Yachts Fractional Ownership: Yachtsmen who go boating 20 to 30 days yearly are viewing fractional ownership as a favorable alternative compared to full ownership or chartering a yacht. Miracle Yachts of Fort Lauderdale, Florida, offers fractional ownership through an LLC agreement. Owners have access to their yacht up to 30 days yearly in allotments of three up 14 days. There also is the option to purchase additional shares to secure more yearly usage. The firm currently is offering shares in a 72-foot Cheoy Lee and a 62-foot Azimut. The company's plan is to expand its fleet and number of ports. Miracle Yachts has coast-to-coast port locations in Fort Lauderdale and Marina del Rey, California.
The term of a fractional ownership is three years, after which the yacht is sold and owners receive their share of the proceeds from the sales less brokerage commissions. In most cases, the monies received from the sale of the yacht are used to purchase a new yacht. Owners are offered first right of refusal to have an ownership stake in the new vessel. Generally, maintenance and management fees range from $25,000 to $30,000 annually. Over a three-year period, M&M fees of fractional owners are nearly 90 percent less than for sole owners. Fractional ownership versus chartering a yacht over the same time frame is initially 10 to 15 percent less. However, if the monies received from the proceeds of the sale are returned to the fractional owner, the cash layout of a fractional owner is substantially less than chartering a yacht for the same amount of days.
A two-staff crew is provided for all cruises. Both luxury-latent yachts have three cabins and can accommodate up to six passengers. Miracle Yachts' end game provides measurable pleasure with carefree luxury cruising with a wise eye on the bottom line.
For LxM James Rothaar
Company: Miracle Yachts
Business: Fractional Ownership Offerings
Location: Fort Lauderdale, FL
Web site: www.miracleyachts.com
Contact: (214) 773-2667 / Management@MiracleYachts.com
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