May 24, 2021 – West Palm Beach, FL – Saveene Corporation www.saveene.com has unveiled its latest program, which offers four units or 25% ownership of a 64-foot, fully managed turnkey yacht providing individuals the opportunity to experience all of the benefits of owning a yacht without the financial commitment and maintenance headaches.
“Yachts make sense owning if they can be monetized and used daily, not sitting still in a marina. Fractional yacht ownership works because your yacht is always in motion, creating revenue and reducing your capital expenditure,” a company representative said in a statement.
Saveene Corporation, (a fractional yacht ownership company in West Palm Beach Florida), said one unit would be retained by the current management and owners of the yacht. One unit has already been sold as of May 2021, and two units remain available.
Each unit is capitalized at $395,000 for a full 25% fee simple rights title and ownership of the vessel. Each unit is entitled to a full three months usage on a yearly oscillating basis.
“For example, in year one, you would be using the vessel for January, February, and March. In the second year, your usage would be April, May, and June, and so forth for the third and fourth year,” the representative explained.
The yacht is in West Palm Beach, Florida. The owners live in Florida, so swap/time exchange arrangements can easily be accommodated.
After four years, Saveene will re-evaluate the yacht, and either it will require a one-time Capital Improvement, or it will dispose of the vessel and split the proceeds of the funds accordingly.
“Your quarterly usage obligation is $18,000. This sum can be paid monthly at $1,500 per month. This sum includes Mooring costs, insurance, and maintenance. Captain Crew and gasoline for your journey is at an additional cost,” the representative explained.
Saveene Corporation said it has a full-time captain and crew that can take owners anywhere in South Florida and the Bahamas. Saveene said the yacht was built in 2009. The vessel underwent a $500,000 mechanical and cosmetical retrofit. It has a blistering AAAA survey.
Saveene Corporations’s latest fractional ownership program provides yacht owners with a truly private experience at a mere sliver of the purchase price of a typical motor yacht.