Did you or your company sell a vessel, boat, or yacht since March 26, 2020, through any of the following brokers?

• BOATS GROUP, LLC
• PERMIRA ADVISERS, LLC
• YATCO, LLC
• INTERNATIONAL YACHT BROKER’S ASSOCIATION, INC.
• YACHT BROKER’S ASSOCIATION OF AMERICA
• UNITED YACHT SALES, LLC
• DENISON YACHT SALES, INC.
• DENISON NEW YACHTS, LLC
• NORTHROP & JOHNSON YACHT SALES, LLC
• HMY YACHT SALES, INC.
• GALATI YACHT SALES, LLC
• HMY YACHT SALES, INC.
• MARINEMAX, INC.
• SHARON & JACK MALATICH, LLC
• TOURNAMENT YACHT SALES, LLC
• RJC YACHT SALES, INC.
• THE MULTIHULL COMPANY, LLC
• SUNSHINE CRUISING YACHTS LLC
• CATAMARAN SALES, INC.

An antitrust class action has been filed alleging that these Defendants conspired to artificially inflate the broker commissions paid by those persons who sold a vessel, boat, or yacht (collectively referred to herein as a “Yacht”) via relevant Multiple Listing Services (the “Yacht MLSs”).

Specifically, it is alleged that Defendants have conspired to charge Yacht sellers an inflated commission rate, commonly 10% of the purchase price of the Yacht, whereas realtors have charged a commission of 5-6%.

Defendants have enforced the Broker Rules through their tight control over the Yacht MLSs and the International Yacht Broker’s Association, Inc.’s (IYBA) and Yacht Broker’s Association of America, Inc.’s (YBAA) anti-competitive “ethics” rules.

Boats Group, LLC owns three significant Yacht MLSs: Boat Trader, YachtWorld, and Boats.com. Additionally, Yatco, LLC owns another large Yacht MLS called Yatco. The International Yacht Broker's Association (IYBA) owns yachtbroker.org, which is also a major Yacht MLS in the country. The defendants, along with Boats Group, Yatco, and the IYBA, are alleged to have conspired to control these Yacht MLSs and enforce the Broker Rules.

The Defendants have arranged the Yacht MLSs in a way that hides information from the public. This setup provides brokers with an unfair advantage, leading to commissions that are higher than what would exist in a competitive market. Additionally, the alleged conspiracy effectively prevents sellers from engaging in private transactions without involving brokers.

The class action covers “all persons in the United States who, from March 26, 2020, to the present (“Class Period”) used a Yacht MLS to sell a Yacht and paid a commission to a Brokerage Defendant or a broker affiliated with one of the Defendants” listed above.

If you or your company paid a commission for the sale of a vessel, boat, or yacht to any of the companies listed above at any time after March 26, 2020, you may have been overcharged and may be entitled to recover financial damages as well as potentially a court approved service award, if appropriate, at no cost to you.

If you would like to learn more about this matter, you are encouraged to contact Joshua H. Grabar at [email protected], or call 267-507-6085.

A copy of a retainer letter for this matter can be viewed here: Yacht - Antitrust Retainer Letter