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Being an owner of a large yacht is not trivial. In addition to the initial amount, there are the operating costs, the organization of periods on board, and the crew. In short, being an owner is a commitment, especially if you want to do everything right. At Boot Düsseldorf
there is a reality, Meros Yachting, which aims to overcome all these obstacles with shared ownership, but not only that. At the German fair there will be a Sunseeker Yacht 95 Meros, a 28-meter extra-luxury designed specifically for this purpose. It will be (among other things) the flagship of this edition of the Boot.
The strengths of Meros Yachtin formulas are diverse and address specific needs. The aim is to offer owners of 50- to 70-foot yachts the opportunity to raise the bar by upgrading to a larger yacht, such as the nearly 30-meter-long Sunseeker Yacht 95.
In points, these are the main pros:
Presented as an alternative to direct ownership, Meros provides different ways to be an owner (on top vessels such as Sunseekers), through classic direct quarter ownership or the Flexshare leasing option (equity share + bond share).
Depending on personal financial preferences, Meros allows clients to set annual costs. In this way, those who are usually held back by the sometimes excessive and chance-related operating costs have the opportunity to access this lifestyle without the associated financial uncertainties.
In Düsseldorf there will be a brand-new Sunseeker 95 Yacht, “Meros Line,” designed in collaboration with Sunseeker specifically for shared use, which you will find in Hall 6, booth B-61 in Düsseldorf.
What changes between Quarter Share and Flexshare
The Flexshare formula is indirect ownership: you will have no legal responsibility for the asset, but you will have a brand new yacht. Dues prices directly reflect the cost of the yacht’s list price. There is also the option of guaranteeing the investment, so that, unlike the share (the Quarter Share, i.e., 25%), you do not feel the depreciation of your share when the yacht ages. In this case, the yacht is commercially registered, so in the weeks when the yacht is not in use it can be rented out, with an economic return for the owner.
The yachts in the Flexshare program are always new and in this case the yacht is larger, so operating costs vary (from 170 to 240 thousand euros). In the second case, however, they include everything and are fixed. The de facto Flexshare is designed to balance the disadvantages of the most common sharing structures. This means that no matter what happens to the yacht, the owners will pay nothing more than the lendable fee.
In the other, however, quarter ownership is direct ownership, an ownership . One is therefore fully responsible for the asset and it is a private vessel that cannot be rented. No different from what the market currently offers, Meros in this case promises “plus” a higher standard of management. The yacht that is in the quarter share spent its first 3 years in Flexshare. So now it is 4 years old, and this has an effect on the stock price, as it dramatically changes the value of the yacht.
By becoming a quarter owner of the yacht (25 percent) you will have 12 weeks. The weeks in a year are 52. The company reserves 4 (1 month) for routine hull maintenance.
The cost is 1 million pounds for the boat plus about 170,000 euros per year for management. The Sunseeker for sale now spent its first 3 years in the Flexshare. So now it is 4 years old, and this has an effect on the share price, as it changes the value of the yacht. Also, one must remember that the value of one’s share will depreciate like the boat.
Maintenance costs can only be provided for in the quarterly dues. If something were to happen, an engine failure (outside the warranty) or more major repairs, these will fall on the owners and thus annual costs may change from year to year. As would happen if you owned your own yacht. Registration for Meros events during the year is an additional amount to the annual fee.
What does it include?
Based in southwest Majorca,
Operating costs cover:
Unlike a yacht in the Flexshare model, a private boat in The Quarters option cannot be chartered. This means that your yacht is reserved only for you, your family members and other co-owners. Unused weeks cannot then be capitalized, but you can become the owner of a large yacht at a quarter of the price.
Available for the 2023 season, Flexshare is a modern ownership system.
The cost is 1,062,000 million pounds for the vessel plus about 240,000 euros per year for management . The yacht in this case will be commercially registered and can potentially provide income from chartering. The costs are fixed and this effectively zeroes out the risks. Thus, included in the fee is:
Each year an owner of Flexshare will pay a fixed annual fee. The investment is guaranteed and annual costs are higher-this protects your investment and allows you to walk away with your investment intact, minus a standard 8% management fee.
The annual fee includes not only the well-known “running costs,” but covers the depreciation of the boat and everything else imaginable, excluding personal expenses (fuel, food and drink), viz:
The idea comes from Martin Huber, a businessman and shipowner who, with his experience and perspective, knows all the issues of dealing with boats of this type. His goal? To create a system capable of combining the beauty of exclusive ownership with the convenience of chartering.
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