Regional Economic Influences on Second-hand Monohulled Sailboat Prices: A Random Forest Regression Analysis

Based on the aforementioned hypothesis, regional differences are mainly reflected in the residents' income level rather than geographical conditions. Sailboat buyers may not necessarily engage in sailing activities in the purchasing region, and the impact of geographical factors on prices is more complex. However, the price level of the purchasing region and the per capita income of local residents have a significant impact on sailboat prices. Regions with high income and high consumption levels naturally generate higher consumption demand, and therefore, second-hand sailboat prices may also have a premium. Therefore, we introduce economic indicators from different regions to consider the impact of regions on sailboat prices.

According to the results above, this paper decides to use the random forest regression model to analyze the relationship between sailboat prices and these factors. The important relationship derived is shown in Figure 3. It can be seen that the three factors that have the greatest impact on the prices of second-hand Monohulled Sailboats are LOA, LWL, and Displacement. This also corresponds to the previous hypothesis that sailboat prices are most related to the parameters of the sailboat itself, such as displacement and sail area, while the level of economic income in the selling region is a secondary factor affecting sailboat prices.