Many of

the most famous names in music and sports are enjoying the opportunity to buy a seventh of a private jet, two months driving a top of the line Lamborghini or five weeks a year split between a villa in Rio the French Riviera.One of the newsiest companies dealing in fractional ownership is Yachtplus, They offered new customers the chance to buy an eighth of a yacht designed by the Norman Foster Partnership.The company plans to do for the high end boating industry what NetJets did for private jets. NetJets started the "fractional ownership" idea and now has more than 5,000 shareholders worldwide, including celebrities such as Bono, Tiger Woods, and Madonna.

The very wealthy are realizing that owning a very expensive asset that is rarely used is a waste of money. Just as the wealthy families that owned the huge Newport, RI Mansions needed to turn them into museums to cover property taxes and maintenance the wealthy still need to be use a little frugality concerning their expenses as well.

Many millionaires that have owned a yacht, vacation homes and private jet outright previously now choose to own a fraction of it because it makes financial sense and takes away the many headaches of a single owner. I have friends that are enjoying fractional ownership and shared with me that it has allowed him to make the most of the limited time he has. He is now enjoying more quality time with his family because the added burden of maintenance and other duties he was personally overseeing are lifted.

He earns a seven figure salary and pays about 149,000 a year for his portion of a private jet with NetJets. He is also a member of a high end resort club, which owns over 200 locations around the world. The fee of $375,000 and an annual fee of $20,000 to $30,000 certainly keeps it elite. You never know who you will sitting next to at dinner.My friend is only a CEO so he still gasps at some of the people he is getting to know on his vacations.My friend feels the fractional ownership of the jet allows him the convenience of planning exotic weekends away since he does not have to waste extra time at he airport. He isn't a flashy car type of guy but he loves his airplane on demand.

A representative of Yachtplus said that clients would pay about Pounds 150,000 each a year over eight years for their share of a boat, instead of spending Pounds 7 million up front and Pounds 1million a year in maintenance costs if they bought it alone. Another fractional ownership option is to join the P1 Club, a company which owns a fleet of more than 40 high-performance cars. The former Formula One world champion Damon Hill is involved in it. The cost to members is a joining fee of 2,500 Pounds and the annual membership starts at 11,750 Pounds for 5,000 miles' driving.Many other companies are catching the vision like vineyards,household staff,chauffered limousines,designer handbags and expensive jewelry.