Had a chat today with the guys at ownaship about buying shares in one of the rayglasses that they have. I'm reasonably keen, and the price sounds good too, but I cant help wondering if there is something that I am missing? Is anyone on here involved with them and can give me some pointers or any general comments about buying shares in a boat? Obviously this scheme is a bit different to the usual 1/2 share or 1/4 share that you see others selling. The attraction for me is that I get the use of a boat that I could not otherwise afford, and if I sell my boat it also frees up some capital to put into my business. Any thoughts?

I own 50% of a 36 foot launch and find the traditional partnership concept great. ......Most of the benefits of boat ownership but only half the liabilities. But you need to go into it with your eyes open. In my view there a 3 key aspects:

• It needs to be treated as a business proposition
• Your partner/s need to be "likeminded" in terms of maintance, boat presentation etc
• You need a well constructed, legally binding, mutally acceptable partenrship agreement

If you can work this out a private partneship gets rid of any middleman.

Thats only because you like the idea of someone else being able to take out the "clan" so you don't have to Lance!

Yes am planning on giving Dave a call today.

Blue Legend wrote: It looks like a 10% share, Annual cost of maintenance per share $3211.   Thats $32110 a year maintenance, Am i reading that right  I have a Rayglass 730 and i can assure you $3211 is more than i spend a year on maintenance

I believe that it includes drystack fees, cleaning after each trip, administration costs etc, plus remember this boat will do as many hours in one year as you do in 8 - 10. Engine life expectancy 2 - 4 years, with major maintenance intervals nearly every year etc etc

V8BOSS wrote: And lets remember that these guys (including Tagit) are doing this for a living, not for love! Theres got to be something in it for the business somewhere!

steve63 wrote: I agree with bluelegend....its expensive relative to other options.....keep an open mind to the other possibilities

Hi all, 

 

If you've made it this far down the thread you may be interested in an update from us (Ownaship).

 

Since 2009 (when this discussion was live) Ownaship has undergone a change in ownership and significant growth. We are now New Zealand's largest boat share management company, managing a fleet of 17 vessels and over 120 shareholders (from two vessels in 2009).

 

Having over a decade of experience means we've been able to fine tune our operation and what we offer. We think the popularity of our shares and the growth of the company speaks for itself. 

If you are thinking about a boat share but have questions we suggest reading through some of the info available on our website and getting in touch. We can help you understand the in's and outs of boat sharing with us or anyone else. We look forward to hearing from you. 

 

You do the boating, we'll take care of the rest.

Holy thread reboot but anyway I looked at ownaship when I returned to NZ in 2012. In the end we just bought our own boat,

The concept is extremely attractive at first glance but I don’t see how it would ever work for me in practice. When I want to go boating I just decide and off I go. Major trips away are planned but can change for a bunch of reasons not least of all of course the weather. And everyone would want the boat at the same key peak times.

I’m mad for boating and love it. Perhaps the ownaship concept would work best for more casual boating interest where you want to get out a few times a year and have a controlled cost of doing that. That makes boating just a small part of your past time .

Alternatively you might want to have access to a boat that you couldn’t afford or couldn’t justify investing all that money in to own outright.

Probably a individual boat share in halves or thirds could work ok with the right people and the right agreement. For me I prefer my own boat.