Published at Monday, May 14th 2018. by daniel amoien in Cruise Ship Cabins.
Many cruise ships today have standard cabins of similar size and accoutrements with the price differential being the location. The least expensive inside standard cabins on a mainstream cruise ship run from about 120 square feet to 180 square feet. Since most cruise ships are relatively new or have been refurbished the cabins usually are tastefully decorated with twin beds that can be pushed together to make a queen-sized bed for couples. The cruise staterooms have wall-to-wall carpeting individually controlled air conditioning/heating dresser or storage space closet telephone and satellite television. The television usually has news sports local on-ship channels for broadcasting information on shore excursions or from guest lecturers and movies.
If there are many other co-owners of the ship to split the operating expenses of the ship it can be affordable for those with a moderate level of income such as a retirement check. I do have specific operating cost figures but I won`t bore you with that data. The bottom line is that it would not be prohibitively expensive for a middle-class average person to be able to afford to own a fraction of a cruise ship and be able to afford to live on the cruise ship full-time if they elect to do so.
For comparison purposes it is noteworthy that you have expenses in land based housing too. Those expenses include property taxes homeowners insurance maintenance and repairs yard care and utilities. Additionally you have transportation costs and of course food costs. Most people also spend money on entertainment too. When these expenses are added up the maintenance fees for living aboard a ship are comparable.
Let`s look at the numbers on this ship. 100% of the acquisition cost would have been $500000. 1% thus = $5000. One hundred buyers could own one percent each. There are 120 cabins so each co-owner could have a private cabin with 20 cabins left over. However these cabins are a bit on the small side. Every cabin does have a bath and shower but the size is just too small to be comfortable for most people especially if the owners intend to live onboard full time. On a ship this size I would recommend that there be no more than 60 joint owners so each can have two cabins and will have the option of converting those two cabins into a two room suite. To keep the numbers simple lets say that this ship has 50 buyers who each buy 2% of the ship. Buy in cost per owner would then be $10000. If there were only ten buyers then the acquisition cost per buyer would be $50000. $50000 will not buy much of a house on land but on this ship it would buy 10% of a ship like the Vergina Sky and twelve cabins that could be converted into a fairly large home.
The asking price for this ship is less than the price for one large apartment on The Magellan. The asking price and selling price are two different prices. This ship could probably be bought for about 11 million dollars. It would be foolish to finish this ship in a Greek union shipyard. It can be economically towed over to the nearby shipyards in Tuzla Turkey. The ship can be finished there quicker and for about half the price and with better craftsmanship. This ship could be bought and finished to a high standard equal to The Orphalese for a total cost of much less than 100 million dollars (maybe even as low as 60 million). It can be finished to order with each residential unit customized to suit its owner(s). The finished product would be a brand new completely modern ship with luxury homes onboard which would be at least as good or better than any on the market. That still seems like a big chunk of change. But this is a big ship and it would easily accommodate 200 luxury residential units and an additional 200 or so conventional cruise cabins like The Orphalese. The average cost of the residential units would be less than $500000. That would mean that the smaller residential units would cost much less than the average price. Also with an additional two hundred (plus) conventional cruise cabins the cabin owners could recoup much of the operating costs and thus virtually eliminate the maintenance fees for themselves. The expense to owners can be less than 10% of the going rates if the buyers did not need to pay some slick promoters and salesmen but just bought the ship directly themselves sharing the actual costs by dividing the ship ownership among the buyers. Why would anyone want to pay ten times as much money to buy and much higher maintenance fees for a similar shipboard residential unit? The only reason I can think of is to impress others with how much money they can afford to throw away. Again the asking price is subject to negotiation. Used ships can be refurbished to look practically new and can be brought up to international safety standards (SOLAS). There are shipyards around the world that can do good quality work at even lower cost than the shipyards in Tuzla Turkey. If a ship is currently lying in Greece (as many are) then Tuzla is the best place to tow it for major shipyard work. The SE shipyards in the Black Sea port of Nikolaev Ukraine offers the best value for the money in that part of the world. The bottom line is that smart shoppers can get good deals even on lavish purchases such as a luxury residential home aboard a cruise ship. I maintain a list of those who have expressed an interest. The list is confidential and will not be shared for any marketing purposes. The purpose of maintaining the list is to facilitate joint ownership directly between buyers without any middlemen or promoters involved.
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