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Old 03-21-2020, 09:57 AM   #1
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Would you like 1/2 of a boat

We are in the process of a purchase. We are concerned about the purchase given the current situation. Equity markets dropping, future economic climate, etc.
Iím thinking other people might be in our situation of tentativeness when it comes to buying a boat right now. Iím just going to throw this out there. If you are interested in talking about a partnership on a boat, please contact me via email. Location would eventually need to be South Puget Sound. We have a boat under contract. Iím happy to provide details for serious potential partners. I am a pilot, have owned an airplane by myself and now own a much nicer airplane with a partner. It allows my wife and I an opportunity to own a much better airplane, sharing fixed costs etc. with a partner. The partnership has worked well and Iím thinking it might work for a boat as well. Price range is around $300K. Please email if youíd like to have a conversation and to learn about the boat we have under contract.
Knewman172@gmail.com
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Old 03-23-2020, 09:52 PM   #2
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I guess it would depend on which half.
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Old 03-23-2020, 09:54 PM   #3
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Photo of wife would probably help.
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Old 03-23-2020, 09:57 PM   #4
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Photo of wife would probably help.

she probably isn't part of the "standard equipment" list..


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Old 03-24-2020, 01:10 AM   #5
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Interesting. Are boat partnerships common in US? Seem to be a number of them here in Australia. One of our Sydney TF members has one. And syndication, where there might be up to 10 "owners" sharing the boat, though how that works I can`t imagine.
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Old 03-24-2020, 07:39 AM   #6
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I'd avoid a partnership. I've never heard of any good coming from them.

On the other hand, some folks are really happy joining a "club" where membership allows them use of a fleet of recreational boats. It's a way to share the costs of ownership without as many one-on-one conflicts.

I think it's an ideal solution for a lot of boaters. Those to whom boating isn't their life, but an occasional side activity. Also for anyone not interested in doing all the maintenance. In the end it's probably cheaper than owning, especially if you hire out most of the work. You just show up, take the boat out, come back and hand over the keys.
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Old 03-24-2020, 08:17 AM   #7
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I have considered the advantages of a partnership but the Admiral and I are pretty spontaneous about boating. Sometimes we make weeklong plans only a few days in advance. Often we drop plans at the drop of a hat, usually weather dependent.

In fact, whenever we make boating plans we always have a "plan B" on the back burner.

I don't think a partnership would work very well for us.

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Old 03-24-2020, 08:28 AM   #8
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Photo of wife would probably help.
LOL You sick bastard.
It might be a set up.... end up with his wife and he would not need to sell half the boat to someone else.

Personally I think, selling a partnership in a boat to someone else is like buying a time-share. I knew of one boat 4 person partnership and a big Hatteras .... it was not pretty. Everyone was best of friends until then. Simple things like, who gets the big stateroom, who cleans up the galley after a meal, who cleans the heads,.... it is just not worth it. Buy a smaller boat and enjoy it.
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Old 03-24-2020, 09:24 AM   #9
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I've done two boat partnerships, both on sailboats. In a past case, 3 of us were joint owners and split all costs. In my current case I'm sole owner, but 3 partners pay monthly for the privilege of using the boat and that pretty much covers my expenses. In both cases, the partnerships have worked out very well, but I was able to stack the deck in my favor by selecting friends I knew well.

I suppose I could consider my tug as a partnership also, as I have it in charter. That's a whole 'nuther way of affording a boat beyond your means, with it's pros and cons.
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Old 03-24-2020, 10:34 AM   #10
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Twice I've entered into boat partnerships, each time 50/50 with other guys who I trusted and considered responsible and reasonable. Each time it didn't work out, I guess owing to an accumulated list of fairly minor things we felt differently about. Took a lot of time and diplomacy to preserve the friendships after dissolving the partnership. I tend to believe we should live our hopes, not our fears, but my take away was, never again.

One evening over drinks at the yacht club bar with a group of boating friends, this subject came up. Turned out each of us had been in boat partnerships before. As soon as I finished saying, "never again," another guy chimed in and said, "I'll never do it again," and then the next guy said the same thing . . .

