Update BOATING CO-OP IDEA

[sclmarine]

It would seem that this will indeed "take off".. 12 month trial successfully completed overseas and now taking place in NSW and QLD.
Kinda like "time share holidays" but heaps more flexible.

[NQCairns]

Ok is that where a boat is leased by the co-op then someone buys a portion of the lease plus storage/maint/co-op fees/whatever with the option to pay it out end of term as a group or individually? Leasing a depreciating asset is great if there is a tax angle but for joe-blow it's a good way to throw money away big time, is there any worse asset known to man than a boat? nq

[Kerry]

"Time share" does that equal "cost share" or is it a case of who ever stuffs it fixes it as one could imagine some of the costs could be quite horrendous.

[smiley=oops.gif] sand bar, nobody saw that 8), won't say a word :-X as everybody [smiley=bigcry.gif] can "share" the cost down the track when that slightly bent prop shaft (or similar) chews out an expensive fix.

Cheers, Kerry.

[sclmarine]

Hmm... well not quite. Perhaps "Co- Op" was the wrong sort of wording, but as this is a fairly new type of service... proper english fails me at times!

In this case there are NO other costs / fees / responsibilities / etc. Nor does it have anything to do with ownership of vessels... only the exclusive use of them for a set period of time.. like "hire."

The product is a fully serviced / crewed / catered large vessel for the exclusive use of a person or group at 24 hours notice. Like "long term chartering", only with a great deal more flexibility. The time is bought for this in advance which then gives the person the right to have a suitable vessel at his / her disposal for any purpose. This time (broken down into days) must be used within a set period.

Common blocks are 60 / 90 / 120 / 180 days to be used within 12 / 18 / 24 months. So if someone bought time for a vessel capable of carrying 15 pax (day) @ 120 days they have the exclusive use of that boat and its facilities for any purpose for 120 days in total. Some have made up fishing charters and sold these without having to separately charter vessels, much less owning the damm things! Its like having a large boat... all crewed completely at ones disposal without the hassle of any ongoing fees, or paying extras like fuel, strorage, etc. If the use is there, it can be extremely cost effective... but large boats are not cheap at the best of times. Those that may have chartered them for a day can relate to just how expensive they can be. Imagine chartering a vessel @ $250 per day... (not including fuel, etc)... for 120 days over 18 months. That adds up to over $30,000 plus whatever fuels and extras need to be paid. The "Co-Op" idea can provide a far better rate, with no extra expenses.

(Hope that may make things a little bit clearer)

[gunna]

They are starting to push this concept in Sydney. A big cruiser was set up in Martin Pl the other week that you could walk through - and get the high-pressure sales pitch. It was like going to a pyramid selling seminar. The attached link is the type of boat on offer.

http://www.adventuretechnology.com.au/lbcp/cruisers/sundancer_315.html