[YA MON EXPEDITIONS, LLC v. INTERNATIONAL YACHT BROKERS ASSOCIATION, INC. et al]
In a class action lawsuit, Wyoming-based boat dealership Ya Mon Expedtions LLC claims that several large yacht brokerages are in violation of the Sherman Antitrust Act with the inflation of brokerage commissions in recent boat sales
In the 31-page lawsuit, the dealership alleges that the defendants, among them the International Yacht Brokers Association (IYBA) and Boats Group LLC, are part of a large understanding that conspired to force Ya Mon Expeditions to pay an inflated amount to the broker in question of 10% commission generated from the sale price of the boat, subsequently split between both parties involved in the sale.
This filing comes off the heels of a recent class action anti-trust case in the real estate sector where the courts had to reconcile with the question of whether anticompetitive agreements violate antitrust law with home sellers paying inflated commissions to brokers. The case was settled in February 2024 with $208.5 million collectively agreed to be paid.