Yachts & Yachting — March 2018

PATRICK BENNET; SUNSAIL; SAIL IONIAN

lose all your initial investment.

Neil Bingham from established charter

holiday company, Sail Ionian, says

making sure your investment is secure,

andthatyouhaveaguaranteeyouryacht

will be well maintained, are of utmost

importance. “When buying a yacht,

you should consider both immediate

return, and what the condition of

the yacht will be in five years time,

as this will affect the resale value.

Yachtsthathavenotbeenmaintained

onaregularbasiswillbecometatty,

whichisbadfortheboatandthe

charterers and owners reputation.

“Use a reputable experienced

companywithatrackrecord,and

beware of percentages because they

can give the wrong impression; 50

per cent of nothing is still nothing.”

Nancy Poyner, yacht sales consultant

forSunsail,agreesthatsecurityon

investmentsshouldbeapriority.“Sunsail

isuniqueinbuyingallofouryachts

upfrontandsowecanoffertitleora

charge on the yacht to always secure a

customer’s investment, which we believe

is an extremely important consideration.

Theotherexclusivefeatureweoffer

onour45percentprogrammeisour

Guaranteed Buyback. This allows owners

theoptiontowalkawaywithnearlyhalf

their investment and no requirement

to first pay VAT,

registration and

running costs until

sale, which makes

it a truly hassle

free ownership.”

Signingupfor

a charter holiday

with your chosen

company will

provide an idea

of how things

work, including

maintenance on a day-to-day basis,

and the overall condition of the fleet in

general. Find out how long the yachts

are in service for over a 12-month

period. Sail Ionian yachts, for example,

are restricted to six months per annum.

Chatting to the base managers and

staff will also give a clear indication of

the standards and other owners will

undoubtedly offer valuable feedback.

Bingham adds: “For an indication

ofthestandardofmaintenance

andthestressesofayacht,Iwould

strongly recommend viewing a five-

yearoldboataswellasthenewones,

when choosing your yacht charter

partner. Also remember to factor

inthesailingareabecausestronger

windareasstressboatsmore.”

As well as UK based companies, you

couldalsoapproachalocallybased

operator;forexample,inGreeceisHDM

Sailing, a family-run business, which has

bases in Athens, Lefkas, Skiathos and

Kos. Katerina Makri General Manager

comments: “We offer all possibilities of

yacht management such as buying a new

yacht with guaranteed income. As a small

companywealsoprideourselvesinthe

fact that we have a very intimate business

relationship with all our yacht owners.”

CHOOSING YOUR YACHT

Choosing your yacht and its specification

are important decisions; any professional

chartercompanywillbehappytoadvise.

Sail Ionian, for example, offers a choice

ofspecbecausetheybelieveabespoke

finish attracts more business. Bingham

explains: “A two cabin yacht may be

more desirable than a three cabin for

a couple; teak decks make a yacht look

attractive; a choice of upholstery; slab or

in-mast reefing... These are all choices

a discerning owner would like to make.

Ifyouwanttokeeptheyachtattheend

ofthecharterperiod,thisistheonly

waytogo.Wealsofindthatayacht

often charters better if it is personalised

becausecharterersoftenlikethesame

things as yacht owners. Consider the

resalemarketbecauseifyouareoffering

something with a configuration suitable

foraprivatebuyerandsomeextras

it will generally help a yacht sell.”

FINANCES AND FINE PRINT

Down payments for a five-year lease

scheme vary from company to company

but are typically between 35 per cent

and45percentofthetotalvalueof

the yacht. Once paid, the next thing to

consider is timing. Sail Ionian says it

lookstocommitnewyachtsinMay/

Juneforthefollowingyearbecausethis

generally gives the best price advantage.

However, it may still be possible to order

up until November, although catamaran

lead times are generally longer.

Checkwhenthefinalpaymentisdue,

and ask about additional incentives; for

example,atDreamYachtCharter,for

those signing up within three months of

taking a charter holiday, the holiday cost

isrefundedagainstthatoftheyacht.

Ensure the contract has a favourable

‘end plan’ in place. Bingham at Sail

Ionian explains: “We offer the option to

extend the charter contract period whilst

ayachtissoldandofferacompletecare

packagetotakecareofyouryachtifyou

arekeepinghertogocruising,living

the dream. The same package is offered

to buyers, which helps to sell a yacht.”

Left, top

Owning in the

Caribbeanis a

good option

with a long

charter season

Left, below

Croatia has

become a very

popular charter

destination

Below left

It is advisable

to check what

maintenance

schedule will be

in place for your

investment

CHARTER OWNERSHIP TRAVEL

78 Yachts & Yachting March 2018 yachtsandyachting.co.uk