A federal judge has dismissed a proposed class action lawsuit against the International Yacht Brokers Association (IYBA), the largest yacht brokers' association in the world, and other entities. The lawsuit, brought by Ya Mon Expeditions, alleged a conspiracy to inflate sales commissions.

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In his ruling in Miami, U.S. District Judge K. Michael Moore found that the plaintiffs did not provide sufficient evidence to support their claim that a group of boating brokerages, yacht broker associations, and a yacht listing service colluded to fix broker commissions. Judge Moore also noted that it is reasonable for yacht brokerages to prefer working with sellers who have representation.

Commission

The case, filed by a group of yacht sellers, accused IYBA, the California Yacht Brokers Association, the Yacht Brokers Association of America, and others, including Boat Trader, Yacht World, and Boats.com operator Boats Group LLC, of violating antitrust laws. The sellers alleged that they were coerced into paying a 10% commission on a vessel's sale price, which is then divided between the agents representing both sides of the sale.

According to Ya Mon Expeditions, only boat brokers affiliated with IYBA can list boats and yachts, excluding listings from private boat owners. This, they claimed, gives the defendants and their collaborators control over the market for pre-owned boats and yachts.

Three lawsuits, initially filed in February 2024, drew comparisons to the real estate industry, where home sellers typically pay commissions covering both their agent's services and the buyer's broker. The yacht industry defendants argued that the lawsuits mirrored those against home brokers and the National Association of Realtors.

However, the yacht defendants contended that unlike real estate, no single platform or dominant trade association dictates rules for all yacht brokers, and no platform is indispensable to competition. Judge Moore emphasized that the defendants' actions were a legitimate choice to work with licensed professionals rather than inexperienced individuals.

The dismissal of the lawsuits was a blow to the plaintiffs, as the judge concluded that the defendants' conduct was within the bounds of conducting business with qualified professionals in the yacht industry.