I am glad to see some information coming to light on this matter. I had sailed on a used boat
in Charleston in June with the marketing
group of Antares
. Prepared to send them a $500k deposit for a June 17 delivery
for an owner looking to sell his position. Should have alerted me at that juncture that they did not offer any current
owners the option to move forward. Received notice a week after my return and a few days before sending them my deposit check of the financial difficulties. That was too close for comfort, but several folks were caught up in the turmoil and have done what was necessary to protect their interests. Glad to see that a good boat builder
has manged to work
through a difficult process.
I was invited to sail onboard a St. Francis 50 being delivered from South Africa
to the Annapolis
show and boarded her in St Lucia
up to the BVI's and then Georgetown
. Was planning to make an offer when my wife visited Annapolis
My wife was ok with the St. Francis and fully supporting my dream, although not 100% sure of this lifestyle. While negotiating with the owner of St. Francis during the opening days, my wife happened on board the newly launched Xquisite X5. She came and grabbed me and said " you have to see this boat". The couple, Sara and Ramas, have exclusive marketing
rights for the boat
manufactured in South Africa
by Phoenix Marine
(took over the assets of Dean Cats). They have brought on the Naval Architect from the former company to oversee the redesign and launch of this new product, Rudolf Jonker.
I had a LOI for Hull
#2 that was showing in Annapolis, when a nice couple from Florida
came on board and wondered if they could purchase
our position as they had a need for tax reasons to purchase
this year. We were happy to comply and took on Hull
3 which is scheduled to splash in February 2017. The Admiral (she hates that nickname, but hasn't come up with a better one) fell in love with Sara as much as the boat. These are the kind of people you want to be friends with. They have an interesting concept
for avoiding the kind of risk that i am extremely sensitive to regarding boat build progress payments. They have a financial backer that allows them to offer "in-house" financing
with a 5% deposit and payments into an independent escrow account until acceptance. That was a huge reason for me to get comfortable with this structure, given my near miss with Antares
They have sold
3 boats in 3 weeks, one at the Cannes boat show
and two last week in Annapolis. Hull 4 is sold
and I imagine they will have a backlog after the Miami
show in February.
I am not receiving any compensation or otherwise from these nice folks. Just wanted to share my experience over this 8 month journey.
Long time lurker, first time poster. Cheers, jc