Boathouse Auctions was built solely as an online auction platform for high-quality yachts. The approach combines the benefits of traditional brokerage with the added value of time certainty and the competition and urgency created by an auction. It eliminates ongoing carrying costs by bringing buyers together, at the same time, to accomplish in weeks what quite often can take many quarters or years. In partnership with the listing brokerage, vessels are marketed extensively through a forty-day process. The role of the broker remains unchanged. The seller provides a hull, engine and mechanical survey. Buyer due diligence is conducted during a five-week preview period followed by a five-day online auction. Prospective buyers qualify to bid by placing a deposit into an escrow account. The sale to the highest bidder is final and unconditional and with the conclusion of the auction, the closing is conducted in 30 days or less.