Prospect owns a yacht that cost him $1,500,000 when it was brand new. The yacht is docked at a marina near Prospect’s $1,200,000 when new. The yacht is docked near prospect home and he has a part time maintenance man that checks the yacht twice a week. Prospect uses the yacht on occasional weekends to take short trips with his friends and family. The yacht is now five years old and requires some major mechanical and cosmetic work.
Prospect is thinking about selling his yacht and purchasing outright interest in a Saveene 3 stateroom fractional yacht for $50,000. Prospect likes the idea of owning a well-kept yacht complete with warranties, competent management and a professional crew. He also resents being tied to the helm while his guests enjoy themselves on his yacht. To compare the two options he creates the following table:
Five-year cost advantage of purchasing a Saveene share compared to sole ownership can be as high as $100,000
|COST & BENEFITS||Sole Ownership
His Current yacht
|Saveene Fractional Yacht|
(Dockage, Maintenance, Captain,
Crew, Supplies, Insurance and misc)
|The Yacht and Amenities||54’ sail yacht||Same|
|Crew||Prospect (Family/Friends or hired help)||Professional crew|
|Location||Short trips near his home||Anywhere from S Florida|
|Management||Prospect (whenever he has time)||Independent professional
management by Saveene
Saveene system has been developed using the best industry know how, ways and means and latest engineering techniques and builds such as the staffing quarters on sailing yacht. Our system is developed from a proven R&D base.