11/08/2023
Don’t let the high cost of yacht ownership spoil your dream come true.
The Yachting Dilemma
We all experience major events in our lives which create memories both good and bad. For boaters, the happiest days are the purchasing of the new family vacation, “our yacht.” For investors, it’s the excitement of a new venture.
For all of us it is a big decision. We spend years planning, investigating, and visiting boat shows, speaking with marine vendors and yacht brokers, checking magazines, making financial inquiries and arrangements, hiring a captain and crew, all leading to the culmination of our dream, “owning a yacht.”
Twelve months pass and we see our dream yacht now listed in the “for sale” section of the magazines.
So, what happened to this family and business dream? Why is this yachting treasure, which took so much planning, effort, and money to create, now listed in the “for sale” roster? Why has our dream become a nightmare?
There are many problems inherent with yacht ownership. First, many of us have a demanding career that is all-consuming. There are business, family and social obligations of every type that require our constant attention. We frequently live in another area or other part of the world from where our yacht is berthed and must rely on our captain and crew to protect our investment and floating assets. With little or no yacht management experience, owners attempt to manage this multi-million-dollar asset through the phone and through the eyes of our on-site employees. In a short time, we realize that owning a yacht has become a gigantic commitment and overwhelming responsibility of our time, sapping our energy, money, and nerves. Our original dream becomes a battle of Herculean proportions.
We finally give in and give up our dream. Our dream is stolen from us by the never-ending high cost of repairs, suppliers, shipyard work, and crew personnel problems.
The Solution: Monocle Yacht Management
Monocle Management has provided successful, comprehensive multi-asset management services since 1965, and now offers these same services to the yachting industry.
