YachtWorld Gets a Lot of Hate, But Does That Make It a Monopoly?

Curtis Stokes and Now Catamaran Outfits Bail on Listing Service

This is the logo for a private Facebook Group dedicated to resisting YachtWorld price increases. The name of the group is “Boats Group Has Gone Too Far.”

“Frankly, I hope other brokers do stay on YachtWorld and waste their money.”—Curtis Stokes

Has there ever been a more universally reviled player in the American marine industry than YachtWorld? Think about it for a minute. Get back to me.

YachtWorld is the dominant online multiple-listing service for selling boats in the U.S. Now it’s under increasing scrutiny because of a lawsuit seeking to disrupt the entire yacht brokerage system. Corporately speaking, YachtWorld is son of Boats Group, which is son of Permira, which is a British private-investment “megafund.”¹

Boats Group and Permira are defendants in a federal lawsuit, along with more than a dozen big yacht brokerages and two major yacht broker associations, all of whom are accused of conspiring to engage in monopolistic practices that cheat boat buyers and sellers.

Lawsuit Rocks the Yacht-Sales World

Talk to enough brokers, and it will soon become apparent that (were their colleagues not defendant “co-conspirators” with Boats and Permira) many would be cheering for Ya Mon Expeditions, the plaintiff which brought the suit and claims to represent thousands of people who sold boats over the past few years.

There’s even a Facebook Group for brokers who are hating on YachtWorld. “Boats Group Has Gone Too Far” is not very big yet. Its founders are urging members to “please invite 10 additional people” like an old-fashioned chain letter. In the group’s mission statement, they call YachtWorld a “borderline monopoly”: