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Monocle Yachts Let Owners “Live the Dream”
July 13, 2009 by Fractional & Shared Ownership Property News & Reviews · Leave a Comment
By Kat Donnell
The high seas have long beckoned adventurous souls. For those who heed the call, water is the blood that runs through their veins. Over time, the boating experience has changed, as new technologies have developed. Today’s seafarers and captains can roam the seas in floating palaces.
Floating palaces where liabilities such as insurance, repairs or maintenance are left on shore. Traveling the waters of your choice, in the luxury of your own yacht without the headaches and costs of sole yacht ownership. “In our present economic environment, fractional ownership represents excellent value,” said Dr. Loren Simkowitz, Director of Operations, Monocle Yachts. “Owners want stress free vacations, floating in the lap of luxury with all amenities onboard.”
Monocle became the pioneer of fractional yacht ownership when they unveiled their program in 2001. The concept of fractional yacht ownership is to take the last hassle out of luxury yacht ownership – the wasted time that a yacht sits waiting for its owner – and in the process they created a new business model. Owners buy the portion of the yacht that they will use and in the process buy a portion of an asset that offers tax benefits and also has resale value. Monocle’s fractional yacht ownership program comes with high standards of management and also provides an opportunity for people to enter the world of luxury yachts and to have pride of ownership. Eight years later Monocle represents all of the major yacht manufacturers around the world and have the largest fractional fleet in the world with offices in South America, Dubai, France, Greece, Hong Kong, Singapore and Australia.
“Monocle started with the vision of enjoyable yachting. We eliminated the aggravations of luxury yacht ownership for our clients by handling all of the daily tasks of managing a luxury asset from selecting the best crew members, to searching for the lowest prices on fuel, through to stocking our clients’ ships with everything from cheesecake to champagne,” said Simkowitz.
Monocle Yachts is the ultimate management company. The group works with those who want to take on partners in their own boats, they buy or they contract to build their own. All of their boats are either brand new, or brilliantly reconditioned, fully furnished pedigree yachts. The company takes care of all maintenance, repairs, supplies, insurance and provides a fully screened and highly trained, professional
crews that are compatible with the owners. The yachts are equipped with the latest electronics for television, internet and voice communications. They also provide wave runners, tenders and snorkeling equipment. The focus is on the owners and their total yachting experience.
The fractional program offers ten 10% shares of each boat. The net cost of the yacht and all expenses are divided into shares. Monocle is the only management team that does not mark up any yacht expenses, allowing owners to only pay 10¢ on the dollar. Each 10% share gives the owner two, two week periods of use in different locations, usually the Caribbean in the winter and New England/ Mediterranean during the summer months. Other favorites include the Florida Keys, Bermuda, Costa Rica, the South Pacific and Middle East. The owners become shareholders in the LLC that owns their particular yacht. Owner’s can exchange weeks on other yachts in the program throughout the world.
The Monocle Yacht fleet is comprised of 50 yachts ranging in size from 100 ft to 240 ft. The number of staterooms range from three to twenty. All include beautiful and luxurious décor as well as fine china and linens.
Yachts in the fleet include:
Casa de Mare
Length: 145’
Beam: 26’
State Rooms: 7
Cruising Waters: Caribbean
Clear Eyes
Length: 128’
Beam: 29’6”
State Rooms: 5
Cruising Waters: Caribbean, Mediterranean and South Pacific
Margaux
Length: 116’
Beam: 22’
State Rooms: 3
Location: Florida, Bahamas, New England, and the Caribbean
Ocean 105
Expedition Yacht
Powered by Diesel-Electric
Length: 105’
Beam: 28’
State Rooms: 6
Cruising Waters: Australia, New Zealand and Pacific Islands
Limelight
Length: 100’
Beam: 21’
State Rooms: 4
Itinerary: Caribbean (Winter), Mediterranean (Summer)
Delivery Date: Just Arrived, currently being outfitted
With the present economic climate, fractional ownership offers the best in of all worlds with regard to amenities, convenience and cost while still offering the full advantage of ownership. It is a trend that is seeing a rapid increase and has dispelled negatives that in the past have been attached to the time share concept.
“We believe our current growth rate will actually accelerate despite the global economic slowdown. We both attract new people to yachting and retain a core group of experienced clients who want a more responsible approach to luxury yacht ownership. But we are also seeing signs of cross-over from other luxury business lines and industries. People who have previously purchased vacation properties or high-end timeshares are attracted to the Monocle Fractional Yacht Program because of the luxury, variety, and value it offers while providing equity.
People who have chartered luxury yachts for years find Monocle’s cost advantage compelling; they enjoy the use of a luxury yacht for a longer period of time at a lower cost. We are also finding that people who already own a fractional luxury asset such as a jet understand and appreciate our business model. Finally, we are seeing some cross-over from cruise line devotees who appreciate the flexibility in scheduling ports of call without sacrificing any of the luxuries,” added Simkowitz.
Monocle Yachts is in the process of building and introducing their first cruise ship, a 100 cabin liner. For more information contact Monocle, (954) 563-5808 or visit www.monocleyachts.com
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