Going for discount yachts is one great deal to enjoy the luxury of sailing at a much more affordable rate. Why? It is because you get to pay only a fraction of the cost of the yacht since you share its ownership with other individuals. Those who own yachts, on the other hand, usually work with charter brokers so that they get to have their yachts rented at times when they are not using them. This is definitely better than the yachts lying in the docks like empty hotel rooms.
This kind of ownership sharing, sometimes referred as fractional ownership, is usually done by a broker or a yacht charter management firm. The firm brings together a group of people who are interested in owning a yacht. This firm is responsible for acquiring new vessels below market value, or in assist individuals with buying a yacht under their fractional program.
The net cost of a yacht is split among the fractional owners, as well as the annual operating expenses to manage the yacht. These expenses include insurance, salary of crew members, management fee, repairs and maintenance, supplies, among others. With this kind of arrangement, owners need to invest significantly less to “own” a yacht which they do not get to use 365 days a year anyway due to several reasons. Each owner gets to enjoy the equity benefits of his investment and shares the liability burdens with his co-owners.
Buying a used charter yacht
Another way of looking at discount yachts is buying used charter yachts that have been managed by a charter company. You should go for boats that have been managed by a charter company that you know does extensive maintenance of their fleet.
Potential buyers may also take advantage of the phase-out period when the charter company is about to hand back the boat to its owner at the end of the contract term.
Before the boat leaves the fleet and gets returned to the owner, the charter company will conduct a thorough check-up of the yacht. While owners cannot expect to have their boats back looking as sleek and shiny as when they first bought it, they can expect the charter firm to take care of the repairs and replacements that do not fall under the fair wear and tear conditions.
So if you get a charter boat that has just come from out of the phase-out procedure, you may find a vessel that still looks and works well at a fairly good price. Owners usually trade-in or sell used charter boats after their contracts with the charter company expire. If you hit it right, you may be able to get a boat that is completely overhauled, inspected, and even surveyed.
Research will come in very handy in finding the right boat for you. Check the websites of charter companies, charter boat owners associations, boating websites, as well as boating newsgroups. There you will find lots of useful tips and information that might lead you to your pefect boat.
Get in touch with boat brokers. Charter companies would usually have their brokerage division or work with other brokerage firms to help departing and phased-owners sell their yachts.
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