Super luxury at an affordable price

Owning a luxury superyacht is not a cheap exercise and rarely makes good economic sense even for billionaires.

Should you find a good second-hand example of a luxury motor yacht such as a Horizon 65, it would cost around $2.5 million -- and then you would be up for around 10 per cent of the purchase price each year for running costs and insurance.

So Horizon Boats International has come up with a syndication scheme that will allow eight owners to enjoy a Horizon 65 for six weeks a year for the next five years for $350,000.

While that is not chicken feed, investing your $2.5 million in shares rather than a luxury yacht could return you around $200,000 a year -- putting a syndication partner financially well ahead of a single owner.

And how many yacht owners use their boats for more than 42 days a year?

The Horizon Syndication Program, being run out of Sanctuary Cove by Damien Hurst,  is offering each syndicate partner 12.5 per cent of a new Horizon 65 that comes complete with a full time captain and with all maintenance, marina fees and insurance covered.

While the yacht will be initially based at Sanctuary Cove, it could be moved to somewhere such as Hamilton Island over the winter months if that was what the owners wanted. Weekends and public holidays will be equally shared over the five years of the syndication and should one owner want to take his six weeks all in one slab for a slow cruise through the Great Barrier Reef, that can be arranged.

Syndicate members will be responsible for their own fuel costs and will also have to pay a fixed annual operating levy -- currently set at $19,000.

Hurst says that the syndication of luxury boats in now well-established in the US and he is sure it will appeal to many Australians. He told BoatPoint he has three clients ready to sign up now.

"As soon as this yacht is half sold, we will order another that will be based somewhere entirely different in Australia," Hurst says, "We anticipate that syndicate members will then be able to swap time on their yacht for time on the second yacht."

The Horizon 65 is a genuine luxury vessel that boasts an interior that rivals any larger super yacht. With an overall length of 65 feet and a beam of 17 feet it has vast entertaining areas in the saloon and on the sprawling flybridge.

Powered by twin 1015hp turbo diesels, it has a top speed of 26 knots and a cruising speed of between 10 and 18 knots. At 10 knots the fuel tanks give the vessel a range of 800 nautical miles.

It comes with bow and stern thrusters to make docking a breeze and is fitted with full air-conditioning, entertainment systems and a watermaker.

There is a vast master stateroom amidships and two guest cabins forward. In the bow is a queen sized bed and the second guest cabin features upper and lower berths.

The captain has his own double cabin accessed from the stern that comes complete with a small kitchen and lounge area so he won't disturb the owners.

Hurst says that while the yacht is not being used by a syndicate member and is docked at Sanctuary Cove, any syndicate member will be welcome (provided he or she book) to go aboard a entertain their guests over a few drinks. Such usage will not be counted as part of each owners six weeks of exclusive use.

At the end of the five year syndication period the yacht will be sold and the net proceeds of the sale distributed to the eight owners.

Check out the Horizon Yachts website for more information and contact details.