Based in Fort Lauderdale, Florida, AvYachts has launched its ‘Instant Yachtification’ programme, enabling people to immediately enter a world that could otherwise take many years and dollars to achieve. Seeing an untapped market opportunity for yachting in the sharing economy, which is estimated to grow from $14 billion in 2014 to $335 billion by 2025, AvYachts brings to yachting the shared ownership model pioneered by private jet travel companies.
The company offers either a 10 or 20 per cent share in a yacht, with each share corresponding to three or six weeks annually aboard their fully-crewed Westport yacht, ranging in size from 34 metres, 40 metres or 50 metres, for a five-year period of ownership. At the end of this time, AvYachts re-sells the vessel and the owners receive their share of the proceeds.
There is also the opportunity to try before you buy with 24-hour, three-day and seven-day charter options available. AvYachts will deduct the charter fee from the purchase price if you decide to proceed with owning a share. A 10 per cent share in a 34-metre Westport yacht starts at $995,000, a fraction of the total cost of the vessel, which can reach $10 million (plus management, maintenance and operating costs). A quarterly fee is then charged to cover everything except consumables while on board.
Besides deciding on a departure date, owners do not have to plan anything else as AvYachts provides full management and concierge services. Owners can travel to sought-after destinations including South Florida, the Bahamas, British Virgin Islands and New England, with planning for European and other global destinations underway.
