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July 2007 Making sharing boats easier

| Boat share, collaborative consumption, fractional ownership, Press | October 10, 2012

Innovative website yours2share goes live this week, with a service to enable boat owners to find like-minded people with whom to share.

People have been sharing boats for a long time and there are a few well-established boat share brokers. yours2share is a new web site offering more wide-ranging and flexible options to help people find like-minded partners for the right boat share. As well as boat shares to buy, yours2share has some innovative ideas on sharing and plenty of guidance.

Boat shares can be bought from an existing syndicate or created by forming a new syndicate. This can be done through a boat share broker, boat share management company, or privately. There are also companies offering sophisticated ownership options, with guaranteed chartering or ownership/rental variations. yours2share brings all the options into one place, as it lists boat shares from commercial companies and private individuals.

Selling a share can be trickier. Shares can be sold through a boat share broker or privately. It could be a share from an existing syndicate or an individual may wish to sell a share in their own boat. Advertising boat shares isn’t easy because although there is the wide range of websites and magazines, few of them specialise in boat shares. Some even make it hard to find the boat shares they do have and they all feel like boat shares were an afterthought. So yours2share’s dedicated website is a welcome change.

Unless an owner uses a boat most of the time, and only live-aboards and some retirees really do this, then sharing ownership has major advantages: reducing costs substantially and/or enabling the purchase of a better boat. The key to sharing success is spending time ensuring that the partners are compatible. This is yours2share’s objective: matching like-minded partners to share any property in any location. The website provides tools and advice to help potential partners find each other and negotiate a suitable contract.

yours2share founder Sophie Garrett: “Boat sharing is one area of fractional ownership that is well established, but still not as wide-spread as one might think. My objective is to make it easier to buy and sell shares, and provide guidance and templates, so that the number of shared boats increases”.

Notes to Editors:

About yours2share

yours2share is a new web site for anyone buying or selling shares in valuable assets such as property, boats, aircraft, cars, jewellery. It allows people to search for boat shares and advertise for partners in existing or new sharing syndicate. Ads can be placed by private individuals or commercial agents, allowing people to see all the options in one place. The site includes lots of advice and legal guidance, and template contracts are available for use.

How it works

The first step is to post an ad explaining what is required, there is lots of guidance to help establish if potential partners are suitable, and template contracts to help with the legal side.

About fractional ownership

Fractional ownership is the term for more than one person owning the title of a boat or other valuable asset. Most fractional ownership contracts are provided by commercial boat brokers offering schemes in highly exclusive yachts. If they offer the type of yacht the buyer is looking for they are an ideal way to become a fractional owner. However, prior to the launch of yours2share, few other options existed for most potential fractional buyers.

Examples of fractional ownership include:

  • Sharing a yacht abroad – four partners each using it for three months a year
  • Sharing a yacht in country of residence – three partners each using it every third weekend

Advantages of fractional ownership include:

  • Huge reduction on purchase and running costs
  • Boat stays in better condition because it is used more often
  • Better security as the boat is empty less often
  • Better use of resources which is more environmentally friendly and socially conscious.

Contact: Sophie Garrett on +44 (0)208 133 1234

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