Peters Opal stock of Demo's and PX boats.

[yelbis]

Peters Opal stock of Demo\'s and PX boats.

What is likely to happen to the used part exchange and demo yachts that are in stock at PO.
The buzzards circle over Chichester Yacht Basin, IMO a very sad situation for all involved, however the reality of the situation is fact not fiction.

 

[ThereAndBack]

Re: Peters Opal stock of Demo\'s and PX boats.

[ QUOTE ]
What is likely to happen to the used part exchange and demo yachts that are in stock at PO.
The buzzards circle over Chichester Yacht Basin, IMO a very sad situation for all involved, however the reality of the situation is fact not fiction.

[/ QUOTE ]

The demo yachts are unlikely to belong to Peters Opal. More likely part of a stocking-loan arrangement with the manufacturers or with the bank (which is likely to have a charge on them).

Anything that does belong to Peters will be sold off by the receiver (Insolvency Practitioner) to satisfy outstanding debts. The receiver has a legal obligation to get the best price possible, within a reasonable time-frame.

There may well be bargains to be had but, as you say, the vultures are circling.

All the above 'in my opinion', of course.

 

[phatcat1]

Re: Peters Opal stock of Demo\'s and PX boats.

Most of the yachts Peters has are on "agency" deals from the manufacturers, therefore only transfer from the manufacturer to the buyer, with peters taking a commission on sale completion. this is certanly the case with the demo boats. Which is why some demo boats are "owned" by people and used by the broker.

Just like alot of the floating boats at SIBS.

 

[bobgoode]

Re: Peters Opal stock of Demo\'s and PX boats.

Some of the Island Packets yachts for sale by Peters now have official notices indicating possession by the mortgage company.