Judge throws out antitrust lawsuit against yacht brokers

A judge from the US District Court for the Southern District of Florida has dismissed an anti-trust, class action lawsuit brought by a group of boat sellers against the International Yacht Brokers Association (IYBA) and a number of large brokerage houses named as co-defendants.

The complaint alleged unlawful practices surrounding the sales commission and listing structure for used yachts, arguing that the defendants conspired to fix commissions above what they would "otherwise be in a competitive market", and refused to deal with sellers who are not represented by a licensed broker.

However, the judge ruled on Tuesday 21 January that the plaintiffs failed to show "direct evidence of an agreement or conspiracy", nor was it unreasonable for brokerage firms to conduct business with licensed professionals, "rather than individuals who may be unexperienced or unfamiliar with the process of selling a used yacht".

Based on these findings, the judge chose to grant the defendants' joint motion to dismiss the complaint without prejudice, meaning the plaintiff can refile a second amended complaint within 21 days of the ruling.