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Old 04-07-2011, 07:55   #1
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moorings owners program

I am considering buying a 47 Leopard power cat to operte in theBVI under the moorings owners program and would like to correspond with any owners in this program who are willing to share their experiences.

I am more interested in the maintenance issues and the wear and tear of having active usage and the condition that the boat is maintained in. Also whether the owner usage program works as well as advertised.

At my age (76) I will probably hire a capt and crew for my personal use of the yacht.

Also is it a good idea to set up a BVI company to hold the ownership?

Any input is appreciated

John King
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Old 04-07-2011, 08:31   #2
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Re: moorings owners program

I have a Monohull in the Moorings program that just had it's last day in the Moorings yesterday and will be spending one more year in the footloose program. I was just on it a few days ago.

My boat certainly has had more hard use than it would have had not in charter, and has a few more dings, water stains on the interior teak, etc. However, I feel they have kept it in sail ready condition as promised. The list of maintenance they provide me each year is quite extensive. It's certainly needs less attention that most boats I've looked at for sale from private individuals who have often let many issues build up by the time they sell the boat. I feel I could sail it back to the States as is without any worries and probably will do just that next year.

In my opinion the money saved by having no maintenance, no insurance and no storage more than makes up for any extra depreciation. Add to that a 40+% guaranteed income and it's clearly been much, much more affordable than owning a boat not in charter. Even though it's the most expensive boat I've ever purchased, the cost of ownership has been the least of any boat I've ever owned (4 cruising boats)

If I had the disposable income to trade into a catamaran with them for my next boat, I'd do it in a heart beat. The problem I'm running into as one a tighter budget is that the cost of their entry level boats has gone up from under 120K to about 200K.

If you would normally charter a similar boat for more than 2 weeks per year, I think charter management is likely a better option. If you would buy a similar boat and only sail it 8 weeks a year, I think charter management is likely a better option. However, if you would otherwise buy a boat costing a fraction as much or want to sail it more often, the trade-offs become less clear.

An added bonus, more difficult to measure financially is the benefit of not having to worry about maintenance or spend time working on the boat. Just show up in a wonderful cruising destination and go cruising that day.

Feel free to message me if you have any other questions.

P.S. - While my boat is in Tortola it is a U.S. registered yacht. The cruising permit is covered in the owner's time or turn around time fee.

P.P.S - I should add that I purchased my boat before the Moorings was purchased by what is now Tui Marine, owner's of Sunsail. So far, I have not noted any appreciable difference in how my boat has been managed as a result, but can't speak to future changes.

- Dave
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Old 06-07-2011, 07:45   #3
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Re: moorings owners program


Thanks for the input- very helpful


John King
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