YachtWorld expects the concept will make used boats a bigger part of major shows globally
Almost everyone in the recreational marine industry recognizes the influence and importance of boat shows in the purchase cycle for new boats.
Boat shows go to great lengths to promote the new models that will be on display. It is also true that most boat shows do not encourage the display of pre-owned boats, because they do not want to compromise new-boat sales. There is growing evidence to suggest that this bias towards new boats is changing.
The NMMA’s 2007 Recreational Boating Statistical Abstract report gives some very powerful statistics to support the belief that pre-owned boats are a gateway to new-boat purchases. It states: “The likelihood of an individual purchasing a new boat increases as they make subsequent purchases, with nearly a third of repeat boat buyers purchasing a new boat as their next watercraft”. The abstract goes on to say, “Nearly 939,100 pre-owned powerboats were sold in 2007, totaling $9.6 billion in sales and accounting for 73 percent of all boats sold."
In Europe, there is a new initiative that allows the boat show visitor to acquire information on pre-owned boats in addition to seeing the new boats. YachtWorld, the Internet boat sales portal, recently announced that its Yacht Brokers Village concept will debut at the 2009 London Boat Show at ExCel. The Yacht Brokers Village will create a vibrant area for boat show visitors to view high quality, professionally presented information about hundreds of boats for sale from professional yacht brokers and boat dealers. The display allows brokers and dealers to promote brokerage listings, part exchanges, stock boats and boats they are unable to display on their own stands. The Yacht Brokers Village will be fully staffed by YachtWorld personnel, who will forward all inquiries to the listing broker or dealer in real time.
For those familiar with the London Boat Show, the Yacht Brokers Village will cover 120 square meters, and is strategically positioned in the North Hall close to the Guinness stand and the large sailing yacht displays. Each broker or dealer will be able to promote around 20 of his or her boat listings on a branded display and use the stand facilities to meet and transact business with customers and prospective customers. As an additional benefit, all participating brokers will enjoy exhibitor status and will get the associated entry in the Show Guide.
YachtWorld’s concept will also be a central feature of the Dusseldorf boat show that takes place in January.
Meanwhile, discussions are taking place here in the U.S. to make the Yacht Brokers Village a part of the major American boat shows.
This brokerage sales data in the chart above is voluntarily supplied by YachtWorld.com member brokers. The figures do not represent all boats sold by all brokers: 95 percent of YachtWorld.com’s 1,689 members contribute sales information. YachtWorld.com and Soundings Trade Only are owned and published by Dominion Enterprises.
This article originally appeared in the November 2008 issue.