Here’s a fun thing you can do with $100,000: take a guided submarine tour of the wreck of the Titanic.
A company called Bluefish just started taking spectators on a very limited number of trips to see the wreckage. The price tag is hefty, but the opportunity is limited. CNN points out that the wreckage is in danger of being eaten away by bacteria over the next 15-20 years.
What type of person might be interested in taking an expensive trip to the bottom of the ocean? YouGov’s Plan and Track data offers an idea of what sort of market exists for a trip like this.
By looking at individuals that have said they are fans of the film “Titanic,” and whose hobbies and interests include the Titanic as an historical event we get a picture of the type of person who might be considered a fan of “The Titanic.” We can filter this group by people who have said they like to take vacations that a.) take them off the beaten track and b.) include their hobbies and interests to get an even more specific sense of a Titanic Adventurers, or someone who might be interested in taking a trip on a submarine to see the Titanic up close and personal.
Using this methodology we get a sample of about 1,100 people who fit the Titanic Adventurer profile.
Demographically, they’re more likely to be Baby Boomers or the Silent Generation, which makes sense because this group can remember the fascination around the wreck’s discovery in 1985 and the epic film”Titanic” that came out in 1997.
What doesn’t make so much sense, the big price tag. Who might have cash for a trip with a price tag over $100,000? A percentage of the Titanic Adventurers actually might be able to afford such a trip.
About 6% of the Titanic Adventurers have disposable personal income of more than $2,000 a month (the highest figure for YouGov measures for this category.) That’s significantly more than the percentage of average Americans (3.6%) that say they have more than $2,000 a month for disposable income.
The Titanic Adventurer is also much more likely than the average American to have more than $100,000 in a savings account (10% of Titanic Adventurers vs. 5% of average Americans) and same goes for net worth. Titanic Adventurers are more likely (6.5% vs. 3.2%) than average Americans to have a net worth above $1,000,000.
That means there are potential customers for The Bluefish’s submarine expeditions to see the Titanic in its resting place. Still, a single ticket for more than $100K is a tough sell even for the folks who have the disposable income.
But there may be another option for the discerning Titanic Adventurer.
The Titanic II, a replica of the original ship, is slated to begin passenger voyages in 2022. The replica is billed as “every bit as luxurious as her namesake, Titanic II will have every modern amenity along with 21st century technology and the latest navigation and safety systems.”
Ticketing information isn’t yet available from Blue Star Lines, which plans to run the ship.