Yachting Industry Leader IYC’s Superyacht Sales Are Soaring
IYC has become the fastest-growing company in the yachting sector. The leading yacht firm continues to establish its dominance in the industry, operating out of 14 strategically located offices around the globe and driving the international yachting market forward.
IYC’s global network allows them access to targeted HNWIs who charter and buy yachts of the highest pedigree. With a total value of $1.8+ billion in sales since its inception in 2015, IYC has brokered some of the top deals in the industry, representing the seller in 63 percent of the transactions that it closes.
IYC is committed to expanding their geographic footprint to be close to their clients, employing the best professionals in the industry and continually investing in the development of proprietary software solutions to deliver their clients unrivaled service of the highest industry standard. They deliver forward-thinking advice, insight and support to yacht owners, buyers, charterers and captains worldwide.
Reports from the first three quarters of 2021 show that the yacht market is the strongest it’s been in four years. During the first nine months of the year over 750 new and pre-owned superyachts were sold with the market closing at +51 percent versus the same period in 2020 and +37 percent versus 2019. In the context of a robust sales market, trends that emerged in 2020 have continued to shape the industry in 2021.
In the first nine months of 2021, IYC successfully sold 60 yachts with a combined value of over $420 million, making them one of top three companies in the number of superyachts sold globally. Although IYC is an expert in yacht sales across all types and size segments, the company achieved a 15 percent market share of all motor yachts sold in the 40-meter to 60-meter size segment. Additionally, with the company significantly focusing on the promotion of its own sales fleet, 71 percent of total sales recorded were transactions in which IYC represented the seller or completed an in-house deal.
Market predictions are never guaranteed but based on current performance records in 2021, expectations for end-of-year sales are encouragingly rosy. Estimates show the yachting industry will continue to perform strongly in the second half of the year and for demand to exceed supply.
Brokerage carried more than its fair share during the first three quarters of the year, and we expect this impressive momentum to continue in Q4 and into Q1 2022. The growth rate is expected to be a little lower compared to the first half of the year, as per seasonality when buyers often scramble to purchase a yacht prior to the summer season. That said, an upwards trend on last year’s performance is set to continue, buoyed by a loosening of international travel restrictions.
The first half of 2021 saw buyers opt for efficient sales processes closer to home, which allowed them to view yachts in person, but the opening of transatlantic travel now makes yachts on the international market a very viable option.
Location aside, it’s the quality yachts, particularly in the larger size segment, that stand out amongst current inventories. More first-time buyers are entering the market, while existing yacht owners are looking to upsize. With demand now outstripping supply on the brokerage market, and buyers typically looking for more immediate deals, quality vessels that are realistically priced will continue to sell faster.
To date, 8 percent fewer yachts have been newly listed on the market compared to the same period in 2020, though sales have increased significantly. What’s more, sales are closing in a shorter turnaround time, as yachting proves itself to be one of the safest and more appealing forms of vacation during the global pandemic. As a result, IYC expects notable growth in the market over the next few? months.
But not all who enjoy yachting are in the market to buy. Despite remaining travel restrictions, 2021 has seen a robust charter market on both sides of the Atlantic. As demand for charter increases, the charter fleet has continued its growth trend, and those looking to find appealing sales opportunities for successful charter yachts will not be disappointed. We expect the charter market to continue to grow at an 8 percent rate.
Through IYC’s charter fleet, clients have the benefit of experiencing a luxurious vessel, breathtaking destinations and bespoke itineraries, no matter what corner of the world they choose to explore. Turning to the Caribbean, which travelers typically visit between November and April, IYC recommends five destinations that are perfect for escaping the cold, gloomy winter weather:
To view all available IYC vessels and itineraries, please visit https://iyc.com.