Credit Crunch Boosts Interest

The deepening credit crunch and new lows for the Euro exchange rate are reportedly paying dividends for alternative approaches to yacht ownership.

Fractional ownership schemes – many modelled on the well established market in the USA – are attracting increasing numbers of sailors looking to cut costs in current markets.

One boat share club which offers members access to a range of performance yachts for a fixed fee, like supercar clubs, has seen enquiries soar in recent months. 

Pure Latitude has a £500,000 fleet of performance cruising yachts at its first base in Hamble.  It includes an X37, a First 27.7, a Dufour 34 and a 6.5m RIB, and using a points system, members can choose to sail any of the yachts.

 “As markets tighten, consumers are demanding better value and greater flexibility in their sailing,” said managing director Martin Gray.  “We’ve seen a big increase in enquiries since the credit crunch really started to bite.” 

He added:  “It’s certainly tough out in the market and it’s increasingly about added value.  I think we’re scoring over other fractional schemes because we’re delivering performance sailing experiences, making us a real alternative to yacht ownership for those who care about what they sail.”

Membership of the Pure Latitude scheme operates through a points-based system, with annual subscriptions from £2,995 to £6,995.  The club takes responsibility for capital outlay and all the costs usually associated with ownership.