Fractional ownership in the yachting world is a fairly new concept, with Yachtplus being the chief player in the UK market. It has already sold three 41-metre yachts for approximately £12m each while the next one will be sold at just over £14m. There are nominally eight chunks of five weeks sold, although some owners have actually bought more than one. The yachts are strikingly different from anything else on the market as they have been designed by Norman Foster, arguably Britain's most renowned architect. The boats will be transported between Europe and the Caribbean annually, so that the costs are shared equally. The rough calculation is that this system of ownership halves the normal cost of chartering a boat privately.
A similar venture is the newly formed Whistlejacket Club, which is currently refurbishing a 74-metre yacht for launch next year. Founded by Nicholas Edmiston and Michael Fenton, this €32 million super yacht is more like a floating boutique hotel than a conventional yacht. Up to a maximum of 175 members each put up a refundable £160,000 and then £8,500 annually for the right to spend ten nights in a twin cabin each year.