Yacht broker asks to be removed from antitrust lawsuit

A Fort Lauderdale-based yacht broker is seeking to dismiss a lawsuit alleging that it and numerous other members of South Florida’s yacht industry engage in unfair competition by requiring 10% commissions be paid by purchasers of preowned boats.

Denison Yacht Sales is the first of a group of yacht brokers, mostly based in South Florida, to respond to allegations leveled in three antitrust lawsuits filed in U.S. District Court in Fort Lauderdale.

The lawsuits claim that trade associations, including the International Yacht Brokers Association, work in conjunction with Multiple Listing Services and individual yacht brokers to require that commissions are paid to brokers for both sellers and buyers.

The first lawsuit was filed by Wyoming company Ya Mon Expeditions on Feb. 29.

The second lawsuit was filed on March 22 by Alabama customer Kip Lamar Snell, while a third was filed on March 26 by a company called Magna Charter LLC, identified as a yacht purchaser who paid a commission.

On Monday, a federal judge assigned to two of the three lawsuits agreed to a request to consolidate them into a single suit.

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