WELCOME TO FLORIDA’S SUPERIOR BOATING EXPERIENCE
Sovereign Boat Fleet was founded in 2019 to offer upscale powerboats to people who want a first-class boating experience — without the high cost of ownership, or the sub-par experience of low-cost boats used by mass-market clubs. Boats in the Sovereign Fleet range from 27’ to 31’ in three locations: Palm Beach, St. Petersburg and Bradenton/Cortez, Florida. All of the boats cost from $250k to $320k, and are best in class.
Here is a list of some of the benefits of Sovereign Boat Fleet
- Full day usage every day, including weekends
- All boats have a joystick or bow thruster
- Electric-flush heads
- All boats can go up to 50 miles offshore
- Multiple-weekday overnight trips available
- Easy-to-Use reservation system
- No annual dues for charter packages
- No monthly fees
- Reciprocal boats available in Palm Beach, St. Pete, and Bradenton
- Hands-on boat operation instruction is available
- All boats are equipped with chart plotters and VHF radios
- Boats are available all day during marina
WHY SBF CHARTER PROGRAM IS MUCH BETTER THAN OWNERSHIP
High Cost to Buy
Most new boat prices have gone up 35% or more in the last 5 years. Tariffs, supply chain issues, labor rates and increased costs of raw materials all conspire to make boats more expensive each year. This is a 30-year trend, and it shows no sign of changing – and, it can’t change because of inflation, if nothing else.
What’s Your Time Worth?
In addition to the expense of boat ownership, the time involved for an owner to manage and maintain a boat can easily exceed the time spent on the boat for pleasure. What do you charge an hour – or day — of your time?
Annual Operating Expenses Going Up
Limited slip availability, fewer tradesman to do repairs and maintenance, and increasing insurance claims from hurricanes have all caused expenses to significantly increase.
What, Me Worry?
If you own a boat the answer is “Yes!” Potential problems on your boat are everywhere: a leaky hydraulic pump, a split raw water intake hose, a frayed electrical wire, galvanic corrosion... that’s just the beginning. Maintenance costs grow as boats age.
Borrowing Cost Uncertainty
Low interest rates that lasted for nearly 14 years after the Great Recession have given way to the Fed’s high-interest rates to tame inflation. There is no end in sight, say analysts.
Asset Depreciation
An industry rule of thumb is that the value of a new boat drops 25% upon delivery and after 4-5 years of use it will be worth 40% to 50% of the purchase price. Making matters worse, in the same five-year time period, the value of the dollar may have dropped 10% or more.
THE ADVANTAGES OF THE SOVEREIGN PROGRAM
- No annual dues for most usage
- No monthly fees
- Rent a boat only for the number of days you need
- Pick the rental package that best fits your life-style
- Daily Rental: $825
- 5-Day Rental Package: $3,595
- 12-Day Rental Package: $6,950*
- 25-Day Rental Package: $9,995*
- Unlimited Membership: $12,950*
*Low-cost monthly terms available.
- Reserve Up to 4-Days at a Time
- All boat charter operators become qualified boat handlers
- The boat is reserved for full days, even on weekends
- Consecutive multiple-day bookings are available
- Overnight cruising charters are encouraged
- All boats are seaworthy and may be taken up to 50 miles offshore
Low-cost, Small Boat Clubs
The largest boat clubs are designed for entry level boaters on a limited budget. Boats that cost $25-50k typically don’t have amenities like toilets, joystick docking and dual engines. And, usage is limited to half days if you are lucky enough to get a reservation at all on weekends.
Day Rentals
Ideal for non-boaters who go out once or twice a year. These boats are usually kept at their owner’s house or on a trailer. The quality, amenities, and condition of the boats vary. For insurance reasons, rentals often require a licensed captain.
Yacht Charter
Bareboat yacht charter companies operating in exotic or desirable locations, such as the Caribbean or the Bahamas, last a week, and cost $18k or more in high season. Crewed charters of large boats typically cost $40k or more per week, depending on the size of the boat.
Fractional-Ownership
An option usually limited to large boats costing several million dollars — fractions are usually kept to 25% or more. All costs of buying, annual operation, and management is borne by the fractional owners. Four-to-five-year commitments are usually required, but ownership is typically transferable.
“It’s like owning our own boat, but way easier. The cost is similar to other boating programs, and much less, if you use the boat a lot, but what you get is a whole other level. If you compare their costs versus owning a boat of this caliber, there’s no contest.”
– SBF member Member Tom S
“I’ve been a member of a mass-market boat club for over ten years. It was nice for a period of time, but their vessels were mediocre and not suited for my needs. It was also not convenient to wait 1 month out, at minimum, for a boat on the weekend.”
– SBF Member Tim T