Frequently Asked Questions

What does membership in our Tartan 3400 or our Camano 31 include?
Membership consists of the use of our 2006 Tartan 3400 sailing yacht or our 2006 Camano 31 trawler (or a half-share of each) for at least 30 sessions during the season from May 17, 2008 to October 12, 2008. A “session” is either the time period from 10 AM to 5 PM or from 5 PM to 10 AM the following morning (except in October when each session lasts a full 24 hours). Members are entitled to at least two holiday sessions per year and at least two weekend sessions per full month. Extended cruises of up to six full days can be scheduled, but can only include two weekend sessions. Sessions are scheduled in advance of the season and the process is designed to ensure that all members have equal opportunity to enjoy the yacht. A membership also entitles the member to unlimited use of the yacht for any unscheduled sessions at no additional cost (except for fuel for the Camano 31) on a first come-first served basis, scheduled no more than 24 hours in advance. There is no obligation to continue the membership contract for succeeding years, but members who renew for the following year will receive a 3 percent discount off the annual rate for that year.

What is the cost of membership?
For 2008, membership costs are as follows: the Tartan 3400 is $4995, the Camano is $5595, and a half share of each is $5295.  Each membership fee is all-inclusive with full use of the yacht for a minimum of 30 sessions, as well as insurance, all fuel (except in the Camano where diesel fuel is the member's responsibility), water, electricity, pumpouts, maintenance, and weekly cleaning. Members have no obligation for docking fees at the Marina at Marble Island, winter storage or any other annual yacht-related costs. Any ice, food, drinks, or other provisions, as well as any dockage or other fees at other marinas that you might visit are the responsibility of the Member. A fully refundable security deposit of $500 is required for each membership share.

How much yachting experience do I need to become a member?
Members must be (or designate another boating companion to be) the yacht captain, who must be in command of the yacht for each session used. You can qualify as a captain if you have demonstrated experience sailing or operating similar boats on Lake Champlain or similar bodies of water, or if you are certified as a bareboat charter captain. If you have little or no experience, you may also become certified as a captain by taking any approved cruising, racing or bareboating certification course before the season, or during the season on the yacht with a certified instructor. At the beginning of each season the company will hold captain orientation sessions to ensure that each captain is fully familiar with boat handling and systems, communications, emergency procedures, etc.

How are sessions allocated among members?
The company will allocate sessions on an equitable basis to each member before the beginning of the yachting season. Each member may be allocated time in each month of the season. Member allocations may include at least two weekend sessions per full month, two holiday sessions during the season, and the opportunity for extended usage during the week. In addition, we will make every effort to ensure that members have access to the yacht on birthdays, anniversaries, or other special events. Members will provide the company with their preferred session dates and times (including any special dates) before the beginning of the season so that equitable allocations can be made. Any member joining after the preseason allocation date will be able to only select sessions that remain available.

Can session reservations be changed during the season?
Yes. All session reservations are maintained on-line with access by each member. Scheduled sessions may be exchanged for any available session after the beginning of the season within 48 hours of the start of the scheduled session, or you may exchange sessions with other members by mutual agreement. No changes may be made within 24 hours of the start time of the session. The on-line system is also used to identify unreserved time that can be reserved within 24 hours of the session start time on a first-come-first-served basis without additional charge.  (Except for fuel for the Camano 31)

What if the weather is so adverse that you are unable to use your session?
If there is a small craft warning that makes sailing or cruising imprudent, session time may be exchanged for another session with the approval of the company. No exchanges will be possible for other weather concerns such as rain, lack of wind, temperature, etc. No credit can be given for allocated sessions that are unused by the member.

What are member obligations before, during and after each use?
Simply arrive at the marina at the specified time ready to sail or cruise with necessary food, beverages, ice, clothing, and linens, if needed. When you come aboard, please fill out the checklist on which you will record the condition of the yacht. At the end of your time aboard, review and complete the “end of sail or cruise” checklist to ensure that any needed supplies are noted and that all systems are secure. Camano members will also record their fuel use.  While there will be weekly stem to stern cleaning of the yacht, your obligation is to leave the yacht as clean or cleaner than you found it for the next member’s use. Members who do not live up to this policy will be charged $50 per hour for cleaning.

What do I do with my personal yachting gear between sessions?
Lost Cove Yachting has a small, locked storage building at the marina where you can keep personal items in secure containers so that you don’t have to carry your yachting gear home

How much can I save with a Lost Cove Yachting membership compared to ownership of an equivalent yacht?
The costs of ownership of yachts equivalent in value and amenities to a Tartan 3400 and a Camano 31 are very significant. When all ownership costs are considered, including cost of equity for a down payment, principal and interest payments, insurance, depreciation, fuel, dockage, winter storage, winterizing, repairs, cleaning, etc., these costs can easily exceed $30,000 per year. If you consider that many boat owners are unable to use their boats for more than a few weeks a year because of other time constraints and obligations, our membership program is the cost effective and intelligent way to sail or cruise a high-quality state-of-the-art yacht on Lake Champlain.

How do I become a member and when should I submit my application form?
Reservations for membership will be accepted anytime with a completed application form and a $500 deposit. Full payment for the membership is due by April 15, 2008. Because only 8 memberships will be available for each yacht, it is important to send in your application form with deposit as soon as possible. The order of receipt of deposits for shares will be used to establish priorities for any scheduling conflicts that may exist during the initial session allocation process.

How can I get more information about Lost Cove Yachting and its yacht membership program?
Simply call 802 264-9088 or 802 233-7710 or email us at lostcoveyachting@comcast.net. We will be glad to meet you at your convenience to show you the yachts and discuss all aspects of our program.

 

Lost Cove Yachting is a company formed by dedicated boaters expressly to provide yacht-sharing membership opportunities to boating enthusiasts on Lake Champlain.