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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.
I’m thinking other people might be in our situation of tentativeness when it comes to buying a boat right now. I’m 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. I’m 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 I’m thinking it might work for a boat as well. Price range is around $300K. Please email if you’d 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..


HOLLYWOOD
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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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