Company offers new fractional ownership program

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Quartershare Yachts International has launched a program offering 25 percent ownership in a luxury yacht.

Quartershare owners will have the ability to use their boat or an identical vessel in the fleet for 10 calendar weeks per year. Owners also pay 25 percent of the fixed operating costs.

“A $4 million boat suddenly costs $1 million, a $10 million vessel now costs $2.5 million and a $40 million yacht costs $10 million. The owners do nothing except enjoy their time on board while retaining the asset benefits of ownership.” Quartershare president and co-founder Andy Kimbel said in a statement.

Quartershare Yachts plans on hiring crews and customer services representatives in order to staff vessels and operational hubs in early 2009.

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