Active Interest Media, YATCO and Boathouse Auctions today announced a marketing partnership that they said will change the yacht resale market. The three companies said in a statement that their partnership focuses on creating an “efficient way to match buyers and sellers while providing yacht brokers and clients with an accelerated alternative to the traditional brokerage process.”
“Sometimes it just takes too long to sell a yacht,” said Jack Mahoney, CEO of Boathouse Auctions, in the statement. “That’s why we built Boathouse Auctions — to help yacht brokers and owners solve the problem of time. We put control of the sale in the hands of the broker and owner by allowing them to set a firm sale date and minimum acceptable price. At the same time, we provide attractive opportunities for buyers who can act with urgency.”
The online auction platform helps yacht owners expedite sales, Mahoney said, while charging no fees to the broker or owner to sell. “Broker commissions are always paid in full,” he added.
Gary DeSanctis, president of Active Interest Media’s Marine Group, said the business model is one of the most compelling breakthroughs he has seen in years. “It’s the mission of the AIM Marine Group to educate the boat-buying community and help facilitate the sales of new and brokerage boats,” DeSanctis said. “This strategic partnership helps us fulfill our mission in a new and very exciting way.”
Active Interest Media is the parent of Soundings Trade Only.
Steve Myers, president of YATCO, welcomed Boathouse Auctions as a new service to accelerate transactions. “Boathouse Auctions provides our 2,000-plus professional brokers the ability to define a timeline for sellers and create additional enthusiasm in the buying process,” Myers said. “This partnership is a win-win-win opportunity for buyers, sellers and professional brokers in the industry.”
The recent sale of a 2006 Molokai Strait 75 proves that the process can quickly attract multiple qualified bidders, Mahoney said. After being listed on the brokerage market for more than a year, the expedition yacht sold within weeks, with five parties expressing strong interest.
“As a seller, the lack of a pending event plus the extended due diligence a buyer requires creates a buyer-advantaged process,” said Edward Lipkin, the yacht’s former owner. “Boathouse Auctions has successfully and politely modified the yacht sales approach to bring this archaic process into the 21st century, and I am thrilled with the result.”