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. If the listing is not on YachtWorld, it probably won't be seen by other brokers. This is part of the leverage that YachtWorld has employed for decades. Brokers choosing FB or Instagram to promote listings face a difficult challenge. Most people with the means to purchase big ticket items don’t use social media. Plus, who uses social media to find a boat? They use search engines or listing sites.

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 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 on the water is that Boats Group (the owner of YachtWorld, BoatTrader, etc.) is trying to get revenue up so they can sell off their holdings. In short, making their customers pay for a lucrative exit.