Like Tree0Likes

Is Cigarette In Trouble?????

Reply
Old 06-29-2004, 06:04 PM
  #11
Registered
 
IDRPSTF's Avatar
 
Join Date: Sep 2001
Location: In your driveway while you sleep
My Boats: Whatever you missed your payment on
Posts: 1,759
Default Re: Is Cigarette In Trouble?????

There is a huge difference between Dealer inventory boats, and Brokerage boats when it comes to sitting for years.
A dealer can continue to make money on a boat that sits on there lot (Through new orders).
However a Brokerage boat looses value by the day. Some boats have high asking prices due to owners that have not been "enlightened" on what there boat may actually sell for. The broker wants the exclusive contract so bad they will list the boat for whatever the NADA, BAC, KBB or owner feels the boat is worth...Plus 10% Broker fee. This in turn causes a boat to sit and devalue while potential buyers shop at more confident brokerages who muster up some guts and tell sellers what the boat will really sell for, rather than what they want to hear it may sell for. (Difference between professionals and yes men!) Unfortunately the boat owner (Seller) is the looser in this scenario because they are paying on the note, the insurance, registration or documentation, detailing fee's, etc. on an asset that is de-valuing faster than any other toy besides an Orange County Trophy Wife. Its sad to see and many sellers do not do there homework before listing there boat, after all, its not every week you sell a $350,000.00 boat.
OR
The seller has such a high note that they cannot afford to sell the boat. If you purchased a new TG TS in 2003 for $295,000.00 with a $15,000.00 Myco and put 10% down and paid only 5% in taxes (Yeah Right). And put 20% down carrying a note for the rest of your life on the remaining $260,400.00
The actual value of the boat compared to how much you owe will flip flop within 2-3 years. So many boats that sit, do so because someone bought too much boat and will most likely end there boat ownership by default.

From what I have seen, boat sales are up, people are buying bigger and more expensive boats this year than in the past 4 combined. Outerlimits and Cigarette are building larger more expensive boats and selling them to both dealers and private party around the world. So I would venture a guess that the new boat market is just fine!
IDRPSTF is offline  
Reply With Quote
Old 06-29-2004, 06:14 PM
  #12
Registered
 
IDRPSTF's Avatar
 
Join Date: Sep 2001
Location: In your driveway while you sleep
My Boats: Whatever you missed your payment on
Posts: 1,759
Default Re: Is Cigarette In Trouble?????

Tim,
Didn't mean to kick you, But you must admit it was kinda a funny comment.
I am sure you and I have run into many of the same "Buyers".
I have an extreme attitude problem when it comes to tire kickers (Thus the reason I don't sell boats for a living anymore). I only assist my friends with purchases and have yet to have anyone waste my time.
Good luck at National, They are a stellar company that has been nothing but professional and fair when I dealt with them in the past.
IDRPSTF is offline  
Reply With Quote
Old 06-29-2004, 06:49 PM
  #13
Registered
Platinum Member
 
Comanche3Six's Avatar
 
Join Date: Sep 2003
Posts: 9,273
Default Re: Is Cigarette In Trouble?????

Quote:
Originally Posted by IDRPSTF
The actual value of the boat compared to how much you owe will flip flop within 2-3 years. So many boats that sit, do so because someone bought too much boat and will most likely end there boat ownership by default.
That is a snug fitting straight jacket.
Comanche3Six is offline  
Reply With Quote
Old 06-29-2004, 07:37 PM
  #14
Registered
 
Join Date: Feb 2003
Location: Vice City & Tavernier, FL
My Boats: one ballsy Top Gun, a very fast Skater, one party Yellowfin....oh yeah, and two Boston Whalers
Posts: 5,851
Default Re: Is Cigarette In Trouble?????

If someone would only buy my Donzi, then I can get the Gun........
thedonz is offline  
Reply With Quote
Old 06-29-2004, 08:17 PM
  #15
Gold Member
Gold Member
 
Hydrocruiser's Avatar
 
Join Date: May 2004
Posts: 5,759
Arrow Re: Is Cigarette In Trouble?????

I have noticed in my shopping that there are fairly high inventories across the board in all types of boats from cruisers to powerboats. Like any industry it's hard to estimate consumer demand. Then trying to explain buying habits is also difficult as well. The "Consumer Confidence Index" is the highest it's been in 2 years. Those boats will have nice new homes soon! I think we are due for a turn around in spending.
Hydrocruiser is offline  
Reply With Quote
Old 06-29-2004, 09:24 PM
  #16
Member #154
Platinum Member
 
Indy's Avatar
 
Join Date: Oct 2000
Location: SW CT & Long Island Sound
My Boats: Missing my PowerPlay
Posts: 6,759
Default Re: Is Cigarette In Trouble?????

Quote:
Originally Posted by IDRPSTF
To address the original question, I think Cigarette is doing better today than they have in years. Most high performance boaters at the Miami show agreed that Cigarette stoled the show with new ideas, immaculate paint and best overall fit and finish. Skip has taken the company to the next level and the "New" prices reflect that.
Yes...and he's stayed away from that pathetic tit-for-tat "worlds fastest Vee bottom" race that Reggie and Fiore are engaged in. All the chest pounding both of them do makes them look silly. No matter who sets the record, Cigarette is still the boat.

Last edited by Indy; 06-29-2004 at 09:26 PM.
Indy is offline  
Reply With Quote
Old 06-29-2004, 10:00 PM
  #17
Gold Member
Gold Member
 
Hydrocruiser's Avatar
 
Join Date: May 2004
Posts: 5,759
Arrow Re: Is Cigarette In Trouble?????

Quote:
Originally Posted by Indy
Yes...and he's stayed away from that pathetic tit-for-tat "worlds fastest Vee bottom" race that Reggie and Fiore are engaged in. All the chest pounding both of them do makes them look silly. No matter who sets the record, Cigarette is still the boat.
Cigarette has always had the reputation as being the fastest offshore in rough water conditions. That's the gold standard for an offshore. Rough water speed capabilities. Isn't that why they are #1?
Hydrocruiser is offline  
Reply With Quote
Old 06-29-2004, 10:01 PM
  #18
Platinum Member
Platinum Member
 
CAP071's Avatar
 
Join Date: Jul 2001
Location: USA
Posts: 16,430
Default Re: Is Cigarette In Trouble?????

Maybe it' s this Booming Economy
CAP071 is offline  
Reply With Quote
Old 06-29-2004, 10:05 PM
  #19
GLH
Platinum Member
Platinum Member
 
GLH's Avatar
 
Join Date: Dec 2002
Location: Burlington, VT
My Boats: Azimut
Posts: 15,267
Default Re: Is Cigarette In Trouble?????

I won't worry until people at the gas station ask me "Is that one a them thar Outerlimits boat?"
GLH is offline  
Reply With Quote
Old 06-29-2004, 10:06 PM
  #20
Registered
 
boatme's Avatar
 
Join Date: Jan 2001
Location: Spring Lake, Michigan
My Boats: Sold the Cig
Posts: 4,026
Default Re: Is Cigarette In Trouble?????

GLH now that is a good one
boatme is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Joe
General Boating Discussion
263
09-05-2007 09:35 AM
OSO News
Offshoreonly Industry News
0
07-02-2007 12:23 PM
CIG3
Cigarette
18
08-22-2005 08:20 PM
IDRPSTF
General Boating Discussion
31
01-26-2004 09:43 PM
PhantomChaos
General Boating Discussion
7
11-28-2002 12:41 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 06:35 PM.


Copyright 2011 OffShoreOnly. All rights reserved.