A 2020 roundup by Edmiston brokers
With the year 2020 now coming to an end, our brokers are happy to report their insight of the past year.
Despite the circumstances that limited travel this year, Edmiston has ended the year on a high, exceeding the industry average when it comes to brokerage in 2020 and seeing a huge increase in interest for its summer charter bookings , with the outlook good for 2021 bookings.
At Edmiston, we began 2020 with high expectations for the sales market. The number of sales in January and February surpassed those of the same period in 2019, however, in March restrictions on cruising and travel came into effect, which had a clear impact on sales across the globe.
By May, the market started to rally, and we witnessed an upward trend of strong sales, which continued. Sales from June through to the end of October were in fact up 18% on the same period in 2019.
In total, in 2020 Edmiston sold 22 yachts over 30 meters, which averages out as 1.6 yachts sold by each broker, double the industry average, making Edmiston the most efficient large brokerage in the industry. Of these, two thirds of the sales were motor yachts and one third were sailing yachts.
Our overall sales accounts for 32% of our central agency fleet . Of the wider global market, Edmiston represented 1/3 of the yacht sales in the in the 50m and over category . From this category, we sold one yacht in eight of the 12 months of this year.
This year we have seen clients in both the sales and charter markets rallying back strongly. One particularly strong performing market segment is the 40-50m category, having seen a reduction of 23% of the time taken to sell than what we saw in 2019.
Notable deals include LEANDER G, PERSEUS 3, TRIPLE SEVEN, GRACE, AUSPICIOUS, RESILIENCE (now ARBEMA), RUSH, KOO, and JEDI (now SAFE HAVEN).
The total value of brokerage yachts sold in 2020 over 30m is €2.65bn .
Similarly, when it came to charters, Edmiston saw almost double the number of bookings in July as we did in 2019. Edmiston’s growth in non-Med based summer charters is up 44.8%.
We have already seen stronger demand for pedigree yachts over the December and January period than in previous years. Given our success in delivering Covid secure charters over the summer we expect this demand to strengthen further and availability to become even more limited.
Confidence in the charter industry is still high and we have taken on over 900m of new charter CAs, including LA DATCHA, GAME CHANGER and SEVERIN*S, which we are confident will be popular with our clients in the year ahead.
To find out more whether you are looking to buy or sell, please contact us.
21st December 2020 |