Shareboats
Shareboats bring together like-minded people who appreciate life onboard and the associated lifestyle of boat ownership without the hassle, responsibilities or the prohibitive cash outlays associated with single yacht ownership.
Benefits of a shareboat:
- The capital outlay is reduced to 10% of the cost of the yacht, although
your utilisation could easily be the same as that of a sole owner.
- Research shows that most owners use their yachts for only a few
weeks per year.
- The proper maintenance of a yacht requires technical skills.
- Reduces the risk of holding an expensive, underutilised asset.
- Eliminates all the typical difficulties of preparing the yacht for
quick and easy use.
Shareboats are the easiest way to own boats around the world.
Shareboats are a structure whereby a group of individuals jointly acquire a high-value asset. Each individual acquires part ownership, giving them the right of use of such asset as an owner. The asset is managed by a skilled management company on behalf of the owners, providing a cost-effective, “hassle-free”, well maintained and fun-filled investment.
Purchasing a share in a boat is a sensible investment with substantially lower initial capital requirements, minimal costs toward operating expenses and when and if the time comes that you wish to sell the share, it’s relatively quick and easy. There are over 50 shareholders in our various tried and tested ownership schemes.
PYSA, a company owned by David Abromowitz, Peter Bacon & Howard Godfrey, has an exclusive agreement with International Yacht Brokers, David Abromowitz & Associates, to market and sell the shares. DA&A have concluded almost all the transactions since the inception of the Shareboats program in 2007.
Traditional boat ownership is a substantial investment. Furthermore, the operating costs, on an annual basis are significant. (Approximately 10% of purchase price)
Boat ownership requires a significant initial investment together with a high annual operating cost. Boat owners traditionally make use of their boats for an estimated 28 days a year. Therefore, the Shareboats ownership concept provides you with all the benefits of traditional yacht ownership for the time you have available, at a fraction of the cost and the program is flexible to ensure that the total cost of ownership is aligned to your use of the boat.
Ownership of the yacht
The yacht is owned by a Fractional Ownership Company viz “Princess One (Pty) Ltd”. Each investor is a shareholder of Princess One (Pty) Ltd.
An individual can own more than one share. Manco manages all the affairs of Princess One (Pty) Ltd and is also contracted to provide management services for the yacht.
Each shareholder pays a monthly management fee for the upkeep and management of the yacht.