Brokers cancelling YachtWorld subscriptions...

I recently caught wind of some large brokerage firms that are leaving YachtWorld. These firms are opting to rely on social media or search engines for exposure to their listings.

Unfortunately, many brokers rely on OTHER brokers to sell their listings. This is part of the leverage that YachtWorld has enjoyed for decades. If the listing is not on YachtWorld, it probably won't be seen by other brokers. Compounding this challenge is the fact that many people with the means to purchase big ticket items don’t use social media.

Over the past few years, YachtWorld has been steadily increasing monthly rates for brokers to be present on their platform. It appears these rate increases don't provide better service but instead, are being used to service the ever-increasing debt load that YachtWorld is operating under. To better understand this, follow this link...

https://www.yachtforums.com/threads/class-action-lawsuit-against-iyba-yachtworld.38399/page-2

Rumor has it that Boats Group (the owner of YachtWorld, BoatTrader, etc.) is trying to get revenue up so they can sell off their holdings. In essence, making their customers pay for a profitable exit.