Boathouse Auctions Launches Unique Online Yacht Auction Platform
Sep. 07, 2018
FAIRFIELD, Conn.--(BUSINESS WIRE)--Sep 7, 2018--As the 2018 fall boat show season kicks off, ., proudly announces the launch of its yacht auction platform focused exclusively on high-quality vessels.
“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 sales cycle longer than desired have a dilemma – they’re faced with further price reductions or more hope.”
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.
“Our premise is straightforward: if an owner knows their bottom line, as they typically do, why not bid the price up from there?” says 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?”
Working exclusively through yacht brokers, Boathouse Auctions solves the problem of time with a secure, private and transparent online auction approach, explained in this brief video by co-founder, Kevin Lohman.
Chad Roffers, Chairman of international luxury real estate company , agrees with the broker-loyal approach and need for liquidity, “Online auctions in high-end asset classes have risen sharply as owners of such assets look 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:
View source version on businesswire.com:https://www.businesswire.com/news/home/20180907005040/en/
CONTACT: Boathouse Auctions
Jack Mahoney, 203-405-5550
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: LUXURY TRAVEL CRUISE GENERAL SPORTS RETAIL SPORTS
SOURCE: Boathouse Auctions, Inc.
Copyright Business Wire 2018.
PUB: 09/07/2018 06:36 AM/DISC: 09/07/2018 06:36 AM