How realistic is a boat ownership syndicate?

[2greens1red]

I'd really appreciate opinions on whether owning a 40' classic yawl (say), based in the Grenadines (say), as a syndicate, is feasible.

I was figuring on 8-10 owners, and an initial budget around US$120k.

Although relatively new to sailing, I'm well aware of ongoing maintenance costs for a classic boat, but when the obsession is triggered, it's difficult to ignore, as I'm sure some of you would agree?

I've run a small syndicate around a classic aircraft, in the UK, and it works fine - with particular emphasis on a group that knows and trusts each other, and all outgoings shared equally.

I look forward to your comments!

[GordMay]

Greetings and welcome aboard the CF, 2greens1red.