A new company is promising to slash the cost of buying a yacht by sharing them between several owners. The Synchrony Luxury Yacht Partnership in Fort Lauderdale is setting up a new syndicate scheme selling quarter shares in a fleet of Benetti Classic 120ft superyachts.

Each owner will have up to six weeks use of the yacht a year for an initial outlay of around $4.8 million. The yachts will be crewed and maintained by Synchrony, and kept in cruising hotspots around the Caribbean, North America and the Mediterranean.

Advisor to the board Bob Saxon says: “By offering the industry’s lowest owner-to-yacht ratio, the highest calibre vessels, unparalleled service, advanced bookings and flexible short-term access, discerning owners now have a smarter option to access the luxury yacht lifestyle.”