Dear North Report Readers,
While summer in South Florida is definitely the high season for yachting and watersports, winter brings its own pleasures for maritime enthusiasts. Right now, many of our clients are enjoying cool breezes across the stern as they dine al fresco and look forward to the next major event to cruise through town. Things are looking great from our perch, too. The yacht market continues to see strong activity, dominated primarily by both new and pre-owned sales in the American market. Yacht sales have been riding a wave of record low interest rates, strong stock market returns and booming home values. Similar to housing, there are currently more buyers looking for late model, pre-owned yachts and new build opportunities than the market can support, which is driving up the value of existing vessels. And many premier shipyards are operating at capacity, with build times extending beyond three years due to availability. These market realities are pushing more buyers to seek out late model, well-maintained yachts for sale, which has certainly been good for our business. In fact, 26 North Yachts enjoyed a record year of growth in 2021, but we’re cautiously optimistic about 2022, bearing in mind how cyclical our industry can be. The current lack of late model inventory actually stretches back to the recession of 2008, when new yacht construction came to a screeching halt. That is one of the many reasons it’s so difficult to find pre-owned yachts built between 2008 and 2015. As yacht production increases over the next few years, the current seller’s market is expected to wane, so right now is a great time for owners of well-maintained, late model yachts of good pedigree to consider selling. If this is something you’re interested in, please reach out to our team for a fair market appraisal and to explore your options.
NICHOLAS SCHERB & MIKE CARLSON Co-Founders of 26 North Yachts
And as always, thank you for reading and enjoy our new issue of North Report Magazine.
Mike Carlson & Nicholas Scherb Co-Founders | 26 North Yachts
2525 Marina Bay Drive West, Suite 203A, Fort Lauderdale, Florida 33312 +1.954.900.9988 | 26northyachts.com /26northyachts @26northyachts.com
03
A L E T T E R F R O M T H E F O U N D E R S
Made with FlippingBook Online newsletter