1. What is fractional ownership?
2. How many fractional owners are there in a membership?
3. I'm concerned about owning a superyacht with people I don't know.
4. Can my company purchase a membership?
5. Why purchase a previously owned superyacht rather than a new superyacht?
6. Where is the superyacht based?
7. Who can use the superyacht?
8. How often can I use the superyacht?
9. What if there is a scheduling conflict?
10. What if I want to use the yacht for more than 28 days per year?
11. Can I charter the superyacht during my allotted time?
12. What happens to the superyacht when not being used by members?
13. What savings can I expect on normal charter rates?
14. What happens at the end on the management contract period?
15. How secure is my investment?
16. What if I want to upgrade my shares to another superyacht?
17. Do I have to be ondoard for my guests to use my time?
18. What are the hidden expenses?
19. What is the security deposit?
20.
Is this a timeshare scheme?
21. Why don't I buy a superyacht myself instead of entering into a co-ownership arrangement?
22. Why don't I enter into a co-ownership arrangement to buy a superyacht with family or friends?
23. Is the superyacht insured?
24.
Will I have the opportunity to meet other Members of the PremierSail Club?
1. What is fractional ownership?
Instead of a single owner, several co-owners purchase a superyacht, which is then managed and maintained by a management company such as PremierSail. This significantly reduces the purchase cost to each co-owner, and their annual maintenance and management fees. Top
2. How many fractional owners are there in the membership?
The number of co-owners for each superyacht will vary between two and six, depending on the amount of shares each member purchases. Top
3. I’m concerned about owning a superyacht with people I don’t know.
Don’t be, PremierSail manages the superyacht. A single or small group of co-owners cannot dictate the operation of the yacht to the disadvantage of other co-owners. PremierSail removes any potential for owner-to-owner conflict, in order to maximise each owner’s cruising experience. Top
4. Can my company purchase a membership?
Yes, providing that the superyacht is not used for charter, and that you do not charge guests or clients. Your fees may qualify as business expense deductions. Please contact your tax adviser regarding your specific requirements. Top
5. Why purchase a previously owned superyacht and not a new superyacht?
After extensive research, PremierSail believes that it is more advantageous to purchase a previously owned superyacht that has been kept in good condition. Like automobiles, a new superyacht will lose value immediately after it has been purchased. We could not guarantee to return your purchase fee with a new vessel. Top
6. Where is the superyacht based?
The location of the superyacht depends on the year and season. The Destinations page of this website shows seasonal locations where the superyachts will be based during the next ten years. However, PremierSail are happy to listen to members’ wishes, and adopt new locations if they are viable. Top
7. Who can use the superyacht?
Co-owners, their family and guests may use the superyacht. PremierSail provides a qualified captain and crew who are responsible for the safety of the guests and superyacht. Members and guests can participate in sailing the vessel, but only under supervision and at the captain’s discretion. Top
8. How often can I use the superyacht?
Your usage of the superyacht is dependent on the amount of shares you have purchased. A membership of six members each owning one share, will give four weeks (28 days) use of the superyacht every year for each member. The 28 days are split into two 14-day vacation periods, each taken in one of the two annual seasonal locations. Members choose each vacation period six months in advance using an equitable, rotational scheduling programme. Top
9. What if there is a scheduling conflict?
The PremierSail scheduling programme ensures fair and equitable use by each co-owner. Reservations may be cancelled or changed up to 4 weeks (28 days) before the scheduled use of the superyacht. Top
10. What if I want to use the yacht for more than 28 days per year?
It is possible to own multiple shares. It may also be possible to transfer weeks between members, but without any financial advantage. This may occur if a member is unable to fulfil their allotted time in a given season. The details of the transfer schedule will be explained when you meet with PremierSail. Top
11. Can I charter the superyacht during my allotted time?
Sorry, but the answer is no. PremierSail provide an exclusive membership programme with significant savings over chartering a similar size yacht. All yachts managed by PremierSail are only to be used by co-owners, their family and guests. Top
