Yachts, Picassos, and Ferraris

When we spoke by phone, Ballard, now 43, had just finished a six-hour marathon call wheeling and dealing Andy Warhol prints. A far cry from life aboard a superyacht—but not so different in spirit. After his last boat was sold unexpectedly, Ballard pivoted from solving problems for the ultra-wealthy to building House of Assets, a new luxury marketplace offering everything from Picasso paintings to fractional shares in racehorses.

The idea came from personal frustration. When he tried to resell some of his art back to its original gallery, he was told they didn’t buy back. “They recommended I sell on eBay,” Ballard recalls with a wry laugh. “That didn’t seem right to me.” Another time, he bought whiskey from a “well-known auction site,” only to be hit with high shipping and insurance fees. These frustrations cemented his determination to create a better alternative.

After nearly a year in development, House of Assets debuted in October with a launch party at British jeweler Theo Fennell’s London studio. Combining exclusivity, discretion, and white-glove service, the platform reflects the hallmarks of Ballard’s former life.

While Ballard reports the online marketplace has grown steadily, particularly with Europeans—besides UK buyers, the site’s “had quite a few hits from Monaco and France,” he notes—an unexpected surge in demand for private sales completely upended his business plan.

“We thought the marketplace would be the main draw, but private sales are really taking off in a big way,” he says. What began as a purely online marketplace quickly evolved into a hybrid model, with discreet backend transactions drawing clients from the Middle East, Asia, Europe, and the U.S—a rapid pivot that, as Ballard puts it, has allowed them to go “from zero to hero in a month.”

And the private market’s been busy. “We nearly sold the most expensive Picasso painting in the world but got beaten by an investment fund,” Ballard says. An $11 million artwork offered at Art Basel also came through his backchannels. Yet Ballard insists, “I am in no way pretending to be an art dealer. I’m helping negotiate between buyers.”

Thanks to partnerships with top art advisors and investment funds in New York, the UK, Luxembourg, and Monaco, House of Assets offers access to multiple billions’ worth of artwork, according to Ballard. Net net: From $20,000 Warhol prints to $20 million investment pieces, House of Assets’ network can find it.

Art may be a cornerstone, but the platform’s reach goes far beyond it. House of Assets also offers fractional ownership of thoroughbred horses through an exclusive partnership with Highclere Thoroughbred Racing, the racehorse syndicate founded and chaired by Harry Herbert, whose family has owned Highclere Castle—the English estate made famous by Downton Abbey—since the 17th century. Buyers can purchase shares in horses that come with perks like race-day access and invitations to private events. “With Highclere, it’s a lot to do with the networking and the social side of it,” Ballard notes.

Luxury handbags, cars, and watches are also in demand. A recent client from Seattle DM’d on Instagram to purchase a Chanel bag. Another was about to fly into London from the Middle East to inspect a rare Patek Philippe watch. And many just want what they want—and don’t hold back from asking for it. “People come to the platform for certain things,” Ballard says, “but then message us to source something else entirely—like a Ferrari F40.”

House of Assets charges no fees to list, and low fees on sale, making it an appealing option for sellers, including those who’ve long listed elsewhere, like 1st Dibs. And Ballard is frank about the business’s ambition: “If we get just one percent of Sotheby’s market share, we’ll survive.”

It’s a far cry from Ballard’s sailing days—exploring ports in 97 countries from the Middle East to the Caribbean. “Every country has something unique about it,” he reflects, citing the British Virgin Islands, Cambodia, and St. Barts as personal highlights. His transition from yacht captain to luxury marketplace founder may seem unexpected, but for Ballard, the approach is the same. “Treat clients well, go the extra mile, and they’ll stick with you,” he says.