2021 has been a record-breaking year for leading yacht brokerage Edmiston, with 48 yachts over 30m sold from January 2021 to date – more than double the number in 2020, totaling over 1 billion EUR worth of sales. These figures surpass those of 2019 and 2020, two of the strongest years on record.
Sales success in numbers:
Edmiston shares some impressive statistics with over 50% of its CA fleet sold in 2021, including 30 new-joiners. Edmiston boasts a 30% market share of global yacht sales over 50m. This share rises to 50% in the 70m+ segment, with Edmiston having been involved in the sale of half of the 10 largest yachts sold in 2021, including six of 10 highest value deals of the year.
As well as impressive sales figures, Edmiston yachts have sold twice as fast as the industry average, with sales averaging 298 days from listing to completion, compared to the industry average of 604 days. Examples include, HALO (46 days – the fastest deal globally for a yacht over 50m), 4YOU (51 days), and GAME CHANGER (97 days) and CLICIA (sold in 29 days).
Edmiston’s other notable achievements this year have been to support its clients through the full lifecycles of their yachts, as demonstrated with NORTHERN ESCAPE and RESILIENCE, where Edmiston has been at the Owners side every step of the way, from sale, to build and then on into the successful charter market.
2021 also saw unprecedented activity in the charter market, with an upturn in bookings that has seen a return to pre-Covid booking volumes. The brokers at Edmiston are seeing an increase in bookings further east in the Mediterranean, particularly in Greece and Croatia, and a rise in the average charter length, to an average of 10 days, 9% up on 2020 and 31% up on 2019. There is a positive outlook for summer 2022 based on the enquiries received so far.
Looking ahead to 2022 – predictions for the industry
Alex Koersvelt, Commercial Director of Edmiston comments, “We are continuing to witness an active market with clients looking for yachts. It’s looking likely that this will carry over into 2022.” However, Koersvelt notes that market supply is reduced, and with demand holding strong, Edmiston has completed several off-market deals in past weeks including the 56m ROSEHEARTY, 49m N2H and 56m MELEK. “The majority of top shipyards are now unable to a deliver a yacht before 2026,” he says, “so clients that do not wish to wait will need to focus on the brokerage market instead. Having the best market intelligence is more important than ever.”
The good news continues across the industry, seeing global sales of 362 yachts in 2021. The market is predicted to be up close to 40% by year end with significant growth in the 30-40m and 50-60m segments. All-in-all, the year ahead looks promising and it goes without saying that Edmiston will sail into 2022 as market leaders both for sales and charter.
