Fractional Ownership News
Explorer yacht for sale in fractions
A $10 million explorer yacht has been launched for sale on a fractional ownership basis. The Balboa Explorer, described as one of the few true explorer yachts capable of world circumnavigation, is for sale, with shares starting at US$250,000.
Investors will enjoy a free week of exclusive use each year as well as discounted voyages for themselves, friends and family on the full crewed vessel.
When the yacht is not being used by its fractional owners, the management company will run small ship cruises in Panama, to cover all the expenses of crew and maintenance.
A $250,000 share entitles owners to:
• 1 week of exclusive use of the vessel for owner and up to 20 friends/family for up to six years (a net market value of approximately $125,000 each year), only paying for fuel and food.
• Discounted travel for owner and partner on special theme cruises with other fractional owners.
The option to resell owner's week of free travel to the public to increase your ROI.
•The boat will be sold after six years, with the company aiming to give investors a good return on their investment.
While the Balboa Explorer is currently being converted for its new use, the company is marketing adventure yachting charters in and around Panama. 20 weeks per year are reserved for fractional owner use. The other 28 weeks will be used for commercial charter to cover the fixed overhead and crew cost.
After four years of this operation, the globetrotting will begin.A two-, possibly three-year around the world tour will take the Balboa Explorer to places such as The Galapagos, Marquesas, Tahiti, Fiji, Tonga, Vanuatu, New Caledonia, New Zealand, Australia.
To cover expenses, the operators will sell legs of the trips to adventurous travelers, while owners can come along for “rock-bottom” rates and some weeks of the year are reserved exclusively for fractional owners.
The operators say: “There is nothing like this on the planet. You will have the biggest bragging rights of any fractional yacht owner in your circle of friends. It’s the smartest, the most cost-effective way to own an expediton dream yacht. And if you don’t have time one year or simply want to maximize your return, let our sales operation sell your week. Or send your friends to take your place. No problem. It’s your yacht after all and the rules are made to give everybody a fair share of the fun without the expenses.”
Another fractional exploration yacht, the Long Tall Sally, is being prepared for a trip around Antarctica.
www.balboaexplorer.com
27/07/10
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