The yacht market is continuing to heat up, according to Kevin Merrigan, broker for Fort Lauderdale, Florida-headquartered Northrop & Johnson, who shares what he sees as trends for the coming year in yacht sales in the South Florida market.
“In yachts over 80-foot last year, the market experienced a slight dip. This was excellent for buyers as they picked off the best condition yachts at the best price point. Under 80-foot, the market has seen a steady growth of sales. Any wise buyer will move quickly on a well maintained, well priced yacht so they can quit shopping and start cruising. A wise seller will ensure that their yacht is in excellent condition, all the sales paperwork is ready to go, and price the yacht at market level,” says Merrigan.
Merrigan, a 27-year industry veteran, certainly knows what he’s talking about. He was named Broker of the year for 2016 by the International Yacht Brokers Association (IYBA, formerly the Florida Yacht Brokers Association), the largest association of yacht brokers worldwide with more than 1,200 members. The Broker of the Year award is presented to a sales broker in recognition for his or her outstanding dedication and contribution to IYBA and the entire yachting industry. www.northropandjohnson.com