So whats up at Sunseeker

Who, me? Naaah...
I didn't even post a link to an extremely interesting thread on a US forum with u/w pics of a sunk boat, fearing that w34 might have paid a deposit also on one of those! :)
Coming to think of it, weird how nobody mentioned that yet around here... Or did I miss it?
 
Just wrote a long reply asking about the pros and cons of buying used vs new boats in the larger sizes of vessel (eg over perhaps 50' or 60' long) and I got logged out..... fine, no worries, log back in - but it said the server was busy or something - tried again, worked, but my reply was lost.... and I hadn't highlighted and copied it as a precaution beforehand.... :(
Oh well, such is life!

If you were looking at buying a (say) 70' motor yacht from any reputable builder (not just Sunseeker) would you be happy to buy one second hand, say a few years old, for probably significantly less than the cost of a new boat, and then perhaps spend some of the savings on a re-fit to customise the vessel towards what you would have specified if you had ordered a new vessel?
I was thinking that if Westie is worried about possible risks in buying a new boat, then this could be a possible option?

Lots of second hand Sunseekers for sale here - http://www.sunseekerbrokerage.com/brokerage-boats/

A question for jfm, is this what you did with your previous Fairline (re buying it second hand), and then you used the experience gained with her to establish a custom specification for the new vessel?
 
JFM, on iPod so can't search but did you say somewhere above that EJ's deposit might help? The topic of 'ring fenced' client accounts has been well discussed on here before but one by-product of this ring fencing is surely reduced liquidity?

Pete
 
i think the SS rumours are being blown out of proportion.
I am on my 3rd SS and have a 115P on order for 2012 del. (deposit paid)
that means i have a significant interest/stake in the way things turn out.

nevertheless one needs to always protect ones investments(deposit).
i am sure most have done so accordingly and therefore should have no cause to worry.
Bigmoose
 
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petem said:
JFM, on iPod so can't search but did you say somewhere above that EJ's deposit might help? The topic of 'ring fenced' client accounts has been well discussed on here before but one by-product of this ring fencing is surely reduced liquidity?

Pete
Click to expand...

Generally no Pete. The only time a ring fenced deposit reduces (or doesn't increase) builder's liquidity is if the builder is required not to access the cash at all. Eg, he is required to keep the cash in an account and not draw on it to pay for the boat build. But no builder in his right mind would agree to such a term, and any customer asking for a boat on those terms would be being unreasonable. I can't beleive s/s is building a 50m for EJ on terms like that - neither side to the transaction would be that barmy.

If a deposit is somehow secured, eg a bank guarantee, or customer getting title to or security over the partial-boat once the keel is laid (all perfectly possible), there is generally no restriction on the builder's ability to use the deposit/stage payments to pay for the boatbuild and general overheads, and therefore the deposit does increase liquidity
 
bigmoose said:
i think the SS rumours are being blown out of proportion.
Click to expand...

Hiya Bigmoose. Yes indeed - internet eh? Ever get that feeling you wish you'd never gone there? The question was, why the board changes at s/s? And I answered including a reference to a PAST liquidity concern, and went on to emphasise it was in the PAST, and that I categorically wasn't saying there are any liquidity issues NOW, and that I hadn't said there was a bankruptcy situation etc. And yet, people STILL think I'm saying s/s are somehow going bust. They're not!!

Toe stubbing incidents like liquidity sqeezes and board changes are just part of the rough and tumble of a business especially in this sector and this market, with multiple financing parties. Yes it is important not to blow it out of proportion. Indeed, Ferretti is a much more interesting case study than S/seeker, from the point of view of financials, restructuring, massive board changes to replace the CEO, etc. (But let's not go there today!)

Congrats on 115P! Gold paint? :-)
 
Deleted User said:
Yeah, I agree with that. AFAIK Sunseeker Sales is actually owned by their German dealer and Sunseeker London is the phoenix which rose from the ashes of David Lewis Yachts going belly up. Doesn't fill you with confidence if you've got a big deposit to pay.
Click to expand...

Please note David Lewis Yachts is still trading and did not go belly up. Lewis Marine maybe.
 
What a hilarious thread - Troll of the year award contender

westie34 said:
... pompous, self important twits ... {snip} ... I am, as a loyal British citizen doing my best for Britain.
Click to expand...

Hope you've got "Land of Hope and Glory" on your iPod. Jeepers SS is just a corporate entity, it's not a living breathing life form, just a business in a globalised market with transnational equity. Corporations know nothing of nationality nowadays, just bottom line and balance sheet. Like Range Rover were german and now indian.

This post has nearly been as funny to read as a good episode of Fawlty Towers, when Basil was at his British best! ;)
Don't mention ze var

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PS: Best wishes and best of luck with your new boat. Hope you have much cruising enjoyment on board and many cruising adventures as you explore the seas.
 
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