Kitson Sells $2 Billion New Build And Brokerage Yachts In 4 Years
Two of the three co-founders, Michael Tabor and Brandon Kummer, made five sales totaling over 240 feet in less than two years. Brandon was the first broker younger than 32 to sell three Feadships. Feadship Royal Dutch Shipyards is one of the leading superyacht shipbuilders.
Kitson's average yacht charter transaction size is $1.3 million, with an average charter boat length of 228 feet. Their average sale transaction features yachts over 164 feet. In late February, Kitson announced the successful sale of the under-construction, 240-foot Admiral Yacht Project Il Primo, acting as the seller's representative.
Adding to the strong resume for this young firm, Kitson recently signed a partnership with TISG, The Italian Sea Group, as the authorized sales agency for North, South, and Central America. TISG is the parent company for Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit, and Celi yacht brands. TISG delivered more than $440 million in revenues for 2024 and has more than 700 employees working on seven European production sites.
Kitson commented, 'Kitson Yachts is thrilled to partner with the largest shipbuilder in Italy, The Italian Sea Group. We look forward to elevating the presence of TISG craftsmanship across the vast geography of the Americas,' aligned with Giovanni Costantino's accord, "I am sure that Kitson Yachts will be the perfect ambassador for TISG in a free market.'
Kitson also recently unveiled ultra-posh new digs in Miami's Sunset Harbour neighborhood, making it an inviting space for clients to embrace the yachting pursuits of their family business. Needless to say, with a growing list of billionaires in North America and the fact that Americans make up about 45 percent of the superyacht industry, they are busy.
Tabor comes from an investment banking and shipbuilding background. Kummer, Tabor says, is a yacht broker through and through. Their business model approaches these large transactions in an institutional, business-like way, working hard to understand what makes each client tick.
Approaching clients in a concierge, family office philosophy, they earn trust and build confidence as they educate an already very astute client list. Kitson makes the programs work for their clients, rather than making the programs work for the industry. Tabor refers to it as unwriting the rules.
Kummer adds that the industry status quo for new yacht brokers expects them to take progressive steps leading up to the sales of bigger, more prestigious yachts. Kitson ignored the learning curve and went right to the top, calling Feadship with a client early on, saying, 'Let's do this!' That one sale turned into three, and their trajectory has gone nowhere but up.
These guys get it. A sale is not always about price. The superyacht industry is pushing its own limits in terms of amenities, technology, and absolute luxury, and those shiny new details are often attractive to buyers.
Kitson helps clients sort through the details to build the yacht they want, which is often quite different from the yacht clients thought they wanted earlier in the buying process. Tabor and Kummer spend many all-nighters analyzing and comparing vessels, ideas, designers, and shipyards. They often end up building something very different from what was discussed in early conversations.
Tabor adds that their job is to help clients through the process safely, with consistency, while having fun throughout the process. The easiest part of it all is to buy the boat. The work that goes into taking a client from 'I want a yacht,' through the entire process, to delivery and beyond.
Tabor explains that their approach gets them thinking three to five years out, having those hard discussions with the client and solving problems through discussions that shape the brief. Some of the realities explored in those discussions are awkward. Elephants in the room, if you will.
Kummer adds, 'Addressing that head-on is where you create the bond with the client.' He also noted that's what they love about the yachting business. One minute they are challenged by new construction, acting as technical surveyors, and the next minute they may be fulfilling the role of a therapist, working to understand the nuances of client behavior.
If they have a 5-minute elevator pitch, they delivered it to Feadship. The conversation went something like, 'Let's not overcomplicate this. Let's go build you a yacht. We'll put the right team in place. We'll have your best interests at heart, but we're going to make it really fun, pain-free, and not stressful.'
Working with Admiral Yachts, Kitson announced the 288-foot Project Spyder, scheduled for delivery in 2027. Working closely with the owner, Kitson developed a brief, then began their process, selecting TISG for its 3D technology and integrated digital platforms, Espen Øino for his exceptional, sleek exteriors, and FM Architettura for their chic interior design perspective.
What's different about Spyder? Amid the gracious indoor spaces and expansive outdoor lures, Spyder welcomes 18 guests in nine staterooms. The owner's bridge deck suite features a circular private deck with great views. An upper deck and a forward-facing observation lounge, a 10 by 30-foot pool overlooking a 1,000 square foot expandable beach club, and an exterior silhouette, all designed around the owner's desire to bring several generations of family together for memorable journeys.
In the end, Tabor concludes, 'It's all about taking really, really good care of our clients.' Kummer adds, 'Your reputation is everything.'
All of the pieces of creating a custom superyacht come together on the day that puts owners on board for their first voyage on the superyacht of their dreams. Kummer admits that some owners are so overcome by emotion that it prompts a teardrop or two as they realize the sheer number of workers it has taken to build this precious new addition to their family.
Kummer notes, 'It's the best reward ever because you're sharing that moment with some of the more powerful people in the entire world … it's just raw emotion. It's pretty special.'
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