Business & Finance
Brought to you by: Monaco Life
Northrop and Johnson, a yacht brokerage firm with a Monaco branch specialising in luxury yacht sales, charters and staffing, has broken its own record by selling 141 yachts so far this year, an average of one every other day, an exceptional feat in the current climate.
Covid clearly hasn’t negatively impacted the luxury yacht market, if 2021 sales figures by Northrop and Johnson are an indicator.
Northrop and Johnson’s market for top-end yachts has reached unprecedented heights in a year that saw other industries suffer, boasting the sale of 141 yachts sold so far. This makes the third year in a row that the company, which has new offices in Monaco, has sold more than 100 yachts in a calendar year, with the highest transaction values ever seen by them.
The company has experienced an 84% rise in revenue growth across all their sectors, and a 56% increase in sales. The largest yacht sold by them this year was the mega-yacht Solo, a 71.9 metre ranked as the sixth most expensive ship sold in 2021. The 67.1 metre Anna 1, which was sold at the Principality’s branch, and the 60.4 metre Blue Moon came in a close second and third.
“It has been a very busy year for us,” said Northrop and 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.”
Monaco’s participation, particularly during the Monaco Yacht Show in September, helped in this record-setting year. In addition to the sale of Anna 1, several other sales were announced that same week.
“We had countless viewings each day and a lot of strong interest in our yachts on display,” said Patrick Coote, Northrop and Johnson’s European Managing Director. “It was clear that there were fewer yachts and fewer people at this year’s show, but overall, those in attendance were high quality and seriously interested in purchasing or chartering.
“Additionally, the client experience was better, giving a more exclusive feeling and the ability for clients to more easily tour the yachts on display. As expected, there were far fewer Americans and those from the Far East than normal, however, we were pleased that it was more than made up for by the number of people from Europe and the Middle East.”
Northrop and Johnson delivers professional services in luxury yacht sales and purchasing, private yacht charter, new yacht construction, charter management, crew placement and more.
Photo of Solo, source: Northrop and Johnson
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