A group of yacht organizations and brokerages are facing a proposed class action accusing them of an agreement that resulted in inflated costs for the sale of vessels.
The International Yacht Brokers Association, the Yacht Brokers Association of America, and several large yacht brokerages enforced an agreed-upon rule requiring sellers to pay higher commissions to buyers’ brokers, according to a complaint filed Thursday by yacht seller Ya Mon Expeditions LLC in US District Court for the Southern District of Florida. The arrangement made the cost of selling a boat much higher than it ought to be, the plaintiff alleged.
The ...
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