Boater Weekly #3
Yachting in Imperia, a Motivated Seller of a Ferretti, Google Trends, Marine Surveyors and Weekly Highlights from the Boater Team
Welcome to the latest edition of Boater Weekly, the definitive publication for current and future boat owners! Boater Weekly is published by a global crew of boat enthusiasts who also happen to be data scientists. We use data and analytics to curate the best opportunities, the most popular destinations and the most important terms from across the web for our subscribers. Let’s get to it!
"The sea is everything. It covers seven tenths of the terrestrial globe. Its breath is pure and healthy. It is an immense desert, where man is never lonely, for he feels life stirring on all sides."
- Jules Verne
Weekly Highlights
Motivated Seller: 2020 Ferretti 670
Keywords: “Motivated seller. All serious offers considered.”
Asking Price: $2,100,888
Location: Singapore, Singapore
Broker: Boats IQ
Motivated Seller: 1989 Alan Pape David Walkey 60
Keywords: “MOTIVATED SELLER!”
Asking Price: €395,000 ($430,466)
Location: Antibes, France
Broker: NEXT Yachting
Boater Term - Marine Surveyor
Marine surveyors inspect the structural integrity, safety and compliance of a boat, providing an unbiased report on a boat’s condition. There are different types of marine surveyors. Pre-purchase surveyors inspect boats before they are purchased, while insurance surveyors are hired by insurance companies for the purpose of underwriting coverage. Damage surveyors are hired after a boat is damaged, to assess the extent of the damage and estimate the cost of repairs. Condition and value surveyors provide a thorough review of the entire vessel, helping determine the condition and value of a boat.
Marine surveyors typically have a background in marine surveying, marine engineering or a related field. Marine surveyors are often accredited by The National Association of Marine Surveyors (NAMS) or The Society of Accredited Marine Surveyors (SAMS). Marine surveyors use specialized equipment, such as moisture meters, to inspect the boat's structure, and also test the boat's systems and equipment to ensure that everything is working properly. Marine surveyors are independent, and provide unbiased opinions to the entity commissioning the survey.
Data-Driven Insights for Boaters
As data scientists, the Boater crew is accustomed to using data-driven insights to inform decision-making in a range of industries. One popular data set to assist in identifying shifts and opportunities is Google Trends. Google Trends analyze the popularity of search queries on Google. The below chart shows the popularity of the search term “grady white” in the U.S. over the last 5 years.
One clear trend from the chart is the seasonality that comes with the search term “grady white”. It is quite evident that there are peaks and valleys in the search term’s popularity . Unsurprisingly, the search term is more popular between April and August, hitting its lowest points in the winter months. The popularity of this search term can largely be explained by weather, and when boats are used the most in the U.S.
Boaters should act in a countercyclical manner. If looking to buy a Grady-White, it is clear from this data that anyone looking to sell one is receiving less interest in the winter months and would likely take a lower offer, if motivated to sell. If looking to sell a Grady-White, listing or dropping the price around May when interest in the term is approaching its peak would, all else equal, lead to a faster sale than doing so in the winter.
The most popular states and metro areas for that search term can also prove to be useful. Here again, going against the grain can prove beneficial. If buying a Grady-White, looking for one in a state or metro area where there is less search interest could yield a better price, as there are fewer buyers looking in an illiquid market and a seller might need to hit a bid. If selling a Grady-White, marketing in areas where the search term is more popular should create more buyer interest.
For the record, this cyclicality is not unique to the search term “grady white”, but looks similar if you are looking at Google Trends of “pontoon boats” or “sea ray”. It is more to explore how Google Trends can be used in boat analytics, something we will explore further in more detail in future newsletters, along with other data sets that can be used in analytics to identify opportunities.
Material Price Drops!
Boater’s crew has curated a list of boats with asking prices that had material price drops in the last week. Prices here are below $100,000.
Featured Price Drop #1
Keywords: “LOWERING PRICE $10,000 for quick sale.”
Vessel: 1988 Catalina 34
Price Drop: -$10,500 (-25%)
New Asking Price: $32,000
Location: Naples, Florida
Featured Price Drop #2
Vessel: Grady-White Marlin 300
Price Drop: -$7,800 (-12%)
New Asking Price: $54,950
Location: Gloucester, Massachusetts
Featured Price Drop #3
Keywords: “BRING ALL OFFERS!!!”
Vessel: 1983 Freedom 33 Cat Ketch
Price Drop: -$5,000 (-33%)
New Asking Price: $10,000
Location: Fort Pierce, Florida
Boater’s team identified a moviated seller of a Rossinavi in Imperia, Italy. Let’s start with some boating knowledge about Imperia, before exploring this beautiful yacht!
Imperia, Italy
Coordinates: 43.8897°N, 8.0395°E
Body of Water: Ligurian Sea
Largest Marina: Marina degli Aregai
Imperia is a city on the Italian Riviera in the Liguria region of Italy. The waters around Imperia are ideal for sailing, cruising, and exploring the coves and beaches in the surrounding area. Located just north of Imperia, the Gulf of Genoa offers a picturesque coastline to explore, with towns such as Rapallo, Sestri Levante and Chiavari offering plenty of opportunities for relaxation.
Sestri Levante
East of Imperia across the Gulf of Genoa, Cinque Terre is a string of centuries-old villages along the Italian Riviera. The five picturesque towns, Vernazza, Monterosso, Corniglia, Manarola and Riomaggiore, each have their own unique charm and are a UNESCO World Heritage site.
Cinque Terre
Located southwest of Imperia, the towns of Nice, Cannes and Antibes on the French Riviera are popular destinations to visit by boat from Imperia. The Ligurian Sea offers many other opportunities for boating, such as the island of Elba, the island of Capraia and the island of Gorgona.
A Rossinavi in Imperia
Vessel: 2002 Rossinavi Custom 92
Price: €2,450,000 ($2,669,980)
Location: Imperia, Italy
Broker: Fraser Yachts
Stay tuned for some of the steepest price drops and most motivated sellers of some of our favorite boats in next week’s edition of Boater Weekly! Subscribe below.