Share a boat?

[Jackinthebox]

G'day fellow Ausfishers,

Here is my situation.

I would love to upgrade from the 385 Explorer to say a 5 mtr centre console so i can get outside a bit further & without having to wait for those perfect days. You know the ones, they always happen to be on a Tuesday , Wednesday or Thursday with the usual 15-25 knot SE change coming through about 3.45 Friday arvo :-) Anyway, I don't have the spare cash according to the Minister for W & F but that doesn't stop the daydreams does it?


This is my question to you all.

Has anyone ever thought of buying a boat ( or has bought a boat) with say two other keen fishos so the purchase price & running/maintenance costs are only one third of the price of going it alone? Just wondering what everyone's thoughts are on this . (or experiences if they have done it)

Ideal purchase price would be about $20,000+ which means $6000 - $7000 each. I could sell the explorer & only have to put in an extra grand or two for my share. Fuel, rego, servicing etc would then be one third of normal as well.

Options available to me are ... buying a boat from my employer(Quinnie) at an ok discount or welding a killer kit platey myself with help from said partners. The second option is realistic as I have been welding boats at work for about 5 years & am now doing the electrical & fit out stages for a change of scenery.

Bring it on fellas, good & bad! 8-)

Cheers,
Mick

[joeT]

Good idea when sharing with close friends or relatives, but how do you share the boat when the weather is good and you both want to go separate ways? And what do you do when one party wants to pull out or doesn't agree to pay certain repair/upgrade costs? Who's house do you keep the boat at? Just some issues to consider.

I know there are already some boat share schemes around with more expensive boats, but these are administered by a third party with defined rights and a berth.

Part of the fun of owning a boat is to be able to use it when you want, where you want, however you want. You lose some of these if you have to share.

[bluefin59]

Great idea mate there are a few problems that develop at times with it though 20 yr ago i was shares in a ski boat and that was great for a couple of years we were all good mates as well the 3 of us but a time did come when someone dosnt want to do what the others want such as going to different places , want to take the boat and there familys , dont want to bepart of the cost for boat modifications , things break but you get the i wasnt there when it happened story the list is endless what if someone wants out do they sell their share back to you or what , not trying to knock your idea just make you aware what can happen i found it better to just do my own thing with my own boat at my own pace without outside help start saving hard mate its worthwhile in the end at least you can say its yours ........8-) 8-) 8-) 8-)

[blaze]

quite simply can ruin good friendships
cheers
blaze

[Tony_N]

G'day Mick

I have a boat share arrangement- but it is one that might not suit everyone.

My mate bought an older boat (6m Nova Star and early 80's 140HP Evinrude 2st) for $6k several years ago. The boat needed a fair bit of re-glassing and maintenance which we did together. I bought the electrics - sounder and GPS - both Furuno and some other equipment (maybe $3k all up). As an ongoing thing I put in half of the costs of maintaining and repairing boat/motor. My mate is a very capable mechanic and he does all the work on the motor. I sometimes put in a bit of extra money if he's a bit pushed for $s. I still consider the boat his, though he calls it "our" boat.

I'm retired and he's not and so we go out when he can, not when i decide. This is not too bad for me because I have a 4.1 poly which I can use in the river and outside on a good day at the bar. He sometimes comes in my boat - not always, because my wife likes to fish on the river (but not outside because she gets seasick)

Frankly he is more competent over a dicky bar than i am - so he always takes the boat over the bar if there is broken water. We decide together on where we will fish. We share fuel and bait costs. When he's able to take the boat out I always have first option of being on board (i've never said no). We'd both like to get out more often, but on average we get out every 2 or 3weeks. My car is too small to pull the boat, but even so I wouldn't ask to take the boat out without him.

This arrangement has never been formally organised or even discussed much, it just fell into place. So far in about 4 years we haven't had a single disagreement of any consequence. It works for us, but requires mutual respect/consideration and a non-competitive nature between the partners.

FWIW

Tony

[juju]

Id go the build it yourself way....then you will get what you want...things with other people can start out ok....but it can go south easy

[kingtin]

Listen to Blaze. I've been there and done that...twice.........should've learned my lesson the 1st time ::)

If the weather was dicky, they didn't want to go but said it was ok for me to go. If they had to spend more time with their family, then the same occurred. When I said that I couldn't handle the rig on my own and could I take another mate, the answer was "yeah OK"

The truth of the matter was, that over a period of time, and with these situations occurring more often due to their family commitments, a resentment was building up that I was getting more of my share whilst contributing more to the rigs depreciation. Other folk, who I took as deckies, were accused of enjoying our asset whilst not putting anything into it, financially. I considered these gripes to be valid arguments, although it was through no fault of my own and more to do with my partner's lack of commitment to boating/fishing due to family matters.

On both occasions I ended up over-stretching myself financially by buying them out at a more than reasonable price, purely to avert any hard feelings and to not lose the friendship of blokes that I had previously had a good relationship with.

Never again. I was younger then and have since learned that friendship only carries so far amongst men with families, and that those friendships can become tested, and even dispensable, where money or family is concerned.