12. What happens to the superyacht when not being used by members?
The superyacht is available to members for 168 days each year. The remaining days are used to prepare the yacht between members’ vacations (typically 2-3 days), or reserved for our planned maintenance programme, annual refit, and relocation of the yacht to the next seasonal location. This also ensures that the crew are sufficiently rested so that your vacations are professionally catered for. Top
13. What savings can I expect on normal charter rates?
Our approach to superyacht ownership will give you considerable savings on normal charter rates. However, the amount of savings will be dependent on the nature of the vessel and the amount of your shareholding. For the example shown on this website, you will typically save more than £430,000 over five years. Top
14. What happens at the end of the management contract period?
A seven-year, renewable Management Agreement is enacted between PremierSail and the limited liability company (LLC) that owns the superyacht. At no time will the vessel be sold, other than by collective agreement of all members. Members have the option to release their shares to recover their investment (subject to any early redemption fees) or upgrade to another yacht. Details of the Upgrade Schedule and Release Schedule will be explained when you meet PremierSail. Top
15. How secure is my investment?
A new LLC is incorporated for each superyacht. Co-owners become shareholders of the LLC, and appoint PremierSail to purchase, maintain and manage the yacht on their behalf. Details of the Co-ownership Agreement will be explained when you meet with PremierSail staff. The only asset of the LLC is the superyacht. New members can join the LLC by purchasing the released shares of a member wishing to leave the Club. Existing members are always given first refusal on any released shares. The departing member’s initial investment is returned in full (subject to any early redemption fees) at exchange of contracts between the new member and the existing member. Top
16. What if I want to upgrade my shares to another superyacht?
Opportunities will arise for members to upgrade their shares to further superyachts in the PremierSail fleet. An existing or new member will be sought to purchase your shares and release funds for the other superyacht. Any additional fees for a more expensive vessel will be added to your overall investment programme. Details of the Upgrade Schedule will be explained when you meet with PremierSail staff. Top
17. Do I have to be onboard for my guests to use my time?
No. Guests and family can use your time without you being onboard. But you must never charge them or any other third party for their usage. If minors are using the vessel, the leader of the party must be at least 18 years of age. Top
18. What are the hidden expenses?
There are none. All expenses (except the security deposit and vacation fees) are covered by your membership fee and the annual management fee. You need only pay supplementary fees for return air flights, travel insurance, food, fuel, berthing and concierge services. Or you can opt for our All Inclusive management fee which accounts for all your food, drink and berthing too. Top
19. What is the security deposit?
The security deposit is the value of 6 months of your annual management fee for each share owned. This is placed in an interest earning account along with the other member's security deposits. The security deposit is only used by PremierSail in the event of any non-payment of the quarterly management fee by one or more members. This means that the operation and maintenance of the vessel will not be affected for the mutual benefit of the membership. You will receive actual interest earned on your security deposit if you relinquish your share/s. Top
20. Is this a timeshare scheme?
Only in so far as the weeks during the year are shared between all the Members. In all other respects it is very different. You do not have the same fixed weeks each year. The share price does not vary according to when you take your vacation. The company is not linked to an international exchange organisation. You own the title to your share in the LLC that owns your yacht. The use of the yacht is restricted to the other shareholders of your LLC and their family and friends. Top
21. Why don’t I buy a superyacht myself instead of entering into a co-ownership arrangement?
Most owners only actually use their yachts for about four weeks each year. Therefore it makes sense to enter into a co-ownership arrangement through which you will make significant financial savings on both the purchase and operational costs of the yacht. Top
22. Why don’t I enter into a co-ownership arrangement to buy a superyacht with family or friends?
Of course you could do just that. However, PremierSail provide a hassle free alternative. We manage everything on your behalf from the initial survey and purchase through to employing crew, arranging maintenance and the day to day running of the yacht. Top
23. Is the superyacht insured?
The yacht is covered by the most comprehensive insurance policy available. This ensures that in the event of a claim, for whatever reason, the matter will be resolved quickly and efficiently at no additional cost to the Members. Top
24. Will I have the opportunity to meet other Members of the PremierSail Club?
Yes, we arrange an annual dinner for all Members who wish to attend. We also arrange an annual extended weekend in a Mediterranean location for joint-use of the superyacht. Members stay in a hotel and use the yacht during the day. Top