As the clock chimed midnight on January 1, 2021, there was much uncertainty about what the coming year would bring on the heels of a tumultuous 2020. Hope hung in the air as we moved through Q1, which started the year off on a relatively positive note. Today, with the calendar marking December, it is very evident that the yachting industry has not only made a resurgence, but it has come back from 2020 with vengeance.
Northrop & Johnson is proud to be leading this charge with more than 141 yachts … and counting … sold thus far in 2021. This marks the third year in recent history that N&J has sold more than 100 yachts in less than a calendar year, with this year being the strongest ever with the highest average transaction values ever.
Furthermore, Northrop & Johnson is boasting 84% revenue growth across all sectors of the business with a 56% increase in yacht sales alone. The largest yacht sold by N&J in 2021 was the 236’ (71.9m) Tankoa mega yacht SOLO – which was the sixth most expensive yacht sold in 2021 – followed in close second and third by the 220’ (67.1m) Feadship superyacht ANNA 1 (the eighth most expensive yacht sold in 2021) and the 198’ (60.4m) Feadship superyacht BLUE MOON.
“It has been a very busy year for us,” said Northrop & Johnson President and COO Daniel Ziriakus. “We were very lucky in 2020 to have weathered the hardships well thanks to our ever-increasing technological prowess and the hard work and dedication of our brokers and team members. Everyone started off 2021 running, excited to properly get back to work and to work hard and our numbers speak for themselves. We are exceedingly proud of all that our teams have accomplished this year. There is strong indication that these trends will continue into 2022.”
In addition to the exceptional number of yachts sold in 2021 by Northrop & Johnson, the speed at which N&J brokers moved yachts off the market is truly astonishing. A testament to not only the strength of the current market but also the dedication, diligence and experience of Northrop & Johnson’s brokers who were able to identify the ideal yachts or buyers for their clients. For example, the 198’ (60.35m) Feadship superyacht BLUE MOON was on the market for less than two months before selling, receiving an offer within days of being listed for sale, the 130’ (39.6m) Mangusta AFRICAN CAT was on the market for less than a month and the 122’ (37.21m) WONDERLAND was available for sale for just a month and a half before she closed, just to name a few.
These trends are expected to continue into 2022 and beyond and the global pandemic of 2020 shifted the tides, as experienced boaters and those new to yachting all rushed to get onto the water and have a bit more control over personal travel post-pandemic.
At Northrop & Johnson, we’re not done yet. As we move through the month of December with increased demand and interest in all sectors of our business, we anticipate Q1 2022 to be better than ever before. We’re thankful to our incredible clients, brokers and team for helping us achieve such success in 2021. Watch this space for a full 2021 market overview in early January 2022.
As a world-leading luxury yacht brokerage, Northrop & Johnson delivers professional services in luxury yacht sales and purchasing, private yacht charter, new yacht construction, charter management, crew placement and more. For all your luxury yachting needs and beyond, contact Northrop & Johnson today.