Your mileage may vary though, so good luck!
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Old 03-24-2020, 11:01 AM   #11
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I’ve thought about a partnership several times, but I’d probably be the problem. My boat’s old and I’m just to picky about how things need to be done. Plus, someone else would never agree to fund my “improvement” projects. Not worth the heartache.
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Old 03-24-2020, 11:03 AM   #12
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Partnershiups

I have been in lots of business partnerships and rarely had a problem, but only because it is fairly easy to define each party's financials rights and obligations, and to define decision making authority. Only one has ended in litigation, and only because a "silent" partner sold (as permitted by the partnership documents) its interest (really just an economic interest, since there were no relevant control rights) to a buyer who doesn't understand the concept of "silent" partner. With boats, those issues are really difficult, and normal deadlock disputes (like buy-sell provisions) don't work well with assets whose value is not strictly economic, particularly if both partners can't easily write the check to be buyers or sellers. So, I would never be in a boat partnership, but have seen it work with three partners whose decisions are made by majority rule, with caps on contribution obligations. The third guy died, but left his interest in the boat to the other two. Problems began when there was no majority to rule.
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Old 03-24-2020, 01:05 PM   #13
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Photo of wife would probably help.
Would you say that to a man's face? If not, why here?
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Old 04-02-2020, 03:27 AM   #14
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I was a broker a long time ago dealing primarily in sailboats. I saw and dealt with a variety of partnership situations, and they almost all were remarkably successful. It can be done.
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Old 04-02-2020, 08:14 AM   #15
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I recently read on one of the sailboat forums about a guy who had 1/4 interest in a partnership. He loved it - in part, because none of the 3 other partners took out the boat!

Personally, I would not be comfortable in a boat partnership. I would rather, buy a smaller boat or join a club.

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Old 04-02-2020, 09:20 AM   #16
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Would you like 1/2 of a boat

A friend of mine had a partnership with 9 other couples on a large houseboat on Lake Powell here in Utah.
For the most part it worked well, sharing costs, repairs, etc., UNTIL one couple decided not to clean the boat after using it and another damaged a part but would not own up to causing the damage and the repairs.
Things went down hill from there.
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Old 04-02-2020, 09:45 AM   #17
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I am a pilot, have owned an airplane by myself and now own a much nicer airplane with a partner. It allows my wife and I an opportunity to own a much better airplane, sharing fixed costs etc. with a partner. The partnership has worked well and Iím thinking it might work for a boat as well.
Funny this post popped up at this time as I'm thinking of doing that exact thing. I have a very good friend who has a larger boat than mine but is considering selling it. He is the Felix Unger of the yachting world & I offered him 1/2 of my boat. I don't want to sell the whole boat and he would be the perfect partner. So far he has not accepted but I still have hope. I don't use the boat nearly as much as I did several years ago and this would provide an opportunity to have the boat used more, and defer costs. I believe partnerships can work well if one knows the partner really well. Why not buy half of his boat? My wife likes our boat better and it's more up to date than his. Better electronics, etc. The photo is of my boat.
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Old 04-02-2020, 07:05 PM   #18
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I've had several partnerships over the years.... planes, boats and houses.


Most have been very successful, but a few failed. The ones that failed I went to the partner(s) and said: "Lets sell it and save our friendship." All but one worked that way.


The very best partnerships I've been in is where ONE person controls the whole thing, and the others can get out with reasonable notice without a huge penalty. Like a club or rental situation. I've taken both sides of that and it's worked well.



I have something like that with my plane right now. However, we just don't use it much and it has more capability than we need, so I'm going to sell it and down size and may add another partner. Much more practical.


One, thing..... if all the partners just felt like they had to just bring a tad more than their share, it would work fine.
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Old 04-02-2020, 10:30 PM   #19
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Would you say that to a man's face? If not, why here?
It's kind of a common web joke. Don't think it was meant to be taken seriously or with malice.

Besides if he was there, his wife might be as well and you wouldn't have to ask....
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Old 04-03-2020, 02:11 AM   #20
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and the next question is, send picture of boat.
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