cosmic12
Founding Member
http://cgi.ebay.com/ebaymotors/ws/e...140307326974&ssPageName=ADME:B:EF:MOTORS:1123 Anybody seen this or know this one?
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Gun on e-bay
- Thread starter cosmic12
- Start date
Seafordguy
Charter Member
Yes - that was the 100k TS thread over there......
JupiterSunsation
New member
Odd that Randy Sweers is ebaying the boat.........
Now this is the 2nd 38 TS TG listed for around 100K in the last month. 525 powered Gladiators selling for 110K, now relisted for 118K. Several members trying to buy but have found out the banks are not lending on performance boats. Phil is rebuilding old boats and selling them rather than building new. Dealers have new Cigarettes in inventory for years and still can't sell. Skippy refinanced the factory for 9.6mm in December up from about 1/2 that previously. Lower expected production, double the debt service for 09, hope he uses that capital wisely.........
I guess the legend is going to be in trouble for its 40th anniversary..........
Now this is the 2nd 38 TS TG listed for around 100K in the last month. 525 powered Gladiators selling for 110K, now relisted for 118K. Several members trying to buy but have found out the banks are not lending on performance boats. Phil is rebuilding old boats and selling them rather than building new. Dealers have new Cigarettes in inventory for years and still can't sell. Skippy refinanced the factory for 9.6mm in December up from about 1/2 that previously. Lower expected production, double the debt service for 09, hope he uses that capital wisely.........
I guess the legend is going to be in trouble for its 40th anniversary..........
Tank
Charter Member
Tough business to be in right now. I expect all boat companies will see serious trouble (some worse than others). Cig's been through it many times before and weathered worse.
And why do you say odd to see Randy Ebaying the boat....Buyers are rare, ebay's free advertsing and since Randy isn't with Nor-Tech anymore, I'm sure you'll see him pushing his used stuff a bit harder now.
JupiterSunsation
New member
Just seemed odd that he is listing it since he has never really pushed Cigs and has never been much of an ebayer of anything.
RLJ676
New member
So.....is that the market saying that is the value of this boat, or was it sold off ebay to avoid the charges....or was it not seen by enough people?
I guess that might actually be a $90K gun in reality these days?
Capital is cheaper than it was 2 years ago or even 6 months ago. You ever think that it's a good time to lock in long term rates on some permanent working capital? Plus with credit "tight" I doubt anyone would be loaning money if there wasn't sold primary and secondary sources of repayment.
SBA has waived it's guaranty fee saving 2.5% to the borrower and raised the guaranty to the lender to 90% (not that this is an SBA deal), just an example of what good borrowers have available that wasn't a few months ago.
JupiterSunsation
New member
VB you could be right but I would be very concerned about the monthly nut particularly when the working capital runs out. Also there have been no new projects lately that would draw in new buyers and production will be less than 40 boats this year to be distributed through 3 US dealers (4 if you count Phil). The capital was also raised using the factory as collateral, not a whole lot of wiggle room there if you default on the loan.........
PM203
Charter Member
How do you take a thread about an Ebay Cig and turn it into problems at Cig? Why do you feel it is neccessary to bring up these financial details on a thread about an Ebay Topgun? What gives?
JupiterSunsation
New member
Just another TG thread regarding 100K T/S TG's....see post 5. The Legend may be in trouble for its 40th birthday......
PM203
Charter Member
Yah, but so is everyone else inc Nortech, OL and Donzi. Whatever..................................
I've had just about enough of the 'sky is falling' crap. I come here to get away from the doom and gloom.
....and personally, I don't need the hearsay about Skip @ Cigarette's loans.
Think positive guys, at least we've got super low gas prices to celebrate about! Be sure I'm gonna burn my share this season in my old worthless Ciggie!:sifone:
Kurt
....and personally, I don't need the hearsay about Skip @ Cigarette's loans.
Think positive guys, at least we've got super low gas prices to celebrate about! Be sure I'm gonna burn my share this season in my old worthless Ciggie!:sifone:
Kurt
PM203
Charter Member
It seems that most threads involving Cigs and JS always end up with doom and gloom.
Expensive Date
New member
Fountain stock FPWB.PK up 140% in the last 5 days.......Its 12 cents now I almost bought some when it was 5 cents I wish I did now
Tommy Gun
Charter Member
Sea-Dated
Charter Member
One of the things I liked best about this site was all of the people who want a Cig for $10K stayed over at OSO. I guess that has changed and all the whiny biitches who think Cigs are overpriced but secretly want one so bad that they dream about it at night are finding there way over here.
Do us all a favor and take all this crap back over to OSO where it belongs and stay out of here with that crap. If you have something constructive to say then by all means we would love to have you but this part of the forum is for those who love Cigs and want to know about them. It is not for people like you who seem to make a hobby out of saying "Cigs are overpriced" on every forum they can find with hopes of getting the prices down to what they can afford.
Just my opinion and you caught me on a bad morning so stop it already. Do NOT start hijacking every thread in this section with your "It it priced too high" chit.
:banghead::banghead::banghead:
Sea-Dated
Charter Member
Yup, he has made a hobby out of bashing Cig. My guess is because he wants one bad he jerks off thinking about Cigs but can't get one.
Just a guess......
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