“Management is the key”
Dr. Loren Simkowitz
Receive all the benefits of Monocle’s 100 years of Asset Management expertise at no extra cost to You.
No single organization has the combined level of expertise that Monocle can offer with significant emphasis on eliminating the high cost of operations. We give constant personal attention that you and your vessel deserve. We save you far more dollars than our monthly management fee. Monocle maintains a relationship with each yacht and crew. Decisions are made as if we owned the vessel ourselves. We are smart enough to protect our vessels by knowing what to buy, where to buy it and what to pay for it.
We all experience major events in our lives which create memories both good and bad. For boaters, the happiest days are the purchasing of the new family vacation, “our yacht.” For investors, it’s the excitement of a new venture.
For all of us it is a big decision. We spend years planning, investigating, and visiting boat shows, speaking with marine vendors and yacht brokers, checking magazines, making financial inquiries and arrangements, hiring a captain and crew, all leading to the culmination of our dream, “owning a yacht.”
Twelve months pass and we see our dream yacht now listed in the “for sale” section of the magazines.
So, what happened to this family and business dream? Why is this yachting treasure, which took so much planning, effort, and money to create, now listed in the “for sale” roster? Why has our dream become a nightmare?
There are many problems inherent with yacht ownership. First, many of us have a demanding career that is all-consuming. There are business, family and social obligations of every type that require our constant attention. We frequently live in another area or other part of the world from where our yacht is berthed and must rely on our captain and crew to protect our investment and floating assets. With little or no yacht management experience, owners attempt to manage this multi-million-dollar asset through the phone and through the eyes of our on-site employees. In a short time, we realize that owning a yacht has become a gigantic commitment and overwhelming responsibility of our time, sapping our energy, money, and nerves. Our original dream becomes a battle of Herculean proportions.
We finally give in and give up our dream. Our dream is stolen from us by the never-ending high cost of repairs, suppliers, shipyard work, and crew personnel problems.
Monocle Management has provided successful, comprehensive multi-asset management services since 1965, and now offers these same services to the yachting industry.
We believe that yachting should be enjoyed like any other life-style activity and want to shift the huge burden and time-consuming responsibility of yacht ownership from the yacht owner to our experienced management organization.
Monocle, through its numbered computer purchase order system, will control all vendor purchases. This allows you to take advantage of our worldwide buying power and proven marine suppliers. Fuel, dockage, maintenance, supplies, crew uniforms, interior replacements, and general provisioning are just a few of the cost cutting areas in which we excel.
Monocle Yacht Management has worldwide “fleet buying” power. We purchase marine supplies, parts, and equipment directly from the manufacturer, with all savings being passed along directly to the yacht owner.
There is no incentive to spend your money; there are no “up” charges, kickbacks, or “rebates” of any kind to Monocle or the supplier or vendor which is very prevalent in the yachting industry. Monocle is committed to total honesty, total transparency and enjoys the highest level of integrity in the yachting world.
This is an area of yacht management where Monocle really excels. First, we have each yacht on a complete computerized maintenance schedule. By controlling each of the hundred mechanical components of the yacht, we can perform proactive scheduled maintenance, thus virtually eliminating mechanical breakdowns. In addition, we have our own skilled “in house” mechanics covering every aspect of the yacht maintenance and repair. Your cost of repairs is decreased by 2/3rd on average. We are smart enough and experienced enough to know what to buy, what to pay for it, and where to obtain the best pricing for your vessel.
Monocle will evaluate your present insurance policy or assist you in placing new or additional coverage to comply with new Maritime requirements for charter and non-charter vessels. Proper insurance coverage and pricing are another management function that Monocle performs. Because we manage a large portfolio of yachts worldwide, we are able to negotiate lower prices with reliable underwriters. Owners typically save 25% on their insurance cost.
Each yacht maintains its own separate bank account. Monthly financial statements reflecting all expenditures, including payroll, are submitted to the owner along with the original paid invoices and are shown each month on our website using a private password. In addition, an outside annual audit is performed for each yacht. We maintain worldwide banking relationships to assist you with the financial aspects of your yacht. Monocle believes in total transparency.
Proactive routine inspections and re-inspections of the yacht are conducted by our own experienced and knowledgeable staff. Our in-house computer generates a list of hundreds of items including all the mechanical equipment, from bow to stern, to insure smooth operations.
Monocle Yacht Management will be your managing agent responsible for the captain and crew aboard your yacht. This will eliminate that direct, often annoying, aspect of yacht ownership. Our obligation is to provide your yacht with the most professional staff available. Monocle Yacht Management will perform thorough background investigations of all proposed personnel including psychological compatibility and situation response testing.
Having the right and experienced crew guarantees that you and your guests will have a fabulous time aboard. Crew is very important, and we realize that in addition to having the proper credentials, there needs to be a homogeneous environment with the right synergy, so crew function as one, whose goal is to completely spoil you.
Monocle will assist its owners in negotiating capital expenditures with ship and repair yards for items such as refurbishing, repainting, retrofitting, yacht extensions, refitting to comply with new safety code requirements, interior and exterior design improvements, or the purchase of a new yacht. In addition, our specialized consultants are experienced in other marine areas like the MCA Code of Practice, Solas Convention, ISM code, STCW requirements, vessel discharge contingency spill response plans and safety training.
When a yacht joins the Monocle fleet, it comes under our umbrella of protection and caring. Whether your yacht is in Florida, the Caribbean, New England, or Europe, we will be in constant communication protecting your asset and servicing your crew. Many years of owning large yachts coupled with professional multi-asset management experience allow Monocle to introduce a new dimension to the yachting industry.