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Old 23 September 2007, 04:50   #1
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Sotn Boat Show & RIB Shack Marine

Hello all, I'm a new member but have been lurking about for some weeks gathering information in anticipation of buying a RIB.

I went to the Southampton Boat Show yesterday and had a very interesting day browsing around - there seemed to be a lot more of RIB interest there than I remembered.

However, one thing that really caught my eye was RIB Shack Marine's shared ownership scheme. Part of this was because the boats (ribeye 650 sports) are pretty much the type of boat I'm looking for (6.5m 150hp'ish and the layout) and part because of the ease of ownership angle.

The scheme is a 25% share / 25% access (13 weeks/yr) deal. Clearly, the biggest compromise is that you don't necessarily have anytime access (best weather etc.). But that may be ok for us and there seems to be flexibility in access too.

As quite a few people on the forum seem to be solent area based, I wondered if anyone has experience of this approach that they'd be willing to share.

Thanks
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Old 23 September 2007, 05:05   #2
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Having shared ownership in larger boats is not uncommon as the boats are often based abroad and dodgy weather becomes less of an issue. The two small boat share arrangements that I know of were both failures. One actually undermined a good friendship. You say that weather is not a concern, try telling that to the missus and kids when the other gang seem have nabbed the only three decent w/ends of the summer. The boat aquiring minor damage or not being left quite as you like it are other areas that can lead to problems. Personally, I'd rather go for a less expensive rig that was all mine.
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Old 23 September 2007, 05:07   #3
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Hi Richard, try speaking to AndyB007 as he has first hand knowledge of RIB Shack. Try PMing him
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Old 23 September 2007, 06:18   #4
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Quote:
Originally Posted by RichardB View Post
Hello all, I'm a new member but have been lurking about for some weeks gathering information in anticipation of buying a RIB.

I went to the Southampton Boat Show yesterday and had a very interesting day browsing around - there seemed to be a lot more of RIB interest there than I remembered.

However, one thing that really caught my eye was RIB Shack Marine's shared ownership scheme. Part of this was because the boats (ribeye 650 sports) are pretty much the type of boat I'm looking for (6.5m 150hp'ish and the layout) and part because of the ease of ownership angle.

The scheme is a 25% share / 25% access (13 weeks/yr) deal. Clearly, the biggest compromise is that you don't necessarily have anytime access (best weather etc.). But that may be ok for us and there seems to be flexibility in access too.

As quite a few people on the forum seem to be solent area based, I wondered if anyone has experience of this approach that they'd be willing to share.

Thanks
Your really only going to be able to use it for 6- 8 months of the year so 8 weeks is your share, then narrow that down into school holidays, nice weekend etc and you'll only get a quarter of that time when you want to use it.
The other three owners may not be as careful as you, but I assume that you pay a quarter of the up keep etc so any damage caused that nobody owns up to is 25% your problem.
If you want to tow it somewhere on holiday for two weeks can you and would you be happy for someone else too

Can you talk to any of their existing customers?

I would steer well clear as there would seem to be too many drawbacks but just my view
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Old 23 September 2007, 15:48   #5
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I don't know why they don't just hire the ribs out on a daily or weekly basis .

There was a fleet of new ribs for hire when I was in Cyprus a few weeks back from 50 to 150hp . We hired a 5.7 m rib with toys and snorkels etc all thrown in for 120 for the day .
Iam not sure I would want to hire a 25k boat out for that money to people who had never driven a boat before , but if it was available here it I would think twice about buying a boat of my own .
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Old 24 September 2007, 12:32   #6
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As noted by Hightower I am an owner of a RIB Shack Marine boat. If anyone would like to have a chat about how it works then PM me with a phone number and I'll be happy to share my experience.

RSM ownership is not for everyone but please pay no attention to the all the 'doom and gloom' merchants who's opinions are not based on fact (good sport on this forum I know!) because the scheme has some good merits IMHO (but then I would say that wouldn't I !!!), briefly;

Cost: One off 'purchase' fee (and you contractually own the boat so cannot be seized as an asset of RSM if they go bust) and a monthly management fee which is ALL COSTS except fuel (see damage below). If anything goes wrong with the boat RSM gets it fixed - no extra cost to the owners.

Training: Powerboat Level 2 and SRC training is provided as part of the package

Access: Never been a problem for me - currently seven boats on fleet and you have access to any of them if they're not being used by their designated owner. Most owners are occasional users (and some VERY occasionally) so never been a weekend (sunny or not) when I have not had use of a boat.

Weeks: Weeks are allocated at the start of the year (the weeks rotating each year) but if you want to swap weeks or get a boat on another day RSM do al the legwork (suits me as I can plan in advance)

Condition: Boats are cleaned each week by RSM and so in good nick when you get it

Fuel: Boats are fully fuelled ready to go. You can either return it 'empty', RSM will refuel it and charge you at marina prices, or you can refill it yourself (using cans from local garage if that's what you want to do)

Damage: Boats are fully insured; any on costs are paid by the owner who incurred the damage, no shared liability. All boats have Sea Start membership.

Undermines Friendships: I don't know the other owners of my boat! I now know some of the other boat owners and have cruised with them.

"If you want to tow it somewhere on holiday for two weeks can you": Yes - talk to RSM and they'll propose a week swap with the other owners (one of my boat's owners took it to France for 3 weeks this year). If you don't want the hassle of towing it RSM will arrange for it to be berthed anywhere in the UK ready and waiting for you (but you do have to pay extra for this!).

OK - maybe not so brief!! As I said, not for everyone but it works for me.

Andy
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Old 24 September 2007, 17:55   #7
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Andy

Thanks for the comprehensive feedback. I will certainly take you up on the offer to talk and Iam intending to take Rib Shacck up on their offer to try out and look around.
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Old 24 September 2007, 18:21   #8
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Quote:
There was a fleet of new ribs for hire when I was in Cyprus a few weeks back from 50 to 150hp . We hired a 5.7 m rib with toys and snorkels etc all thrown in for 120 for the day .
Ian, as Iam visiting Cyprus in a few weeks, could you post any contact details on the Rib hire as described above, sounds perfect.
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Old 24 September 2007, 18:54   #9
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Ian, as Iam visiting Cyprus in a few weeks, could you post any contact details on the Rib hire as described above, sounds perfect.
The rib hire we used was at the West end of the island , near to Polis .

Its called the Akamas peninsula and the little village and harbour where the boat hire was is Called Latsi .

Link www.tridentboathire.com

There were a few other boat hire places there too , but this one had brand new ribs with freshwater shower and sun canopy etc . Without these it would have been a miserable day , the sea is so salty you welcome the shower everytime you swim .

Boats started at 5m 50hp up to 6.5 150hp Fuel was extra but cheap compared to here and they were honest with it .

i expect you will find similar all over the island

have a good trip , it should be a bit cooler now
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Old 25 September 2007, 12:34   #10
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I was speaking to a customer rrecently who had taken on a Rib Shack package. I've no idea of the economics of it compared to outright ownership, but he was certainly pleased with the arrangement and their approach. [No connection blah blah etc]
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