Boat Share

[Craig H]

Is anyone interested in a 1/2 or 1/3 share in a RIB to be kept in the North West (Manchester) or North Wales?

I've been hunting around trying to find a used RIB but after reading the ad's and seeking advice from other ribsters it seems more sensible to share a boat with one or two others and increase the budget to allow for a newer more reliable boat.

Ideally I would like a minimum of a 4.5m/50hp kept in either a marina or on a trailer, but am open to discusion on all aspects. Budget £2500 per share?

Drop me an email if your interested!

Craig.

[brucehawsker]

Not relevant for us, cos we are going to be Lymington based.... but it does raise an idea - given I am about to pay huge amounts of wonga to Lee at Solent....... would anyone like a part share in our new 6.5M?

I have no idea what the real implications in terms of insurance etc might be. I assume it would not count as a commercial bare boat hire hence require the (is it) MCA rating?

Probably does not fly, but since the boat will be left on the hard standing at Berthon for most of its life, if there is a half-way economical deal out there I would be interested.....

PM me or post if you are interested, or warn me off if you think this is (another) daft idea!!

Thx

Bruce

[Jono]

Bruce,
It's all very easy really except for one tiny little detail... you need to be very familiar with and trusting of the "partner" in the deal. I only "half own" my boat along with a friend. We were very careful to write up and sign an ownership agreement to ensure that things can be resolved properly. This despite me being absolutely sure that I could trust my friend.
The actual aspects of ownership are straight forward. Register the boat with the SSR (only a few pounds) declaring both names in joint ownership. Do the same with the insurance company (We use Steve at Porthcawl Insurance) and away you go!
I found that it doesn’t so much reduce costs, as allow you to spend far more jointly..
Cheers, Jono (The other one)

[brucehawsker]

What is SSR?

Thx

Bruce

[Nick Hearne]

Originally Posted by brucehawsker

What is SSR?

Thx

Bruce

"Small ships register" cost £12 I think
Nick

www.gov.im/lib/docs/dti/marineadmin/ applicationtoregisterasmallship.pdf

www.gov.im/lib/docs/dti/marineadmin/ tdeclarationofmarkingsmallships.pdf

Just seen these links are for Isle of man!! sorry

[nickjaxe]

A lot of people have this kind of thing for light aircraft, there is a forum you may be able to ask how they go about it, you will find them on here.

http://www.pprune.org/forums/forumdi...php?forumid=63

Nick.

wish I could make it clicky.

[Garygee]

Hi folks

I have often thought about this.

When you look at what a RIB costs to buy and run, do we really get value for money out of them with the use most people give them ?.
I am doing about 100 hours a year, which I feel is resonable, but what do other people do a year?.

The thing that has always put me of looking further is the problems of unknown people, get someone who is good, great, get somone who does not care or even worse hostile and it could turn into a nightmare.


Regards Gary

[roohairy]

Hi all,

I have a friend who has an interest in a sailing yacht. Cheap boating for him, but large numbers of the group (only a few hundred £ per share) have left, so while he now owns a bigger share he has proportionately higher costs to pay! Also most of the people who have left were the active members who used the boat and looked after it so basically he's been left to do all the maintenance. Anyway things have degenerated to the stage where he's going to donate his share back to the group at the end of the year if they can't agree to sell it and walk away.
Sad and he can afford to do that, but you need to think about that sort of situation before you get into a partnership. Also what happens if the partners financial circumstances change and they want to sell their share?
Think carefully!

[Richard B]

I have a friend who had a similar experience as Roo described. One problem is that someone will be more keen than the others when it comes to maintenance. Also disposal can be a problem - what happens when one partner in the syndicate wants to sell?

There are a lot of other pitfalls like some will leave more petrol in the boat at the and of a weekend and so on...

My friend's syndicate was eventually folded by agreement of all four partners and they got a very low price when they sold it - because none of them could be bothered (An extra £1000 split four ways became £250, and they felt like they were arguing for £750 for the others!)

That was four friends who had known each other since school...

[meirionr]

I live up here in North Wales and I would be interested in a share in a Rib. Exact specification is something I haven't thought much about, but about mid range, I suppose would be good.

It is a bit of a mine-field, but as long as you are all adult (and that can be the tricky bit) then it can go quite smoothly.

this link

boatshare agreement

has most angles covered. The other thing is the individuals experience. If you insist that all parties must at least have completed Powerboat level 2 then it can deter the odd fender-bender from joining.

Let me know if you would like to take it further. My boat is for sale at the moment and after it's gone, then I would be very interested.

Rossi