A Conversation with Matthew Stone, IYC Yacht Broker of The Year

BY SUSAN KIME

Matthew Stone has devoted more than half his life to the yachting industry. Growing up in South Florida, Stone realized early that he felt more comfortable on and in the water than on land, so his interest and comfort with sailing became his passion and became his career. It was in 2016 that he moved from being a yacht captain to a yacht broker, and in 2020, he was nominated for the coveted International Yacht Broker’s Association (IYBA) award for Outstanding Young Professional in Yachting. In 2018, 2019 and 2022, he earned Broker of the Year.

His professional growth accelerated recently, as he now represents International Yachting Company (IYC), one of the largest and most reputable global brands in yachting. In November of 2022, IYC opened its doors to the San Diego yachting market, with its new offices on Shelter Island, on Mission Bay. Stone leads the team, where he and his team have listings and multiple others in the pipeline. We recently spoke with him about his winning Broker of The Year and how the future looks for the yachting industry.

Were you surprised when IYC chose you as Broker of The Year, and why did they choose

you?

I knew many were in the conversation for Broker of The Year, but yes, I was surprised they chose me. Yet, I did know that I sold 1,100 feet worth of yachts. That means, basically, I sold many 150foot and 140-foot yachts and so on. This is a good way of defining a parameter of success because yacht pricing goes up and down, but the yacht dimensions stay the same.

In an earlier article about the yachting business, I read that selling a yacht is sometimes like selling a home. Can you discuss this a little?

While there are some parallels between the process of selling a yacht to that of selling real estate, the sales processes seem very different to me. The complexity of buying a yacht is far more rigorous than a house. You’re dealing with complex equipment surrounded by saltwater in most cases. And in many cases, we, as salespeople, must remember that many of those who come looking for a yacht are not always completely aware of what they want. We must peel the layers of the onion, so to speak, but thankfully we know how to do it. We ask how often they will use it, if and how many members of the family will use the yacht, what experience they have in yachting, what they are looking for in a crew and things like that.

Another example is most people need real estate, you don’t need a yacht, and for that reason alone, you may only have a handful of people that could be prospective clients for a particular yacht. Additionally, when purchasing a yacht, you are buying an ultimate luxury asset. Lastly, in my opinion, there is far more emotion when purchasing a yacht; it’s a lifestyle, a lifelong dream, a passion, and at times there are even elements of impulse. But most people don’t impulsively buy real estate.

Has IYC partnered with any substantial boat builders in the past year?

Yes, we have just partnered with Cantiere Delle Marche, or CDM, a shipyard in Ancona, Italy, on the Adriatic. There will be more about this in the coming weeks.

Have you seen the luxury yacht market evolve over the past few years?

Yes, absolutely, and in all facets of the industry, starting with construction methods and ending with the consumer. Technology advancements making yachts more efficient and safer. Diesel alternatives are allowing yacht owners to operate their vessels in an environmentally responsible way. The consumer (and how they use the vessel) is also evolving, with several new buyers entering the marketplace to get family, friends and loved ones together in the safest environment possible.

Finally, where do you see the high-end yacht market growing or contracting over the next five years?

We no doubt see that the yachting market will continue to grow. We continue to see new buyers enter the marketplace who want to enjoy time with family, friends and loved ones in a controlled environment. Experienced owners’ needs and wants are evolving, and IYC will evolve with them.