Sanlorenzo Shares launches in Miami

The first fractional ownership scheme from Sanlorenzo launches this week at the Miami International Boat Show. Sanlorenzo Shares, which uses a yacht from the Italian builder's Semi Displacement Range, the Sanlorenzo 92, as its first model, is a relatively unique example of a yard promoting its own yacht for fractional ownership.

The SD92, a 27.65m motoryacht, with tender garage, spacious flybridge for alfresco dining and ‘Hamptons’ style interior design, is based on joint ownership between five owners. Promoted first to the US based market, options for cruising in the summer months include: Annapolis, Baltimore, Atlantic City, Manhattan, Newport whilst for the winter, the Caribbean locations of St. Thomas, St. Croix, Antigua, St. Barths, St. Maarten, Bahamas and Turks and Caicos are offered.

The ownership works in the form of a business, in that an LLC is formed with each owner becoming the shareholder in the LLC that owns the yacht. There is no limit to the length of time each owner can spend on the yacht, although presumably each will want the time divided fairly.



Philip Burroughs, Director of Sanlorenzo Shares, believes the scheme will invigorate a model for ownership that has so far seen sporadic success:

Sanlorenzo Shares is, he says: “a big shift from the days where it was just a dealer or third party company trying to sell shares in a yacht. The shipyard being your partner is prestigious and adds a level of credibility no other fractional program can match.”

Burroughs also argues that the concept will appeal to those owners for whom a new build is stretching finances a fraction too far:

“Building your own vessel is incredible, it just costs five times as much. I believe the successful marketing of fractional yacht ownership is directed to busy individuals who love the idea of yachting but do not have the time to spend aboard to justify sole purchase.”






The Sanlorenzo 92 is one of two examples this year of builders investing in fractional ownership. Curvelle’s 34m catamaran, Quaranta, launches at the end of the month and has been designed with access for the infirm and elderly in mind.

The SD92 can be seen at the Miami International Boat Show, 14-18 February, at the Sanlorenzo display opposite the Fontainebleau Hotel, 4441 Collins Avenue, Miami Beach.

Profile links

Sanlorenzo - Cantieri Navali di Viareggio

Curvelle

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