share is approx £650.

Nick: “yours2share was easy to use and saved me money because there is no commission. I’d certainly recommend it”

Nick was selling his share in the Lady Emma because he didn’t have enough time to sail her, and he also advertised her in several places. yours2share provided his only response when Phil Key, a local businessman from Radwell in Bedfordshire replied through yours2share’s mailbox leading directly to the sale.

This is Phil’s first boat share. He had been sailing for about five years, always chartering a boat or a berth, which is was proving expensive for several trips a year, plus he wanted to increase his sailing time. Phil had read about boat sharing in the yachting press and had also investigated Sailtime, but this seemed more expensive. Searching for “boat share” led him to yours2share and Nick Fieldhouse’s advert for the Lady Emma. An exchange of emails was followed by a visit to see the boat and a price was agreed.

The syndicate had been running for a couple of years and comprises eight people. Unusually one person holds a 50% share and the remaining seven owners each hold a 1/14th share. This gives Phil the right to sail the yacht for 30 days a year: eight days in each of the spring, summer and winter seasons and six days in the winter.

Phil: “The boat is also chartered out when no-one is using it, which helps pay for the mooring costs. This makes it super reasonable!”

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