We have modeled the dynamics of a relatively new deposition technique, vertical colloidal deposition (VCD), for preparing nanoparticle thin films. In this process, the substrate is placed vertically in a nanoparticle suspension and is gradually exposed by evaporation or other slow solvent removal. During the film's formation, we observe that the colloidal particles are deposited only at the solid-liquid-gas interface. In contrast with the horizontal geometry, treated elsewhere, where the meniscus is pinned, we observe qualitatively different deposition behaviors. In particular, uniform films rather than rings or lines are produced. Thus, we are led to model a diffusion-driven rather than a convection-driven film growth kinetics, and we are able to predict, consistent with our experimental observations, that the film's areal density is inversely proportional to the descent speed of the suspension surface. Additionally, we find that for submonolayer films, the areal density is proportional to the square of the suspension concentration, converting to a linear dependence once monolayer coverage is attained.