Who wants to be a millionaire? The chances are that most of us wouldn’t say no to the country estate, super-sonic plane, gigantic yacht and fancy foreign car listed in the lyrics of Cole Porter’s 1956 song. But while luxuries in that league are beyond most people, fractional ownership can enable anyone with a spare few thousand pounds to buy a stake in a holiday cottage, classic sports car, boat or light aircraft.

A look at Fractionallife.com shows just how big the concept has become. The site links to scores of schemes that sell interests in all of the above and more, from hotel rooms to racehorses.

There is some scope for capital growth, but Piers Brown, the site’s founder, says that the first aim of most of the groups and syndicates is to give members a taste of an executive lifestyle at a fraction of the cost.

A second free website, yours2share.com, brings together those who want to share use of an asset without having to join a commercial scheme. People who own something that they would like to sell part of, or let for a number of days each year, can advertise. So can those searching for such owners, or for fellow enthusiasts interested in clubbing together to buy something special.

Sophie Garratt, the site’s founder, says: “With a little care, you can find like-minded partners and share virtually any valuable asset with minimal inconvenience.”

The site has listings in ten categories, including cars, aircraft and boats. In the latter, a twelfth share in a new four-berth narrowboat based on the Oxford Canal is for sale at £7,200. This comes with annual running costs of £450 and gives four weeks’ use a year. A quarter share in a 1977 Cessna 150F aeroplane based in South Yorkshire is £4,750 with a standing charge of £960 a year.

Under property, one couple are advertising 180 days’ use of their 18th-century cottage in the centre of Beccles, Suffolk, for £3,600, including “cleaner, wifi broadband and logs”.

An alternative retreat is the quarter share of a fisherman’s cottage in Port Grimaud, Provence, on offer with a quarter share of the Beneteau Oceanis 50 yacht moored outside, for £270,000. Graham Price, of Leatherhead, Surrey, is one of the three current co-owners and says that sharing costs makes sailing much more affordable.

The logistics of fractional ownership or letting can be complex. Ms Garrett says that it is essential that all sharers draw up a contract with a solicitor. This should spell out the rights and responsibilities of each party and set out an exit strategy that allows an owner to get out of the deal with minimum inconvenience all round. The site sells template contracts for a number of fractional ownership and lease arrangements at about £30 each. These should be used as a starting point – not the finished document – but they can reduce standard solicitors’ fees significantly.