Boathouse Auctions Help Sell Yachts Quickly

Boathouse Auctions, which shortens a yacht’s sale time, is now working with yachts as big as 150 feet length overall.
Boathouse Auctions
Boathouse Auctions recently sold this 2016 Viking 82. Seven bidders placed 32 bids and ended well above the reserve price. [gorodenkoff]/

It’s expensive not to sell a boat. That’s the basic premise behind Boathouse Auctions, where director Jack Mahoney says two types of yacht owners are now having success. “One is, ‘I have the best boat, but I don’t know how many days it’s going to take,’” he says. “The data shows the boat might be on the market half a year or three quarters of a year, so they might choose to explore Boathouse Auctions because of the time value of money, to have the boat sold in 40 days.” The other type of owner has a boat that’s been on the market for a while. “They’re frustrated,” he says. “Nobody wants to buy the boat.”

Instead of waiting indefinitely for a buyer and carrying the ownership costs, the auction moves the process along with a reserve price that must be met. “It’s really the market and the seller wanting to take more control over the market,” he says.

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