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  1. #1
    Join Date
    Nov 2019
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    91

    Default Are some yacht fraction syndicates disguised business?

    I was musing through the yacht share listings at a web site and encountered one middle of the road mid 30's ft example for sale that priced the 15 year old AWB whole boat at £32k. Not bad I thought as it is listed & highlighted as a discounted asking price for a quick sale.

    Then I got to the running costs for the syndicate = £300 per month per 1/8th share = total annual syndicate costs of £28,800 p/a = ouch!

    Maybe Alcudia Marina in Mallorca is the Salterns of the western med but come on £28k per year to run a very average yacht, what am I overlooking?
    Last edited by vociferousMeldrew; 26-11-19 at 21:51.

  2. #2
    Join Date
    Dec 2001
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    Nic 345, Tamar river, Devon
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    2,339

    Default Re: Are some yacht fraction syndicates disguised business?

    About half of that cost is the marina berth I suspect. The rest is easily spent if a professional is paid to do maintenance and perhaps clean between owners. I'm not surprised at the figure but it is a very expensive place to keep a boat.

    Yoda

  3. #3
    Join Date
    Jan 2003
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    North West
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    647

    Default Re: Are some yacht fraction syndicates disguised business?

    I was looking at the same website the other day and made the exact same observation (Bavaria 36 Musketeer?) Seems to me that the boats with super expensive running costs are all Mallorca based so I looked up one of the Alcudia marinas (Bonaire) and it was about 7500 euro for a birth and 320 for a lift. 2k for annual costs such as insurance, antifoul, and engine servicing. 4k for the replacement gear fund which should keep such a boat in very fine fettle indeed. 350 for sea help. Call that lot 15k just leaves the fee for the management support which I don't know about, 5k? Still leaves 8k on the table.

    Then again I know someone who operates a 40 ft charter yacht out of Lymington. He keeps it tip top and reckons 20k pa running costs without a management company so maybe?

  4. #4
    Join Date
    Nov 2019
    Posts
    91

    Default Re: Are some yacht fraction syndicates disguised business?

    Quote Originally Posted by yoda View Post
    About half of that cost is the marina berth I suspect. The rest is easily spent if a professional is paid to do maintenance and perhaps clean between owners. I'm not surprised at the figure but it is a very expensive place to keep a boat.
    £14k to keep a 36 footer in a top league Spanish marina, wow how things have changed.

    I can see that for demanding clients who expect turn-key yachting the figures asked still represent a reasonable alternative to med chartering, but at the end of the day it is still just a 14 year old shallow keel Bavaria 36.

  5. #5
    Join Date
    Nov 2019
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    91

    Default Re: Are some yacht fraction syndicates disguised business?

    Quote Originally Posted by ridgy View Post
    I was looking at the same website the other day and made the exact same observation (Bavaria 36 Musketeer?) Seems to me that the boats with super expensive running costs are all Mallorca based so I looked up one of the Alcudia marinas (Bonaire) and it was about 7500 euro for a birth and 320 for a lift. 2k for annual costs such as insurance, antifoul, and engine servicing. 4k for the replacement gear fund which should keep such a boat in very fine fettle indeed. 350 for sea help. Call that lot 15k just leaves the fee for the management support which I don't know about, 5k?
    Yes Musketeer.

    Like you I suspect a management charge lurks in the £28.8k annual running costs. For some it will represent a safe incremental step onwards from the easy entry options like FlexiSail, each to his own. I saw some much better options listed for the more experienced fractional owner, those options with cheaper running costs are in the Eastern Med.

  6. #6
    Join Date
    Jul 2002
    Location
    Farnham, Surrey
    Posts
    21,519

    Default Re: Are some yacht fraction syndicates disguised business?

    Quote Originally Posted by ridgy View Post
    I was looking at the same website the other day and made the exact same observation (Bavaria 36 Musketeer?) Seems to me that the boats with super expensive running costs are all Mallorca based so I looked up one of the Alcudia marinas (Bonaire) and it was about 7500 euro for a birth and 320 for a lift. 2k for annual costs such as insurance, antifoul, and engine servicing. 4k for the replacement gear fund which should keep such a boat in very fine fettle indeed. 350 for sea help. Call that lot 15k just leaves the fee for the management support which I don't know about, 5k? Still leaves 8k on the table.

    Then again I know someone who operates a 40 ft charter yacht out of Lymington. He keeps it tip top and reckons 20k pa running costs without a management company so maybe?
    For Mallorca berths and running costs you’re well light of the current figures. A marina fee of €14-16k for a 12 metre boat would not be unusual. Servicing and maintenance can have prices to match.
    (I work out of Palma occasionally on boats kept in Palma or Puerto Portals.)
    Semper aliud

  7. #7
    Join Date
    Jan 2003
    Location
    North West
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    647

    Default Re: Are some yacht fraction syndicates disguised business?

    http://www.marinadebonaire.com/ima/T...0718103027.pdf

    12m berth looks like 6356 plus vat but I don't speak Spanish so maybe that table is for something else.

  8. #8
    Join Date
    Jul 2004
    Location
    Dorset & Mallorca
    Posts
    265

    Default Re: Are some yacht fraction syndicates disguised business?

    In Alcudia currently for 35Ft 500 euro + 21 %/month including everything so if boat been there for 12 + months a bit less for 32 Ft. There has been/is an attempted price hike going on following a failed attempt to become the "superyacht base" of NE Balearics so much turmoil all round and I have heard of 8+K inc for a 33Ft in last month a lot of boats have left so loads of gaps despite having to go on the "waiting list." Nowhere near that sort of price.
    Bonaire round the corner was regarded as the more expensive option however fellow last week reckoned 2/3 of the price of the new Alcudia rate for 33 Ft but they do have a waiting list.
    Its not a cheap place if you want things done properly (& on time) but by no means super yacht prices and some things work out surprisingly inexpensive.
    Draw your conclusions

  9. #9
    Join Date
    Jul 2002
    Location
    Farnham, Surrey
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    21,519

    Default Re: Are some yacht fraction syndicates disguised business?

    Quote Originally Posted by choppy View Post
    In Alcudia currently for 35Ft 500 euro + 21 %/month including everything so if boat been there for 12 + months a bit less for 32 Ft. There has been/is an attempted price hike going on following a failed attempt to become the "superyacht base" of NE Balearics so much turmoil all round and I have heard of 8+K inc for a 33Ft in last month a lot of boats have left so loads of gaps despite having to go on the "waiting list." Nowhere near that sort of price.
    Bonaire round the corner was regarded as the more expensive option however fellow last week reckoned 2/3 of the price of the new Alcudia rate for 33 Ft but they do have a waiting list.
    Its not a cheap place if you want things done properly (& on time) but by no means super yacht prices and some things work out surprisingly inexpensive.
    Draw your conclusions
    All true, but the OP was about unrealistic costs and if the boat is in Puerto Portals or Palma etc the costs are much higher and more easily explained.
    Semper aliud

  10. #10
    Join Date
    Jan 2003
    Location
    North West
    Posts
    647

    Default Re: Are some yacht fraction syndicates disguised business?

    Now down to 3500 ono...

    https://yacht-fractions.co.uk/boat/1272/

    Putting the purchase price to one side which you will mostly get back, if you can use the full 6 weeks then the equivalent of £600/week charter is actually a pretty good deal for the area.

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