Yacht Contract attracts big players
Web-based job-bidding platforms work in the building and construction trade—now the team behind Yachtcontract.com insists it will work for the superyacht market as well.…
John Stott has seen web-based job-bidding platforms work in the building
and construction trade, and insists it will work in the superyacht
market as well.
The new business he is managing, Yachtcontract.com, has been in development for over a year and this week has had major players join the online service. “We’ve had the Royal-Huisman yacht Pumula join, as well as service providers Monaco Marine and Newport Shipyard,” Stott, who is leading the development of the online project revealed to SuperyachtNews.com exclusively. “We have acquired over 110 contractors in the past four weeks with new ones joining every day.”
The Palma-based company, initially operating with six employees, is aiming to sign up both contractors and yachts to their yacht-specific online bidding system, which will allow customers to find contractors and contractors to bid for work online. “We have had very encouraging feedback from old school captains and also the new younger captains,” Stott says. “The yacht managers are showing great interest and some shipyards, like Newport Shipyard, and a couple of smaller ones have already signed up.”
Yacht Contract has been getting a lot of interest from insurance companies, a few of which have already registered, including Pantaneus’s Spanish office. In addition to the established contractors that are registering, companies that are trying to break into the industry are also signing up. “In these days of austerity, price and getting the best value are most important,” Stott says. But it’s also about the quality of work. “Yacht Contract has a rating system so that at the end of the job the contractor and yacht can be rated,” he confirms. “A rating system is something that is long overdue in the yachting industry.”
Stott points out that Yacht Contract is a free service for owners, yachts, yacht management and shipyards offering work and expects that the transparent online system should enable customers to find the lowest price on equipment and services. “When customers post a project, all the relevant contractors are automatically emailed immediately. They can invite favourite contractors only or discover new ones through the bidding system.”
Stott hopes the site finds wide use in the yachting community, and as its simple interface gains both customers and contractors, he expects to see the site being used to find the lowest fuel or insurance prices, or the best availability and rates for needed dry-docking dates.
“And contractors should see this as an opportunity to build their client base, plan ahead, fill quiet periods, and sell redundant stock at special prices,” Stott continued. “If a big management company posts work through the site, it can save a huge amount of time in management and admin. Project managers can post the works needed, and contractors will bid. It’s working in building and construction, so there’s no reason it shouldn’t work for yachts.”
At the moment, every contractor has three months free when they join the site. After that, contractors can stay on the site, until a job is posted that’s in their area of expertise; if they then decide to bid, they will be prompted to subscribe for a minimum period of 6 months at an upfront cost of €750. Annual subscriptions are less.
Stott says that in the first year, they’re confident they’ll get “some good figures,” in terms of sign-ups, and expects to see use grow into the summer. “As we’ve got it now, we think we’ve got it right.”
The new business he is managing, Yachtcontract.com, has been in development for over a year and this week has had major players join the online service. “We’ve had the Royal-Huisman yacht Pumula join, as well as service providers Monaco Marine and Newport Shipyard,” Stott, who is leading the development of the online project revealed to SuperyachtNews.com exclusively. “We have acquired over 110 contractors in the past four weeks with new ones joining every day.”
The Palma-based company, initially operating with six employees, is aiming to sign up both contractors and yachts to their yacht-specific online bidding system, which will allow customers to find contractors and contractors to bid for work online. “We have had very encouraging feedback from old school captains and also the new younger captains,” Stott says. “The yacht managers are showing great interest and some shipyards, like Newport Shipyard, and a couple of smaller ones have already signed up.”
Yacht Contract has been getting a lot of interest from insurance companies, a few of which have already registered, including Pantaneus’s Spanish office. In addition to the established contractors that are registering, companies that are trying to break into the industry are also signing up. “In these days of austerity, price and getting the best value are most important,” Stott says. But it’s also about the quality of work. “Yacht Contract has a rating system so that at the end of the job the contractor and yacht can be rated,” he confirms. “A rating system is something that is long overdue in the yachting industry.”
Stott points out that Yacht Contract is a free service for owners, yachts, yacht management and shipyards offering work and expects that the transparent online system should enable customers to find the lowest price on equipment and services. “When customers post a project, all the relevant contractors are automatically emailed immediately. They can invite favourite contractors only or discover new ones through the bidding system.”
Stott hopes the site finds wide use in the yachting community, and as its simple interface gains both customers and contractors, he expects to see the site being used to find the lowest fuel or insurance prices, or the best availability and rates for needed dry-docking dates.
“And contractors should see this as an opportunity to build their client base, plan ahead, fill quiet periods, and sell redundant stock at special prices,” Stott continued. “If a big management company posts work through the site, it can save a huge amount of time in management and admin. Project managers can post the works needed, and contractors will bid. It’s working in building and construction, so there’s no reason it shouldn’t work for yachts.”
At the moment, every contractor has three months free when they join the site. After that, contractors can stay on the site, until a job is posted that’s in their area of expertise; if they then decide to bid, they will be prompted to subscribe for a minimum period of 6 months at an upfront cost of €750. Annual subscriptions are less.
Stott says that in the first year, they’re confident they’ll get “some good figures,” in terms of sign-ups, and expects to see use grow into the summer. “As we’ve got it now, we think we’ve got it right.”
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