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Bareboat Charter Rates1
Chesapeake Bay Florida/Bahamas
Seven day week2 $3,000 $3,200
(7 days/6 nights)
Five day week2 2,500 2,750
(5 days/4 nights)
Weekends2 1,100 1,300
(2 days/1 night)
Day Rates3 600 700
� Day3 400 450
Hourly3 175 200
1 Excludes cost of fuel, dockage, and stores.
2 Limited to a party of four.
3 Limited to a party of six.
Those rates were within 5 to 10 percent of the rates set by
Ballard Marine during the preceding 5 or 6 months that it held
the yacht out for charter, and those rates were not changed
during the remainder of time that Ballard Marine owned the yacht.
Petitioner was accorded a discount of 40 percent when he
chartered the yacht from Ballard Marine.
On May 13, 1987, an entity named Gulfcoast Farms chartered
the yacht for the stated rate of $3,200 a week for a 7-day trip
to Key West, Florida.
No other charters were made before the yacht was moved north
at the end of May 1987, except that petitioner used the yacht on
three occasions. Petitioner was expected to pay for his use of
the yacht. Petitioner did not pay for his 1987 use of the yacht
until sometime in 1988.
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Last modified: May 25, 2011