So, Is There Really a 'Rule' That Helps Yacht Brokers Fix Sales Prices?

Hints at a Lawsuit Defense; Plaintiff Asserts Lofty Goal

At left is Todd Lochner, representing one of the two broker associations and Kevin Neal, representing an unhappy boat seller, emerged as spokemen for opposing sides.

Associations representing nearly 3,000 U.S. yacht brokers this week began defending themselves against a $5 million-dollar lawsuit that seeks to dismantle the entire yacht brokerage system as we know it. Lawyers involved have now issued public statements.

And what do you know? The boating media finally decided to cover what will probably be the biggest industry story of the year and maybe next year too.

Soundings Trade Only published its first story Wednesday, six days after the suit was filed in U.S. District Court in Miami and well behind major media outlets Bloomberg and Reuters, not to mention Loose Cannon.

Lawsuit Rocks the Yacht-Sales World

The Trade Only report advanced the story by reporting a single new development. It quoted the International Yacht Brokers Association as saying:

“We are aware of the complaint, which does not provide an accurate portrayal of the yacht brokerage industry, including by suggesting that selling yacht brokers are required to pay the commissions of brokers representing yacht purchasers, or that there exists any conspiracy to inflate any commissions.”