Mike Costache launches timeshare yachts in Romania

Mike Costache, country manager of Maserati and alliance partner of Warren Buffet-held NetJets in CEE (Central and Eastern Europe), has launched PrivatSea on the local market, which offers the possibility to rent out luxury yachts in any area around the world. PrivatSea operates a timeshare, a principle quite similar to how NetJets works, which gives its members the ability to purchase a certain amount of flight time per year, whilst the maintenance costs are shared between those who benefit from the fractional ownership of the aircraft. “This is an alternative to buying your own yacht, which in some cases you only enjoy for two days: they day you buy it and the day you sell it. This is because some customers are not aware of the maintenance costs that can arise,” said Mike Costache, PrivatSea partner for Israel and for 10 countries in Central and Eastern Europe. The company has a fleet of 84 luxury yachts available, which range from 30 to 122 metres in length, located in the East and West Mediterranean, Florida, Bahamas, Caribbean and Pacific. The access fee to become a member of the PrivatSea club stands at 12,000 euros for individual members and of 15,000 euros for corporate members, with the acquisition of timeshare rights being based on a point system, each point being worth 100 euros. The cheapest yacht available for rent via PrivatSea is 31-metres long, can accommodate 6 people and costs 23,000 euros per week, while the most expensive yacht measures 122 metres and can accommodate 80 people, at a price of 630,000 euros per week.