Welcome to YachtSpec’s industry insights!
“How much sales effort is needed to sell a boat?” This was the question we wanted to answer but, in reviewing so much data, we couldn’t help but notice other trends and confirm other views we held.
We are consequently sharing some of our insights after reviewing more than five thousand recent deals by dealers in thirteen countries on three continents selling various brands of new sailboats and powerboats ranging from 20’ to 120’. We reviewed these deals to better confirm what we knew anecdotally about the number of quotes that are issued before a contract is won. Then, once a customer has decided on a particular model, we wanted to know how many iterations of quotes and contracts are issued during the sales cycle from initial quote to handover of the vessel.
On average, it took 38 quotes to get 1 contract. Each deal had an average of 1.6 iterations but this jumped dramatically to 9.6 iterations per contracted deal. *
The report contains statistics such as average quote price, the split of the total price between base boat, factory and dealer fit options and average number of trade ins. All statistics are split by boat size in the categories of sailboats, powerboats and all boats.
We’d be delighted to hear your feedback. If you have any questions, would like to see more reports like this in the future or would like to participate, please contact us.
The YachtSpec Team
The complete report has 9 pages with 36 charts. The powerboat and sailboat reports are 5 pages with 12 charts each. To order a copy please select the copy you want, enter your email and click the order button.
* For the purposes of this study:
A deal file is a collection of the documents issued during the sale of a particular boat to an individual customer i.e. quotes, contracts and statements.
Since each deal file only contains one model, multiple deal files are created for different models for the same customer as well as for different customers. The number of quotes therefore refers to the number of different deal files created by a broker.
Iterations consider the number of times an individual deal file is saved specifically as a new version by the broker. The reality is that the number of iterations is likely to be much higher than figures in the analysis as not every change would necessarily warrant a new version in the broker’s mind.
These definitions are included in the report.