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Sailing Yacht and Speedboat Sale and Trade Trends in Latvia

The Latvian Market

The sailing yacht and speedboat market in Latvia is at the stage of development. Demand for big and small water vehicles keeps growing. Demand for motor boats has been especially strong lately. According to the information provided by the sailing yacht and speedboat sales manager of the company “Selane” Yanis Boks to the portal, during the Russian crisis, market development has been halted;however, starting with 2002 it is getting only more dynamic.

It is important to mind peculiarities inherent to the present period. Weather conditions have to be considered as well, as many models would not suit the Latvian weather conditions, e.g. sailing yachts completed for Florida would not suit the Latvian climate, as the kit would include air conditioner and other equipment for hot weather. A boat expert Yanis Boks admits, that sailing yachts with sheds and heated equipment kits will suit the Latvian climate peculiarities.

For example, the company “Sealine” is engaged in motorboat sale, which are in great demand. They are about 30-40 feet, or 10-13 m long. As for the smaller boats, there is a trend to save, as the people purchasing these boats, belong to the layer of the society who would be saving the money, should this be possible. It has to be admitted that once the first purchase has been made, the customers become more lavish and are becoming aware of the fact that they are investing into a valuable thing.

The Customers

The bulk of the customers purchasing motor boats, motor yachts and more expensive products is largely made up by the members of the board of big companies, company owners etc. – people whose material state is much higher than the average. Mostly these are males. Small speedboats are especially favoured by the bank managers. Every economically active person has an opportunity to purchase inflatable boats. Practically everyone can afford purchasing outboard motors. This becomes even more available due to the leasing opportunities which are helping to the average consumer to realize his dreams – to purchase a small sailing yacht. However, it is worth mentioning that the Latvian banks have not presented such crediting programmes for sailing yacht and speedboat purchase that would be enhancing demand for sailing yachts, motor boats and speedboats.

According to the sales manager of the company “Selane” Yanis Boks, more than 70 motor and inflatable boats are realized per year;as for expensive motorboats which are ordered at least six months prior to the purchase – there are about 5 of them per year. The sailing yacht and speedboat dealers confess to the portal, that the majority of the customers who have at least once purchased the water vehicle, are returning to make the next purchase, like another speedboat or just a boat, or something of the kind, and, if initially a motor boat or a small speedboat has been purchased, the next purchase might be a motor yacht or a bigger speedboat.

According to the sailing yacht and speedboat dealers, the customers’ awareness and their intelligence degree is different from the situation that has been witnessed 10 years ago when there was practically no any information about sailing yachts and speedboats. The situation has strikingly changed. There is information available in Internet about a wide range of sailing yachts and boats, their manufacturers, equipment kits and other details. Also international press releases and catalogues are available. It is noteworthy to mention that the customer’s degree of awareness strikingly differs prior to and after the purchase has been made - about the boat types that are the most suitable for the customer, as well as many technical details are discovered which can be found out only when using the boat.

As for correlation between price and quality – normally a person is experiencing a feeling as if he has overpaid the actual price of the purchase;however, once the customer makes sure that all the technical parameters are functioning, he realizes that the price is not too high, - moreover, - that it is adequate to the quality. On the contrary – with time people start preferring more expensive water vehicles and more professional equipment kits.

The Stock

There are practically all the most famous brand-manufacturers of sailing yachts and speedboats presented in Latvia;thereby the customers have an option to choose and purchase their future boats right here on the spot. For example, the company “Selane” is mainly engaged in big motor boat sale;at the same time its stock is really diverse – starting with motor boats to motor yachts.

Motor yachts are presented by the popular English company selling the „Sealine” production;it is possible to purchase a water scooter up to the 20th category, produced by Master Craft, USA, as well as motor boats, speedboats and sailing yachts of the biggest company in the world – “SeaRay”. Motor boats are the most requested articles in Europe and Latvia. Generally, the stock is very flexible – price range fluctuates between the cheapest to a million.

After examining demand of the Latvian and European dealers, it has to be noted that the prices are rather high. However, it is noteworthy to mention that the prices of speedboats and other water vehicles in the Latvian market correlate to the quality. According to the information provided by the sales manager of the company “Selane” Yanis Boks to the portal, it will be hard to provide concrete figures;however, compared to the equipment of lower quality, they are 5-10% higher. All purchase kits are individual, and the price for extra equipment may vary in several hundred thousand Lats.

It is uneasy and most often even unlikely to purchase a good motor boat during the season. Should the customer want to purchase a motor boat, he will have to make an order yet during the winter, as this order implies a serious preliminary work. The only opportunity the customer has in this case is to wait until someone of the owners would refuse the ordered models. Also, should the planned purchase be small, there is an opportunity to get it from the warehouse stock;however, one will have to mind the limited selection.

The Leading Sailing Yacht and Speedboat Brokers in Latvia:



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