The psychology of sharing a yacht, what makes a good syndicate work?

A surprising number of clients we've approached to garner interest around our Palm Beach syndicate have said flat out "I don't share my toys". Fair! Own it! So to speak.

Hear me out... how often have you received a call from me (sorry!) or a mechanic, or an electrician, who has told you that you're up for another $20k out of nowhere? To fix an engine issue or a thruster here or there. No one wants that call. If you enter into a syndicate, the call is replaced with an email that says "Your yacht is having an issue with (insert issue here), there are more than sufficient funds in the sinking account to cover this, we'll be sending a detailed report to come with the balance post-fix. Have a great day!" Knowing that you are personally only paying 1/4 or 1/6 of the cost of that issue.

My second argument is that in my experience only around 5% of my clientele use their boat more than 25% of the year. If you are the person using your boat every day, then obviously sole ownership is unequivocally for you. Often yacht management looks very different for this type of client who always knows their boat in a much more comprehensive way and likes to be much more hands on.

A syndicate, or consortium, is a way of owning a vessel without managing the day to day admin, headaches like organising an emergency lift or emails back and forth for months about a cover that won't stay on and needs to be altered under warranty. These are the dailys that are our bread and butter.

We are excited to offer Bonnie G and various models of the Palm Beach Motor Yachts in a consortium structure, allowing us to take care of the minutiae, whilst our clients make the most of their time on the water! Call us today if you feel like our consortium might be right for you.

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