LYBRA is a trade association for superyacht brokerage companies who have a fleet of Central Agency yachts with an LOA greater than 30m. It aims to bring the biggest companies together to discuss current issues and to address the future concerns of the superyacht industry, which are common throughout each individual company, regardless of the industry competition they may face day-to-day.
The most commonly asked questions are below:
1. When was LYBRA founded?
LYBRA was officially founded in 2012, although the idea for such an association has been growing amongst the large brokerage houses for many years.
2. Why did LYBRA come about?
Over the last few decades, the brokerage business has seen a change of interests and problems as companies grow in size to a few people with a few hundred thousand in annual overhead to several international offices with several million in overheads. As such, the founding members of LYBRA wanted to work together to solve the major problems and concerns affecting the large brokerage houses, as it is their belief that by uniting together, these issues will be resolved.
3. What are their goals?
LYBRA's goal is to bring together the biggest companies to discuss and resolve current issues and to address the future concerns of the industry, tackling issues which are of shared interest to the large brokerage houses or the wider brokerage community. This includes topics such as money laundering, corruption, the Bribery Act, tax as well as yacht shows and events and much more.
4. Who are the founding members?
The members are: Burgess, Edmiston, Fraser Yachts and Ocean Independence, as well as Eric Blair, Secretary General of LYBRA. Eric brings his independent point of view to the Association, overseeing all matters for discussion to ensure that these are dealt with and that LYBRA becomes an influential voice in the superyacht industry.
5. Is LYBRA open to new members, or is it a closed organisation?
Yes, LYBRA is open to any superyacht brokerage company subject to suitability.
6. What are the requirements for membership?
The potential member must have been operational for at least 2 years, have had for sale at least 10 yachts over 40m in the last two years, have had for charter at least 10 yachts over 30m and must be proposed by two members of the association.
7. Why can't brokerage companies join who have smaller yachts?
LYBRA was created in recognition that the large yacht industry has changed and moved away from the business model which is followed by the smaller yacht companies. Whilst both smaller yacht and bigger yacht companies face the same ups and down of the industry, the issues affecting our sectors are very different. As a superyacht broker organisation, we are more concerned with bribery, tax and money laundering than a smaller yacht brokerage would be, as well as a number of other differences.
8. Is LYBRA intending to replace MYBA or make it defunct?
Absolutely not – MYBA is an association of independent brokers, mainly charter brokers, whilst LYBRA is a trade association. Common issues could be dealt with jointly; nevertheless due to this difference in types of memberships some of the issues relevant to LYBRA [those affecting the companies as a whole] may not be of interest to MYBA [for example those affecting the brokers directly] and may be in opposition. It is our aim to work alongside and to continue to have corporate and individual membership with MYBA, so that we can work together on issues that affect both the brokers and their companies.
9. Is LYBRA going to create a monopoly of the largest yacht brokerage houses?
No, it is not our intention to create a monopoly, nor is that what LYBRA will be. LYBRA is for large yacht brokerages houses, of which there are approximately 20 world-wide. It is our aim to unite all of these companies together to work together on the issues facing our companies, which as stated before, differ to those of smaller yacht companies.
10. What is the future objective of LYBRA?
LYBRA aims to allow the large yacht companies the ability to speak as one voice on issues that affect them and to maintain one common policy for owners and purchase or charter clients.