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Shareboats

Shareboats

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SHAREBOATS!

Princess Yachts SA (Pty) Ltd (PYSA) 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.

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, have an exclusive agreement with International Yacht Brokers, David Abromowitz & Associates (Pty) Ltd (DA&A), 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.

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Before you buy any boat, you would need to ask yourself 5 questions…

  1. How much am I willing to spend for this luxury?

  2. How much devotion will I have for its care and maintenance?

  3. How often am I going to use it?

  4. How much time am I willing to expend on managing the daily operations of the crew, weekly and monthly maintenance, purchasing of required parts, monitoring of sub contractor repairs, certificate of fitness compliance, hours of research, decision making, financial payments, mooring, insurance and crew?

  5. What if something changes in my life and subsequently owning this yacht becomes more of a burden than an asset? How easily will I be able to sell?

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If you have answered any of these questions with hesitation or reservation then think of the Shareboats program managed and run by PYSA where you will purchase only the portion you intend to use, you are free of all the headaches and hassles of management and will only spend a % of the acquisition price and all of the operating costs. More importantly, each time you go onboard, whether for business purposes or pleasure with the family, this is your yacht, with all the pride and privileges of individual ownership, fully serviced by a Skipper and crew, both at sea and alongside who are there for your enjoyment. THIS IS NOT A TIME SHARE PROGRAMME – IT IS OWNERSHIP!!!

PYSA is the management company for the individual or private companies that own each of the boats in the Shareboats “stable” and are responsible for all of the time scheduling, crew appointment, maintenance, daily operations and financial aspects of each yacht providing you with a turnkey solution to the yachting lifestyle. Buying a % share in the vessel secures you the equivalent % shareholding in the company that owns the vessel.

THE ADVANTAGES OF BUYING INTO THE SHAREBOATS CONCEPT:

  • You can enjoy a turnkey yacht ownership experience
  • You are free to sell your ownership interest at any time – far easier than selling the entire boat.
  • Your yacht is fully equipped to ensure a memorable experience
  • Maximum use is made of your yacht. Crewed yachts are better maintained, have a higher life expectancy, and generally hold their value
  • Your yacht is professionally managed by PYSA
  • Annual General Meeting of all Shareholders where the financials are presented and budgets determined.
  • Our carefully chosen captain and hostess ensure excellent service and atmosphere on board
  • Your yacht is ready to sail as soon as you arrive

Current boats with shares available include the following:

  • Princess EMMA – Princess 25M Flybridge – based in Cape Town – R 3.3m per 1/6th share – R26k monthly levies.
  • Aqua Princess – Princess 58 Flybridge – based in Cape Town – R 1.2m per 10% share – R11k monthly levies.
  • Ocean Princess – Princess 58 Flybridge – based in Cape Town – R 1.4m per 12.5% share – R12k monthly levies.
  • Intrepid – Princess 67 – based in the Med – R 1.5m per 10% share – R 20k monthly levies.
  • Kili – Leopard 46 Sailing Catamaran – based in Mauritius – R 850K per 10% share – R9k monthly levies.
  • Zara – Princess 58 Sports – based in Skiathos – R1m per 10% share – R15k monthly levies.
  • Gryphon – 100ft Elegantly restored Classic Motor Yacht (1973) in Mauritius. Share and levy to be confirmed
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The process could not be easier. One of the team from Princess Yachts SA or David Abromowitz & Associates will introduce and discuss the concept in further detail and the various options that are available to you with each boat’s program. Thereafter, a 10% refundable deposit secures the full set of documents for your perusal and signature.

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These include:

  • Sale of Shares Agreement
  • Shareholders Agreement
  • Usage
  • Rules
  • Management Agreement

Once all documents are in place and signed you become the owner of a share or multiple shares in the vessel of your
choice.

Operating costs for the vessel is shared amongst the shareholders in the form of a levy and these cover the following:

  • Mooring
  • Insurance
  • Skipper and Crew (on selected vessels only)
  • Maintenance
  • Everything except consumables eg Fuel, Food, Beverages etc.

When you are onboard the consumables are for your account and the consumption of fuel, food and beverages is easily handled by the crew and the associated accounting firm and you simply receive an emailed invoice when all costs are calculated. No mark up is added to these costs.