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Boat Dealers - what's the word on the street?

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Post Options Post Options   Likes (0) Likes(0)   Quote Bounty Hunter Quote  Post ReplyReply Direct Link To This Post Topic: Boat Dealers - what's the word on the street?
    Posted: 06 Mar 2024 at 8:37pm
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Titanium
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News the other day that Trev Terry Marine has the Receivers in so must be walking a very tight rope at the moment.

I drive by Kev & Ians on Druces Rd - the boats are almost all gone and signage pulled down.

Fish City Hamilton - for sale and asking not a lot...

BlackDog - recently kaput

What is going on out there?
No disintegrations!
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Post Options Post Options   Likes (0) Likes(0)   Quote MB Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 8:40pm
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Don't know, but it was getting silly in the COVID times. Guess there has to be some readjustment, but it seems to have gone too far the other way. 
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Post Options Post Options   Likes (0) Likes(0)   Quote Kevin.S Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 8:53pm
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Lots of people are struggling for cash, and a new boat is pretty near the top of the list for expenses to cut out if looking for savings.
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Post Options Post Options   Likes (0) Likes(0)   Quote Keith C Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 8:58pm
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And in speaking to a North Island dealer last week, he wasn't taking any trade-ins on a new boat because "things are moving too slowly".
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Post Options Post Options   Likes (0) Likes(0)   Quote Fish Addict Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 9:17pm
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Much the same happening over my way.  Both manufacturers and dealers closing down.  They certainly fleeced us during Covid though.
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Post Options Post Options   Likes (1) Likes(1)   Quote Kandrew Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 9:19pm
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Only got themselves to blame look at the price of new boats $40k for a 4mtr tinny, just ridiculous and as for those FC boats. They must be gold plated.
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Post Options Post Options   Likes (0) Likes(0)   Quote MB Quote  Post ReplyReply Direct Link To This Post Posted: 06 Mar 2024 at 10:53pm
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Titanium
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Originally posted by Kandrew Kandrew wrote:

Only got themselves to blame look at the price of new boats $40k for a 4mtr tinny, just ridiculous and as for those FC boats. They must be gold plated.

I bought my FC 560 CC at the height of crazy. Actually, we hadn't reach peak boat at that point, I appeared to have *made* $15K on my purchase two years ago LOL 

I will say they are well planned and executed boats and when I was comparing costs with other brands at the time and they were't too far off. Accessories and pimping up put the price up significantly though. 

As for crazy money for 4m tinnies, have you seem that 4 - 4.5m tiller steer pontoon boats have taken the world of social media by storm. I'm guessing that has for something to do with. Even tempted myself!
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Post Options Post Options   Likes (0) Likes(0)   Quote Pcj Quote  Post ReplyReply Direct Link To This Post Posted: 07 Mar 2024 at 12:23am
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Just look at outboard prices. To replace my 90hp is somewhere north of $17k  Yet the Chineese copy of a yamaha"parsun $9k 
3yr warrenty etc  Seem to be selling ok. 

When we were looking at boats,looked at Trev Terry,saw a nice sea nymph wasp $14k asked about engine hrs and got told.Thats imaterial we offer 3 months warrenty. Didnt buy but noticed it sat along with others over 12 months.
"Times up"
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Post Options Post Options   Likes (0) Likes(0)   Quote lawabidingpoacher Quote  Post ReplyReply Direct Link To This Post Posted: 07 Mar 2024 at 6:07am
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People are there own worst enemy . If keep buying at inflated prices why would anyone want to sell for less . It's the same for some utes and 4 X 4 s. Absolutely crazy..
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Post Options Post Options   Likes (0) Likes(0)   Quote pompey Quote  Post ReplyReply Direct Link To This Post Posted: 07 Mar 2024 at 7:48am
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I just bought a boat. It was via a dealer, sale on behalf.
Owner told me, they can't sell boats at the moment.
There are a lot of boats for sale, private sellers are dreaming with their asking prices generally. Dealers are much sharper, they know where the market is. With winter coming it will get worse. I should probably have waited to buy but want to go fishing.
Kev and Ian's have gone, their parts business is still going.
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Post Options Post Options   Likes (0) Likes(0)   Quote Pcj Quote  Post ReplyReply Direct Link To This Post Posted: 07 Mar 2024 at 1:18pm
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Nephew lives Auckland,went to dealer in Pakuranga area looking for a particular model and was given a price. Rings a different branch of the company in Wellington.Places order and transported Auckland saving $4k how can that happen ,spec same of AK base

