Boat Lagoon Yachting, long established as a Princess Yachts distributor in Southeast Asia, has seen an increase in yacht sales over the past two years, demonstrating the enthusiasm of both new and experienced yacht owners in Southeast Asia. In recent years, the company also experienced the effects of Covid-19 situation, but was still able to push ahead due to the expertise of our professional Yacht brokerages Asia team. In this article, Mr Vrit Yongsakul shares his insights on the surge in yacht sales.
Vrit Yongsakul, Group Managing Director of Boat Lagoon Yachting
Record Sales Across The Region
As one of the largest yacht dealerships in the region, Boat Lagoon Yachting has been assisting customers in Singapore, Indonesia, Malaysia, Thailand and the Maldives to find the yacht of their dreams. This summer, they announced a record of 85 luxury yacht sales over the last 24 months, 42 of which were new yachts.
Boat Lagoon Yachting’s Group Chief Executive Officer, Mr Vrit Yongsakul, stated, “We have represented Princess Yachts for 27 years across five countries, and this has been one of the strongest couple of years. Sales have surged, driven in large part by our base of loyal customers upgrading to bigger boats and their referrals of friends who seek the service assurance of a long-standing local dealership. About half of these new yacht sales were to existing clients”.
Most Popular Yachts
Another remarkable trend seen is that over the last 24 months, the best-selling yachts have been larger models of the 42 new yachts sold, 30 were 70 feet or more in length.
Mr Yongsakul added, “A number of years ago, Boat Lagoon Yachting sold the first 80-foot Princess Y75 yacht in the world – hull number one – and since then, this segment has continued to be the most successful in the region for Boat Lagoon Yachting. Among the yachts we have sold in this size segment are six units of the latest Princess Y85 series. And, in this year alone, we have also sold three of Princess Yachts’ flagship 95-foot yachts, including two X95 yachts and a Y95 yacht, with the latter, again, the first sold in the world – hull number one”.
Impressive Princess Models
Many of the popular models sold recently were models from Princess Yachts’ X and Y Class range of vessels. Boat Lagoon Yachting is a proud partner of Princess Yachts, one of the most successful yacht producers in the world.
With the remarkable craftsmanship and meticulous attention to detail that go into their building process, it’s no surprise that these high-quality yachts are among the best-selling vessels in Southeast Asia.
Many of Princess’ most recent yacht models have been designed in collaboration with renowned Italian designer Pininfarina, and leading naval architect, Olesinski. These yachts, including the Princess X95, X80, Y85, and Y95, feature innovative designs merging functionality, aesthetics, and performance. As a well-crafted, game-changing superyacht, the Princess X95 is well worth its price tag.
The Most Challenging Markets
Though yacht sales across the region are booming, Thailand and Singapore are exceptionally challenging markets.
Mr Yongsakul explains the particular demands of these markets, saying, ‘These are countries where word-of-mouth and long-term relationships are the keys to success, and this has helped Boat Lagoon Yachting secure a greater than 75% market share of new yachts sold that are in the range of 55ft to 100ft and manufactured by a global brand’, he said.
He continued to say, “Having sold more than 90 new boats in this size range in recent years, we are fortunate to have a family of owners who are ready to move to larger yachts. At the same time, the amazing new designs in the range are helping to attract an increasing number of new boaters into this exciting activity”.
Despite the challenges of reaching customers in these markets, Boat Lagoon Yachting is dedicated to continuing to offer excellent yachts and superyachts for sale in Singapore and Thailand. These are integral sections of the market for increasing sales revenue and continuing our growth.
Additionally, there is great potential for development in these markets, particularly in Singapore, where luxury lifestyle offerings are highly appreciated. People value the high levels of efficiency and safety that are provided by yachting in a meticulously crafted vessel like those that Princess Yachts offers in Southeast Asia.
Looking Forward To Success
2021 was the most successful year to date for Boat Lagoon Yachting, and the continued increase in yacht sales in Southeast Asia is a clear indication for continued growth in the future.
Boat Lagoon Yachting has 30 years of experience of yacht importation, distribution and sales with multiple locations with extensive marina facilities. We also have one of the largest yacht maintenance and service facilities in Southeast Asia to assist customers in keeping their yachts in top condition.
We are one of the largest and most reputable yacht dealerships/brokerages in Southeast Asia, offering a variety of the most prestigious luxury brands, including Jeanneau yachts, Sacs sport boats, Princess yachts, and Burgess superyachts. We also provide a wide selection of used yachts for sale to customers across Asia. Whatever your interests are, we can help you find the perfect yacht.
Boat Lagoon Yachting continually strives to strengthen its regional sales network and offer excellent services for new and returning customers. We work to provide tailor-made luxury experiences for yachting enthusiasts. Get in touch today to discuss your dream yacht, and we will help you make it a reality.