Monocle Yachts officially launches its “Sell My Yacht” promotion through the Monocle Fractional Program. The firm is seeking new vessels to become part of its fractional fleet management program to meet the requests of current wait listed clients who are in line to purchase yacht shares. Monocle’s clientele consists of pre-qualified buyers who are looking to partner in luxurious, well-kept yachts ranging in size from 100’ to 200’.
The concept of selling a vessel into a fractional ownership Limited Liability Corporation (LLC) is targeted to current owners looking to sell their yacht who don’t want to compete with the other 985,000 yachts on the brokerage market today. When selling through Monocle, owners have the option to sell a limited number of shares of their yacht, thereby retaining equity along with rights to usage.
The benefits of the Fractional Program are structured to surpass those of sole ownership, chartering or club memberships. The firm looks to maintain the yacht’s value and equity for its owners by managing the yacht’s expenses, maintenance and crew year round. The net cost of the yacht and all expenses are fractionally divided into shares that entitle each owner a percentage of use per year indefinitely.
Each 10% share receives four weeks of annual use based on a rotating calendar schedule: two weeks in a summer location and two weeks in a winter location offering multiple yachting experiences.
Recent research has shown that the standard yacht owner uses their vessel no more than four weeks out of the year. Yachts put into charter typically book 6-12 weeks out of the year and endure abuse from wear and tear. In both instances, owners are required to pay insurance, maintenance, fuel, dockage and crew salary expenses year round.
President, Dr. Loren Simkowitz of Monocle Fractional Yachts comments, “Sole Yacht ownership as we have known it is a thing of the past. Fractional Ownership is the wave of the future. In this economy, Fractional is the optimum solution for yacht owners today because the brokerage market is so saturated.”
The company’s president went on to explain that today’s generation is seeking instant gratification, “Owners are looking to get on their yacht and just enjoy it, without the burden of maintenance and negotiating crew salaries. We are the only management team who does not mark up any yacht expenses, allowing our owners to only pay 10¢ on the dollar!”
Once a yacht is introduced into the Monocle Fractional fleet, they take over the obligation of global marketing and locating qualified buyers. The program currently has a database of pre-qualified buyers seeking ownership in a yacht managed by Monocle. These buyers typically own multiple residences, shares in fractional jets, vacation resort homes and are well acquainted with the fractional lifestyle.
Fractional owners are also allowed to exit the program if they choose. Each yacht participating in the Monocle Fractional Yacht program is individually owned by an LLC, and therefore the shareholder may sell their share independently or through Monocle Fractional Yachts at anytime.
As a result of the Monocle Fractional Yacht and Management program’s success they have sold out over 90% of their current inventory. This is the first time in the company’s history where it will not solely rely on the purchase of new yachts. Monocle is providing yacht owners a unique opportunity to participate in the program by bringing their vessel forward for consideration.
If you are a yacht owner of a well maintained vessel and would like to learn more about selling your yacht through the Monocle Fractional Yacht Program then please visit http://www.monocleyachts.com or call +1 954-563-5808 for more information.
The SuperYacht Times iQ 2018 Report
Did you know that in 2017....
- 180 new yachts over 30 metres were sold
- 149 new yachts over 30 metres were completed
- 443 yachts over 30 metres were under construction
- 30% of the yachts under construction were available for sale
- 20% of the yachts were owned by clients from the USA