Signature Shares | Sportfishing Shares

Q	Who is Signature Shares?
A	The company was co-founded by marine industry veteran and long-time Galati Yacht Sales employee – Matthew V. Condon. Matt holds a USCG license and designed as a Certified Professional Yacht Broker. His passion for sportfishing and desire to provide a hassle-free experience for customers lead to the creation of Signature Shares where he serves as President. J. Rocky DeSimone is the General Manager of the company. Rocky is a retired naval officer and former operations manager of Pensacola Shipyard. Rocky is currently the President of the NW Florida Marine Trades Association. The company is an affiliate of Galati Yacht Sales, the country’s #1 ranked marine dealer according to Boating Industry magazine.

Q	What Does Signature Shares Do?
A	We sell and manage the full use of a yacht. If you think about it, boats are normally owned and used by individuals. They pay 100% of the cost of the yacht and use it about 10% of the time. Signature Shares syndicates the fractional use of the yacht with multiple people which translates to a great value for all. Plus, we manage all aspects of the yacht in an effort to make the entire experience worry-free and hassle-free.

Q	Explain what the term “fractional yachting” means?
A	A person buys only a fraction of the yacht and pays a fraction of the operating costs. In the case of Signature Shares, we sell a fraction of the use of the yacht – so the share holder doesn’t actually own the yacht or worry about depreciation or liability – it is really a lease share.

Q	Is a Yacht Lease Similar to a car Lease?
A	Yes, except there are 4 - 6 others who are also leasing the same yacht. And, like an auto lease, you are only charged for portion of the yacht that you actually use. It is surprising affordable.

Q	What are the costs?
A	Like most leases, there is a one-time initial fee and fixed monthly payments. This is your portion of the capital cost of the yacht. In addition, you pay 1/6th of the total fixed operating costs which includes items such as cost of the slip, cleaning, maintenance, and insurance. The cost of fuel and other consumables are paid by the individual share holder on an “as used” basis. All of the cost are billed monthly to each share holder and include a 15% Management Fee for the administrative services provided by Signature Shares, LLC.

Q	How affordable is it?
A	Well, that depends on the yacht of course. But, we’ve priced the shares to represent a fraction of the normal carrying costs. Meaning, a 1/6th Use Share is priced about 1/6th of the usual carrying costs of the yacht. As an example, our 32 Regulator normally sells for about $275,000 as equipped. The total capital cost of 16th Use Share is about $25,000 for a 3 year lease.

Q	Do you finance the shares?
A	The Signature Share program is underwritten in house. When you acquire a share in a particular yacht, you put down a certain amount of money and then make monthly payments directly to Signature Shares. There is no need to take out a typical 20 year boat loan. The Use Share is a 36 month lease. At the end of the lease you turn in the keys – it’s that simple.

Q	How is a owning a Signature Share different being in a Boat Club?
A	Signature Shares focuses on delivering the ultimate yachting and sportfishing experience, utilizing only the finest yachts in the word. Our yachts are acceptable by a very limited number of share holders. Conversely, a boat club typically utilizes entry-level, affordable boats and sells many more memberships per boat. They focus on providing access to boating as inexpensively as possible – and they do a great job with that. We focus on delivering the best yachting experience money can buy.

Q	Why did Signature Shares choose a fractional Lease Share instead of Ownership?
A	People understand and like the lease concept and so do we. It really works well in a share environment since you don’t know the other Use Share holders and don’t necessarily want to be partners with them. Besides, the lease share more cost effective initially and in the long run. At the end of turn, a lease share holder can just turn in the keys and walk away without having to worry about reselling the yacht.

Q	How many days does a Use Share holder get to use the yacht?
A	The lease term call for a block lease of 50 days per calendar year – which is far in excess of the number of days our share holders actually use the boat. In practical terms, you really have unlimited use of the yacht, subject to availability.

Q	How do you schedule the yacht?
A	We have a calendar on our website which is accessible anytime showing which days are available. Each Share Holder has unlimited access to the yacht subject to availability. To insure adequate access to the vessel for all Share Holders, we use the “2 & 2” scheduling rule – where you reserve the yacht no more than 2 months out and no less than 2 weeks out. We have a couple of notable exceptions to the Rule. If available, you can use the yacht the Next Day and for vacation planning, once a year you can reserve the yacht a full year in advance for a maximum of a 7 day period.

Q	Do people have misconceptions about yacht sharing?
A	Absolutely! When people first hear about yacht sharing, they assume there are compromises that go along with the savings. But in reality, the only compromise is that the yacht may not be available on a particular day. Otherwise, we think you will find the experience incredible. Think about it – the boat is always clean and ready to go, it’s equipped with state of the art electronics, it has the best safety gear, and Signature Shares manages all the details.

Q	Do you provide a Captain for the yacht?
A	The 32 Regulator can be operated by the share holder. However, we do provide a list of captains whom have met our minimum acceptable standards from which you can choose. A captain is required for the larger yachts in the fleet. Should you be interested in operating the yacht yourself, we provide a pathway for to become an approved captain. The captains charge a separate day rate for their service.

Q	Do you offer a guarantee?
A	Yes. Signature Shares offers a first for the boat business – a satisfaction guarantee! You may cancel your service at any time and not be obligated to pay any further monthly payments. This gives you the peace of mind that you are not “locked-in” to a long term contract if for any reason you decide it is not right for you.