As the 2018 fall boat show season kicks off, Boathouse Auctions, Inc., proudly announced the launch of its yacht auction platform focused exclusively on high-quality vessels.
According to YachtWorld, the world’s largest yacht multiple listing website, average days on market for high-quality vessels often approaches and sometimes exceeds a year. This number rises sharply as vessel size increases. A recent YachtWorld Market Index reported vessels 46’ and larger averaged one year or more on the market, with 80’+ sailing vessels topping the chart at 867 days.
“Whether it’s a client focused on the time value of money or alternative uses of capital,” said Jack Mahoney, co-founder of Boathouse Auctions, “or one with a life change, or an eye on a new vessel, owners of high-quality yachts facing a journey longer than desired have a dilemma – they’re faced with further price reductions or more hope.”
“Our premise is straightforward: if an owner knows their bottom line, as they typically do, why not bid the price up from there?” said Peter Amos, co-founder at Boathouse Auctions. “Rather than chasing a market in hopes of finding a single prospective buyer over a long period of time in a process that could have little urgency, why not consider an auction where prospective buyers compete over a six-week period?”
Boathouse Auctions solves the problem of time. By working exclusively through yacht brokers, they bring owners and buyers together on a secure, private and transparent online auction platform.
Chad Roffers, Chairman of international luxury real estate company Concierge Auctions, agrees with the broker-loyal approach and need for liquidity, “Online auctions in high-end asset classes have risen sharply since 2012 as owners of high-quality assets are looking for time-certain solutions, valuing liquidity as an asset versus the reality of a long and uncertain sale process at a significant cost to carry.”
About Boathouse Auctions, Inc.
Boathouse Auctions provides vessel buyers with greater value, owners with liquidity and a time-sensitive solution, and brokers with commission protection in a private experience that’s efficient for all. See listings, submit vessels, and learn more at:
https://BoathouseAuctions.com/