I advise extreme caution, although it would be nice to hear that perhaps I was just unlucky with my choice of mates (at that time) and that other folk here would hopefully have had better experiences.

kev

[snasman]

I thought off doing the same a few years back but opted out at the last second after meeting the 2 other blokes ,unfortunatly my m8 jumped in and brought the share,the 2 other blokes wouldnt let him take it out unless 1 of them was with it, 1 of the guys was a lunitic driver and tore the transom out of it at noosa, then handed him(my m8) a bill 4 a third of the repair cost (he didnt even know they had it out) then the motor was upgraded without informing my m8 another bill,the dramas he had with this went on and on.In the end 1 of the blokes sold it out from the other 2 and skipped town,I was so glad I didnt get invloved but my m8 suffered terribly in the finance dept,so if u go a head with it do it properly and get all situations covered,and good luck to you

[Cloud_9]

been ther in the it was a friends mistake.
they both bought a boat together. about 9K each.
after about 4 years the friendship was getting stretched.
on there outings the second person would say i'll bring the bait.
this was a single packet of prawns aka tweed bait.
the other would supply fuel and clean and garage the boat.
he also upgraded the boat to better suit fishing with SP's without asking for money from friend. (1200 bucks)
another year on the other friend wants to sell the boat cos he thinks he's not getting his money's wurth from his investment.
remembering he contributes a pack of frozen prawns per trip and thats it.
for the last few years.
now he thinks with the upgrade on the boat it valued at about 20K.
so if my mate wants he can buy out for 10K
they get the boat valued by assessor at 18K and it got worse before it got better. end result mate had to shellout 7500 to buy out his free loader mate.
if you have stable job shorely Quinnie has some worker buying their boat program. buy a bigger boat from them even if you have to build it yourself after hours.
just my 20 cents worth.
Cheers Cloud 9

[ffejsmada]

Don't go there mate. I was in partnership with my brother, ended up buying him out.
You work at Quintrex, You've got the contacts, build your own!!!
You're in a good situation there. Use it to your advantage.

Cheers.

[Jackinthebox]

Good stuff guys,

I had thought of most of the dramas you all mentioned. I guess I just wanted to know if they had actually happened in real life to any of you.

With all the negative experiences written so far, it just goes to show that when it comes to money, it brings out the worst in people and you need to be very careful in your choice of partners and have a contract, etc. (even though this often won't help anyway if it all goes pear shaped)

I think the trouble with me is that when I give my word, I mean it, and will not go back on my commitments unlike many people in this "stuff you jack i'm alright!" world. That's the problem though, finding another 1 or 2 guys like me.
Tony, I like the deal you have got with your buddy, it's good to hear that it's worked for somebody.

Keep 'em coming guys.
Mick

[Deiter]

How big you looking at going JITB????

[marty+jojo]

Sounds like trouble waiting to happen.
I gotta ask, how big is the jack in ya avatar? looks like a ripper.
Marty.

[blaze]

If I was you I would build the platey you want, may even mean over a few years as money becomes available, bit at a time. Then sell your cuurent boat to fiance a good second hand outboard so in the end you dont owe money, no partnerships, and you have the boat you want
cheers
blaze

[disorderly]

If I was you I would build the platey you want, may even mean over a few years as money becomes available, bit at a time. Then sell your cuurent boat to fiance a good second hand outboard so in the end you dont owe money, no partnerships, and you have the boat you want
cheers
blaze

My sentiments exactly Blaze.

JITB,
Mate ,I reckon there are a whole bunch of guys out here(me included)that would love to have the skills and experience necessary to build and fitout their dream boat.
After reading some of the above experiences I think you would be mad to put your money into a share boat.
BTW ,roughly what sort of money are you looking at to buy a pre cut kit 5m plate boat(if this is what you are thinking) and get the hull finished?

Scott

[FNQCairns]

Yeah go it alone, or else a world of hurt will be your future. Just stand at the boat ramp on any day for an hour and count the fella's you would actually choose to trust with your investment:( it aint a 50/50 punt IMO.

A work collegue of my wife has bought a 40K something plate boat with his brother as a 50, 50 split, but holds all of the debt, I wish them luck -some will make it.

cheers fnq

[Jackinthebox]

Well guys,

I think you have answered my question, it sounds like a big no go. I was only entertaining the thought and now have completely eliminated the idea. I will just have to wait and see what I can organise. Whilst I do get a discount from Quinnie, it's not much & I think I would prefer to build a solid little platey a bit at a time as Blaze recommended. That way I can set it up exactly as I like ( eg: tough as nails & set up for serious fishing & not posing!)

Dieter & Scotty, I was thinking around the 5 metre mark in a centre console but it's not much more expensive for the 6 metre kit. (I would probably do a centre cab at that size) The real extra cost is in the bigger outboard. Somewhere around the 8 grand mark will cover the hull (5mtr) . You've gotta build your own console & everything else plus the engine & trailer (say 8K for the engine & maybe 2K for the trailer) I reckon under $25 grand with everything you would ever want to put in it. You could do it much cheaper if you wanted though.

Marty, that jack was one of a couple i caught around the same time of year, I think he weighed a good 7 lbs+ & was really fat. I got another one landbased about the same size.

Thanks again everyone.
Mick.