A Share is 1 week of the usage and cost of the yacht. Each 1 week owned entitles you to 7 days of use.
The weeks are assigned or selected by you when you first finalize your fractional ownership plan with Saveene.
There are several choices you can choose. 1st Saveene would approach the other owners for a "swap" of time. 2nd you may give your weeks to family, friends, clients, or, you may opt to charter your time and receive the income. We do have a charter program which we encourage the owners to participate into.
The yacht has an annual operating budget which covers crew payroll, insurance, maintenance and repairs. All the owners contribute their equivalent share to this fund, payable every month. This insures that there are funds in the account all year long to cover the operating expenses of the water craft itself. The costs are fixed
If an owner fails to meet his obligatory payments, due to job loss or other reasons we will work with the owner to remedy the situation. In most cases Saveene will step in and make the payments on behalf of the owners portion so the water craft’s maintenance account remains constant. Saveene has the right to sell the share in peril and to, recoup the advanced funds. The owner in arrears will be forwarded the balance of the proceeds. All of the other owners in the fractional yacht plan are not obligated for other owners missed payments.
The yacht is fully insured but the policy does have a deductible amount. If you damage the yacht then you are responsible for the entire deductible. If the yacht is damaged due to no one’s fault or Captain’s error, the group as a whole will pay the deductible, from the CAP reserve.
If the yacht malfunctions during your time aboard, the repairs will be made as expeditiously as possible. If however the yacht cannot continue her itinerary due to mechanical failure, we will reschedule your missed time as soon as it is possible. With our licensing agreement with Florida Yacht Group we can quickly arrange for a replacement yacht to insure you do not lose any valuable vacation time with your family.
This is your yacht and your time. Sail Yachts use wind as a power source. Sometimes the power engine may have to be engaged. Your estimated costs for a good 7-day sail should not exceed $500. Obviously this sum may vary and is provided as a reference purpose only.
Saveene’s management teams are fully responsible for the management of the water craft including but not limited to crew placement, scheduling, repairs, insurance, outside resources and accounting. We send a monthly cash flow statement to all of the owners and we also send an independent audit to everyone each year. Saveene management becomes your go to source for any questions or suggestions you may have or for help with any plans you may want to make.
Becoming a member in the Fractional Ownership family is very simple. We will help you select the right needs by determining how many staterooms you require, where you want to vacation and how much money you are comfortable spending. After that a refundable deposit is given, along with a signed binder, Saveene will prepare and forward the Fractional Documents to you. Upon execution of the documents, simply return Saveene’s “copy” along with the balance of the purchase price. Then all you have to do is start packing for your luxurious and fun filled cruise on your own yacht. If for whatever reason you decide not to go forward with the purchase, just return both sets of documents to us and we will refund your deposit.
You can own your share as long as you want. You can sell your share whenever you want. Saveene will assist you in that endeavor as we are always in the Fractional Sales spotlight. Unlike other fractional plans that end after 10 years, Saveene contracts are evergreen. Evergreen means they continue on. The CAP program allows us to re purchase new yachts every few years.
How does up to $500,000 sound? Section 179 of the first year depreciation limit for yachts used in an active business to $500K beginning in 2015. If your business purchases the vessel and is used for business purposes than the water craft may be depreciated according to the new tax law and all of the operating costs may also be deducted. If you take out a loan to purchase the water craft the interest may be deducted as a “second home.”.
First of all consider renting verses owning. We have learned that the main reason people charter is that they get to have all of the luxurious lifestyle and fun while on board and then they get to walk away from all of the headaches involved with yacht ownership. The Saveene Fractional ownership program offers the same experience. We handle the headaches and daily concerns associated with yacht ownership, not the owners. You enjoy the yacht like a charter but you receive proceeds when she sells unlike a charter. Second compare Saveene pricing of owning a fractional yacht versus chartering a boat. You will be impressed.