Charter my boat?

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circo
YF Newbie
Posts: 2
Joined: Fri May 27, 2011 8:55 am
Location: liverpool

Charter my boat?

Post by circo »

Hi all, I'm new to the forum but looking for some advice if possible. I'm looking at buying my first yacht and looking at a sun odyssey 40, about 10 years old with a plan to moor it abroad. I intend to sail it at every oportunity, but I was also thinking of chartering it to a charter company to cover expenses. Has anyone had any expirience of this practice and its pitfalls, and more to the point what can you make?

Cheers
Discus
RNLI Supporter
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Location: Floating around the SW

Post by Discus »

The boat will have to go through the local equivalent of being coded for charter for whatever country you keep it in - generally not possible if it is a british flagged vessel in say Spain, Portugal, Italy, Greece or Turkey. There are also tax liabilities to consider. In addition, most people chartering are looking for a newer boat - 10 years old is barely run in for you and I but many of the big charter companies operate fleets of boats less than 5 years old, the rational being that they take a hammering from charterers who don't really give a monkeys!! The safer route to do this is to purchase a yacht through a large charter company, e.g. Sunsail, who manage the boat for you, take care of legalities and maintenance and offer you a slice of the money the boat earns - although it won't be as big a slice as you may want. It is also possible to purchase older yachts that are about to go off the charter fleet and have them managed by a smaller local charter company, but again, you may find the amount of money you get might make it uneconomical. The life of a charter boat is a hard one so residual value of your purchased yacht will be about 20% lower than the equivalent non chartered version.
Not impossible to do what you are saying but you need to weigh up the pros and cons.
circo
YF Newbie
Posts: 2
Joined: Fri May 27, 2011 8:55 am
Location: liverpool

Post by circo »

Thanks discus, I've e-mailed sunsail today and looking forward to a reply. I was hoping to do this privatly so I'll be doing some more homework.
Cheers
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