( CNN ) -- Nothing says you 've made it in life or business quite like the glamor of a yacht or private jet . These extravagant toys of the rich and famous are perhaps the ultimate in status symbols , good for business and a comforting boost to the ego of their wealthy proprietors . The only problem is attaining one of these stylish items has traditionally required a shed-load of cash preceded by a healthy dose of success -- but that is n't necessarily the case anymore . An increasing number of people are pooling their resources to buy up and then share grandiose luxury products like yachts and private jets through fractional ownership initiatives . `` It 's great to bring clients and business contacts on the boat because the boat is a place more small ... more intimate , '' yacht owner Dino Ballestra told CNN . Ballestra previously owned his vessel outright but recently sold off a 75 % stake to other investors , keeping the remaining 25 % for himself . `` Because the costs of running a boat are very high I 'm looking to share the pleasure of the boat with a group , '' he explained . See also : Are piloteless jets within reach . Fractional ownership models like those employed by Ballestra work upon the basic principle that things you do n't use all the time are worth splitting costs over . The concept was first introduced to the field of luxury travel in the 1980 's by forward-thinking firms such as Netjets , who brought together buyers to purchase private jets using a time-share-like model . Today , internet savvy companies such as Flyvictor have constructed their own market-based version of the fractional ownership model . `` We 're helping the industry to become more efficient by allowing owners to charter their aircraft through the victor platform and allowing people who want to charter a jet -- not own a jet -- and take all the benefits of flying private to and from destinations , '' explained Flyvictor founder , Clive Jackson . Flyvictor 's website acts as a forum where owners or co-owners can advertise their jets for charter or hire . Those looking to fly solo or band together with fellow travelers meanwhile can browse to see what 's on offer . Customers are never guaranteed to get exactly what they are after but if they 're lucky they may be able to pick up a bargain . `` Everyone likes to do deals , particularly the ultra high-net-worths , so if they can find an empty aircraft flying back for $ 50,000 dollars then why not , and if they ca n't they 'll book a full fare aircraft , '' said Jackson . See also : Luxury jet makers take the long view . These same principles of savings and efficiency are at the core of yachting company , Monocle , which aims to bring fractional ownership to the high seas . According to Monocle president , Loren Simkowitz , sharing guarantees the benefits of ownership without the hassle and expense of full management . `` It 's the high cost ... that drives people out of yachting , '' he said . `` Most people use ( a yacht they purchase ) three to four weeks a year . The rest of the time it sits around as an idle asset depreciating . You spend more time managing the boat than your business , '' he added . With an increasing number of high-net-worth individuals looking to save money where they can , Simkowitz believes those opting for fractional ownership plans will only increase in the coming years . `` I think it 's the wave of the future , '' he continued . `` People are much more fiscally prudent with their money . People do n't want to be tied down to an asset they use infrequently . They 're smarter than they were in 2000 , '' he added .
Fractional ownership initiatives are making some expensive luxury items more affordable . Comment: Flyvictor and Monocle are two companies helping consumers to employ the concept .