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MYS 2012: Kevin Merrigan Discusses The State of the Market
Kevin Merrigan has been in the superyacht industry for over 25 years, and as President & Partner of Northrop & Johnson, his expertise is highly sought after.
At this year’s Monaco Yacht Show, Northrop & Johnson are proudly showcasing the 128’ Feadship GO to over 30,000 expected visitors to Port Hercules.
During the first morning of the show, Kevin joined us at the Breaking News Centre amidst a busy schedule to discuss his expectations for this year’s MYS, the US yachting industry and his projections for the next few years.
“This is probably one of the most exciting shows ever,” he enthused. “There’s more amazing yachts here than ever before. We’ve changed our location here at the show, we’re more on the main drag and we’re happy to be there.
“I think you’re gonna see several yachts sell – that’s my prediction.”
After introducing a legion of new central agencies, price reductions and sales over the past year, Northrop & Johnson have been extraordinarily busy. Mr Merrigan commented on the current state of the market and how his company keeps ahead of the curve.
“I think statistically the market’s down about 25% today on the 24-metre and above, but I think if you’re a savvy buyer it’s an excellent opportunity. In 25 years I don’t think I’ve ever seen a better buying opportunity.”
He continued: “It’s a cyclical market. Our clients come in and out of the market for different reasons – either they’ve inherited money or they’ve sold a business or they’ve just decided that life is short and this is a lifestyle they want to participate in.
“So you can never predict […] but what you can always predict is that there will always be a market and a savvy buyer will always appreciate the value that is out there to be had.
With superyacht Go on display and only one day in, Northrop & Johnson, one of the world’s leading US brokerage firms, are sure to make an impression at the 22nd edition of the Monaco Yacht Show.