GOODBYE NEGOTIATION. HELLO COMPETITION.

Gone are the days of endless negotiation and inevitable costs and depreciation. With its time-sensitive live online auction approach, Boathouse Auctions creates a sense of urgency in an otherwise sluggish traditional yacht market  reducing the sales timespan from months and years to six weeks or less.

Here’s how it works:

  • Seller selects the date they would like to sell their vessel
  • Seller selects the Reserve Auction or Absolute Auction option
  • Brokerage responsibilities remain unchanged; commissions are paid
  • The entire process takes approximately six weeks from start to finish
  • Prospective buyers bid through an open and transparent platform
  • Buyers pay a 5 percent “Buyer’s Premium”

frequently asked questions
  • WHAT IS REQUIRED OF THE SELLER?
  • The seller must provide hull and engine surveys performed by well-known, respected surveyors. The survey is provided as an independent assessment of the vessel for prospective buyers and will be posted in each auction listing in the “Vessel Detail” box. Since all sales are final and unconditional, surveys give prospective buyers a reasonable understanding of the vessel condition prior to performing their own due diligence within the auction preview period.

  • WHAT IS THE ROLE OF THE YACHT BROKER?
  • The broker’s responsibilities remain unchanged. Brokers address questions, perform showings, attend sea trials, and manage the closing and financial transactions. It is important to note that all prospective buyer due diligence is conducted during the preview period. After the auction is complete, sales are final and unconditional.

  • HOW DO BROKERAGE COMMISSIONS WORK?
  • Listing Brokers and Selling Brokers are compensated via commission terms outlined in the listing agreement. We do not conduct auctions without a Listing Broker and commissions offered to the broker representing the buyer. The results are simply better through collaboration with yacht brokerage professionals.

  • WHAT IS THE REGISTRATION AND BIDDING PROCESS?
  • All auction participants must register prior to bidding on any vessels. Once registered, a deposit/escrow is required to bid. Details can be found within each auction listing. Should you have questions regarding registration or how to place a bid, don't hesitate to give us a call  203.530.3870

  • ARE PRE-AUCTION SALES AVAILABLE?
  • Yes, vessels at auction are available for pre-auction sale. If a prospective buyer makes an acceptable offer, the vessel will be removed from the platform prior to the start of the auction.

  • ARE SALES FINAL AND UNCONDITIONAL?
  • Yes, all sales are final and unconditional. Unlike a traditional yacht sale where due diligence is performed after the initial agreement and price negotiations, all due diligence is performed prior to bidding. A seller’s survey report is provided with each listing to add transparency and aid prospective buyers in determining interest. Bidders are welcome to utilize a surveyor of their own to conduct a traditional survey, validate existing information, or provide further inspection.

  • WHAT IS THE 2 MINUTE RULE?
  • When bids are placed within the final two minutes of an auction, the clock is automatically reset to two minutes. This functionality is in place to deter just-in-time, last-second bidding while also allowing each bidder the time needed to consider and input their next bid. Boathouse Auctions also reserves the right to extend or alter final auction-end times, as necessary.

  • WHAT IS THE 5% BUYER'S PREMIUM?
  • Prospective buyers are able to name their price via a straightforward, transparent bidding process. The 5% Buyer’s Premium is Boathouse Auctions’ fee for managing, marketing, promoting, and advertising each auction. This 5% fee is paid by the successful bidder, based on their highest final bid price.

  • ONCE I REGISTER CAN I BID?
  • Not quite  a deposit/escrow is required to bid on all vessels. See the auction listing for specific details pertaining to each particular vessel.

  • HOW DO I KNOW IF AN AUCTION HAS A RESERVE?
  • If there's a reserve price, the reserve is clearly stated in each auction listing. Bidding, however, will open slightly below the reserve price. If the reserve is met or exceeded, the vessel will be sold to the highest bidder. Should bidding finish below the reserve price, the seller holds the right to accept or reject the offer for a period of 24 hours following completion of the auction.

  • WHY ARE THE PRICES GRAYED OUT?
  • Anyone can view the current bids as long as they are registered and logged in to the site. 

  • Interested in knowing about new listings?