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10 things we learned at Southampton International Boat Show 2021

Southampton International Boat Show (SIBS) recently took place for the first time since 2019, due to the Covid-19 pandemic.

For the Promarine Finance team, and many other exhibitors and attendees, this was one of the first in-person events they’d attended in almost 18 months.

This year, Stuart and the team were more involved than ever before, with two Foredeck stage appearances, including providing a seminar on marine finance and sitting on the ‘Buy a Boat’ panel.

So, what did the team take away from this year’s event?

1. It was a busy show for boaters

The show was inundated with boaters from all over, looking to shop around, upgrade their vessels, or even purchase a boat for the very first time. It’s safe to say that the boating community has sorely missed in-person events — and was excited to be back.

2. COVID-19 restrictions didn’t put off serious buyers

While restrictions have eased, there is still, understandably, some uncertainty around large-scale events. SIBS ensured attendees provided proof of a negative lateral flow test, taken 48 hours prior to the show, so guests could be comfortable and safe. Attendees were happy to comply with this rule, and the new safety measures did not put serious buyers off.

3. Deals can still be made at in-person events

The shift to online purchases over the past 18 months has been vital — and there is certainly still a place for it. However, we were pleased to learn that a good, old-fashioned deal can still be made in person. This is great news for the industry as a whole.

4. Pre-approved finance enables buyers to confirm and secure their purchase

If you’re looking to finance a boat, then getting the finance pre-approved (before you start shopping for your dream boat) will help you secure your purchase — and speed up the overall process.  

5. Demand is up, and so are prices

Delays in building, shipping, and transportation of goods have caused prices to skyrocket in a number of industries, and the marine industry is no exception. Plus, an increase in staycations has meant a rise in demand for boats — both new and second-hand. For the first time ever, the boat prices are appreciating.

6. It’s more important than ever to have a full, pre-purchase survey

With the growing popularity of used boats, a pre-purchase survey is a must. Buying a boat should be a well-considered decision, and inspecting the boat should be a key part of that.

7. Part-exchange (PX) deals can be made

Fantastic news for existing boat owners: if you’re looking to upgrade your boat, we now offer part-exchange directly and through our broker partners. Get in touch and we can help find the right solution for you.

8. We saw more existing customers than ever before

It was fantastic to see so many Promarine customers stop by our stand to say hi. Helping to make their boating dreams come true is what it’s all about — so we were pleased to see more than ever before, at this year’s event.

9. We need a bigger stand!

A quick wander around Southampton International Boat Show will open your eyes to a number of impressive, creative and attention-grabbing stands. With the entire Promarine team out in full force, and tons of interested visitors, we quickly realised that a bigger stand is a must. Watch this space!

10. Competition is changing

The marine finance industry has seen a lot of changes over the past few months, with some of our previous competitors exiting the market, others falling behind the curve, and some new competition on the horizon.

Promarine Finance is a leading provider of marine finance. To find out if you’re eligible, get a quote today.