Published: Monday, 18 February 2013
Mike Fulton

Italian yacht builder, Sanlorenzo, has become the first yacht builder to set up a fractional ownership scheme using its own yachts. The company announced this scheme at the recent Miami International Boat Show. The first craft it will use is a 28-metre (92-foot) SD92 yacht.

 Sanlorenzo Shares 6  

Anyone interested in a one-fifth share of this for a mere $1.6 million?

This is a custom vessel featuring New England-style joinery and decadent Hamptons-style interiors. It has four guest cabins - two masters and two twins. One master is located on the main deck offering panoramic views and the second is a full-beam, spacious cabin on the lower deck. The expansive flybridge allows for alfresco dining and comfortable entertaining on the upper deck.

Sanlorenzo Shares Fractional Boat OwnershipThe boat's spacious and airy salon on the upper deck

“We felt now was the perfect time to launch Sanlorenzo Shares because there is now growing interest in fractional yacht ownership,” said George Jousma, president and CEO of Sanlorenzo of the Americas. “It’s the perfect option between owning a yacht and chartering. Owners can rest easy with a professional staff to keep the boat in prime condition for use all year round.”

Under this program the company will be looking to find buyers for five shares at $1.6 million each. Each shareholder will be entitled to six weeks usage of the yacht. The yacht is scheduled to spend the summer cruising the Eastern Seaboard of the US, calling at such places as Martha’s Vineyard, the Hamptons and Manhattan. It will winter in the Caribbean with a wide range of cruising options.

The owners will, having acquired their share in the yacht, pay a monthly maintenance fee of around $11,000. This will cover maintenance costs such as year-round staffing, management, insurance, transient fuel, docking, repairs and cleaning, thereby making yacht ownership an easy and worry-free experience.