The sailing boat price study based on two-step multiple regression analysis

This paper presents a novel approach to the valuation of boats through the utilization of a two-step multivariate linear regression analysis. Initially, a comprehensive data set comprising multiple boat pricing records is examined to estimate local demand and utility functions. This estimation is guided by prior experiences and theoretical frameworks in marine economics. In the initial stage of the regression analysis, the aforementioned functions are employed to establish localized demand and preference profiles for individual boats. Subsequently, a second regression analysis is conducted, leveraging the aforementioned profiles to predict the market prices of boats with greater accuracy. The integration of a dual-regression model enables this study to refine the predictions of boat valuations while elucidating the complex dynamics between local market conditions, consumer preferences, and boat characteristics. The methodology and findings of this paper provide enhanced insights for stakeholders in the marine market, offering a robust tool for assessing boat prices in varied market environments.