Warrenty/service no issues they sent him to a company out back of pukekohe
"Times up"
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Post Options Post Options   Likes (1) Likes(1)   Quote lawabidingpoacher Quote  Post ReplyReply Direct Link To This Post Posted: 07 Mar 2024 at 8:06pm
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ALLWAYS pays to shop around ! Get a lot of fishing in with 4k . 👍
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Post Options Post Options   Likes (0) Likes(0)   Quote Coutta Quote  Post ReplyReply Direct Link To This Post Posted: 09 Mar 2024 at 10:31am
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As MB has said the FCs are pretty good value compaired with some other brands. I paid 40K for my 535 CC four years ago. They punch well above their weight and its the best boat I've owned and theres been quite a few. I won't list the other brands I've owned as I've no wish to get into any arguments. If I do sell it though I'll be well on the right side of the ledger.
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Post Options Post Options   Likes (0) Likes(0)   Quote Mike Parker Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jul 2024 at 4:21pm
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Good Afternoon All,

Kev and Ian's Marine is still around!!!!!!!

Kev and Ian's Marine recently decided to step back from boat sales and invest in other sectors of the marine industry.

Check out boatdek.co.nz

Kev and Ian's Marine specialize Outboard and Sterndrive Sales and Service. Mercury Premier Service Centre, specializing in Mercury & Evinrude E-Tec outboards, injector servicing, EMM programming.  Based in Manukau.

Kev and Ians is here to stay.

Mike Parker

Service Manager.
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Post Options Post Options   Likes (0) Likes(0)   Quote Kandrew Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jul 2024 at 8:37pm
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Titanium
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There’s been a few gone through
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Post Options Post Options   Likes (0) Likes(0)   Quote Keith C Quote  Post ReplyReply Direct Link To This Post Posted: 05 Sep 2024 at 7:06am
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See Sportcraft Maine in Morrinsville and Mt Maunganui gone too after IRD applied for receivership.
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Post Options Post Options   Likes (0) Likes(0)   Quote Pcj Quote  Post ReplyReply Direct Link To This Post Posted: 05 Sep 2024 at 10:53am
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www.nzherald.co.nz/bay-of-plenty-times/news/tauranga-morrinsville-boating-businesses-sportcraft-marine-and-sportcraft-boats-in-liquidation


Two boating businesses in Mount Maunganui and Morrinsville have been placed into liquidation owing more than $1.5 million in unpaid taxes and loans.

Wendy Somerville and Malcolm Hollis, from PricewaterhouseCoopers (PwC),


"Times up"
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Post Options Post Options   Likes (0) Likes(0)   Quote Kevin.S Quote  Post ReplyReply Direct Link To This Post Posted: 05 Sep 2024 at 1:54pm
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Titanium
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According to some reports the IRD are getting quite keen on putting businesses into liquidation for unpaid taxes.  Being a preferred creditor that probably works in their favour, but not necessarily so much for other creditors or the business.  Times are tough though, and boats are very much a discretionary expense.
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Post Options Post Options   Likes (0) Likes(0)   Quote Alan L Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 8:24am
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Titanium
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The IRD are changing their stance on being lenient with slow payers. Over Covid they backed off. Now they are under instruction to tighten up. Whenever you see companies go under, there is always a lot of unpaid tax. GST, prov tax, PAYE etc. That means they are being subsidised by tax payers, and they have been trading at an unfair advantage compared to competitors who are paying the due taxes. There is a change in the wind. Construction companies, among others,  are in their sights.
But yes, the pendulum has defintely swung as far as the boating scene, and any discretionary spending goes. Had to happen. Was largely funded on borrowed money.
Alan
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Post Options Post Options   Likes (0) Likes(0)   Quote Pcj Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 9:29am
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Titanium
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Exactly Alan.2 major Ali boats this time last yr were under 95k now 110k both 5.8m

As far as taxes go .1.5 mill is a lot of outstanding tax though.

Trev Terry owed creditors 16 mill.

Who can afford to find companies with that sort debt outstanding?
"Times up"
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