Ownaship shares
Printed From: The Fishing Website
Category: General Forums
Forum Name: The Boat Shed
Forum Description: Discuss all things boating.
URL: https://www.fishing.net.nz/forum/forum_posts.asp?TID=42987
Printed Date: 16 Jun 2026 at 10:57pm
Topic: Ownaship shares
Posted By: V8BOSS
Subject: Ownaship shares
Date Posted: 14 Jul 2009 at 5:50pm
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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?
http://www.ownaship.co.nz/ - http://www.ownaship.co.nz/
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Replies:
Posted By: Tagit
Date Posted: 14 Jul 2009 at 6:13pm
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Paul - I run a (sort of) competing business, but we used to offer a product like Ownaship ~10 years ago. Talk to me before you sign anything. I know their concept very well and can tell you what to think about and exactly what questions to ask. It may still be a suitable product for your needs, but I would be 90% certain that you don't yet have a full picture of what you will be buying into.
There are serious 'fish hooks' in a 8 to 10 way share and when the price looks to good to be true, there is always a reason.
Tagit (Dave 021 669150)
For a quick read about some of the issues, click on this link - http://www.dreamboats.com/index.cfm?page=Fractional%20Ownership%20Myths&fuseaction=fuseaction_46&fusesubaction=docs&documentID=64 - http://www.dreamboats.com/index.cfm?page=Fractional%20Ownership%20Myths&fuseaction=fuseaction_46&fusesubaction=docs&documentID=64
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Posted By: Steve63
Date Posted: 14 Jul 2009 at 8:38pm
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:
If you can work this out a private partneship gets rid of any middleman. However if you want to go down the managed fractional ownership path you should also talk to the people at OBC marina as I undertsand a group of them have got togeather to buy one or two boats for this purpose.
Good luck
Steve
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Posted By: [email protected]
Date Posted: 14 Jul 2009 at 9:01pm
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Id take up the offer to sit down with Tagit, Paul, it would be an opportunity not to miss :) ------------- http://www.blackbillsportfishing.co.nz/" rel="nofollow"> 
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Posted By: V8BOSS
Date Posted: 15 Jul 2009 at 8:32am
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. |
Posted By: Blue Legend
Date Posted: 15 Jul 2009 at 8:56am
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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 maintenancePosted By: Tagit
Date Posted: 15 Jul 2009 at 9:07am
To be fair to them Blue Legend, the 'maintenance' fee covers a lot more than what you are counting as maintenance. And to be double fair, if you counted all maintenance costs including eventual engine/leg rebuild/replacement, new canopies, re-upholstering, winch servicing, battery replacements, trailer servicing etc, plus your laour over a 5 - 10 year period, I would expect that your maintenance bill might be more than you think.
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Blue Legend wrote:Posted By: Blue Legend
Date Posted: 15 Jul 2009 at 9:16am
OK maybe over a 5 -10 year peiod mine may be more than 3k a year, but 32k a year? For 30k a year you could get a new engine, winch and canopy every year. Thats 320k worth of maintenance over 10 years, Just seems way over the top to me
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Posted By: Tagit
Date Posted: 15 Jul 2009 at 9:25am
| 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 |
Posted By: V8BOSS
Date Posted: 15 Jul 2009 at 12:50pm
| 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! |
Posted By: Tagit
Date Posted: 15 Jul 2009 at 1:02pm
Nah - we only do it for love. Honestly
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Posted By: Steve63
Date Posted: 15 Jul 2009 at 8:20pm
| I agree with bluelegend....its expensive relative to other options.....keep an open mind to the other possibilities |
Posted By: Tagit
Date Posted: 15 Jul 2009 at 9:07pm
What are the other options Steve? I can think of:
1) Own you own - this is the most expensive and time consuming, but can be the most satisfying as well
2) A private partnership. A good option, but requires you to find 1 to 3 other very like minded people with similar financial circumstanmces and boating needs. This is usually a pretty cost effective option, but the partnerships have a bad tendancy to run into problems when one of the owners circumstances change or the group stopping seeing eye to eye about their boat.
3) One-off charters. You can't usually charter boats like these, and one off charter boats tend to be older and less well looked after unless you get lucky and find one that has just come onto the market. They are also usually no cheaper, require forward bookings, sometimes have dodgy cancellation clauses etc etc
4) ????
Whilst I don't specifically like the OwnaShip style "Fractional Ownership" concept, it is not because it is overly expensive. It is the quality of service that it falls down on.
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Posted By: Steve63
Date Posted: 16 Jul 2009 at 4:09am
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I meant that the so called 'maintenance' fee for this size vessel was high relative to what you would pay if you were in a private partnership or in something like what the OBC members have setup. For example we pay approx. $7k per annum for a 50% share of a late model 36ft launch. This includes marina berth rental, maintainance, insurance etc. Yes we have to manage these activities ourselves but I find that an enjoyable part of the whole boat ownership experience As per my first post I am an advocate of "fractional" ownership but do beleive there are more cost effect ways of doing it....after all most people consider fractional ownership because "cost" is a key consideration for them
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Posted By: ownaship
Date Posted: 06 Mar 2019 at 9:19am
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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. http://www.owanship.co.nz" rel="nofollow - www.owanship.co.nz |
Posted By: Steps
Date Posted: 06 Mar 2019 at 10:10am
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Maintenance..in general ball park, doesn't matter if a little dingy , 5 or 6m run about or a moored boat.. normal rule of thumb is about 10% of the real market value. And if think say last 5yrs your maintenance is well below, a big item will come up and make it about 10% ave of several yrs. If one is able to do a lot of the maintenance yourself.. time/ skills.. engine servicing, hull cleaning , maintenance (even a 5m needs gelcoat chips maintained ) you will go well under the 10% But eventually even then that big item comes up... REGULAR maintenance covers everything from fuel lines, filters, gearbox oil, steering... trailer rego, bearings, springs insurance. Had this discussion many times over the last 45/50yrs... couple things that are consistent... the 10%...and those who recon its wrong... I would not buy their boat simply due to a lack of a hell of a lot of reg maintenance they cant see. eg from fuel lines cracking to U bolts on the trailer. We have considered going down this route a couple times.. Tagit occasionally has a boat come up in the forums here.. looked into alternatives etc Always turns out we would go with him. Why we haven't? cause we where selling up cashing in our Auckland home, have done so , and the time of travel to the boat.. Our older commander.. very tidy, original, not painted. Owes us around 16 to 18K Would sell for around 12 to 14K Maintenance/ insurance etc per yr.. and I do most of servicing, hull, upholstery cleaning,etc.. A service boat and trailer thats around $800/yr The washdown pump needed replacing few months back.. OH and out of interest.. a classic car/ hot rod and a house is also about 10% |
Posted By: whippersnappyr
Date Posted: 06 Mar 2019 at 10:12pm
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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. |