Magic powerboats

[Hardly Satisfied]

I heard that the bank repossessed everything from magic. Has anybody heard this

 

[OutCole'd]

Again??

 

[RiverDave]

You heard correct.. They went in and took everything that wasn't bolted down. Word on the street is Tony Poore got another guy for 100k... They sprayed the gel in the mold of his new build but never put any glass, stringers in the boat so they can't pull the boat out.. So that's junk. How this guy isn't in jail is beyond me.

RD

 

[hallett21]

Are we taking the repossession that happened years ago or is this a recent repo from new owners?

 

[RitcheyRch]

That sucks and he should be in jail. Will most likely drag out in court for awhile and still not get any return.

You heard correct.. They went in and took everything that wasn't bolted down. Word on the street is Tony Poore got another guy for 100k... They sprayed the gel in the mold of his new build but never put any glass, stringers in the boat so they can't pull the boat out.. So that's junk. How this guy isn't in jail is beyond me.

RD

 

[Groper]

umm :headscratch: giving Tony a $100k up front :yikes really ?

 

[milkmoney]

Wow lol. This shit will never end.

 

[ChevelleSB406]

You heard correct.. They went in and took everything that wasn't bolted down. Word on the street is Tony Poore got another guy for 100k... They sprayed the gel in the mold of his new build but never put any glass, stringers in the boat so they can't pull the boat out.. So that's junk. How this guy isn't in jail is beyond me.

RD

I was always curious as to how new boats were coming out after the fiasco from the last go around, I see the appeal of getting a new magic, but I could only ever trust handing my money over to a handful of boat companies for a build, magic is definitely not on that list. Bummer for the latest guy that got scammed.

 

[Advantage 1]

umm :headscratch: giving Tony a $100k up front :yikes really ?

^^^^ This. That is terrible.

 

[JB in so cal]

If Magic had a chance at a comeback, the odds just got overwhelmingly long:thumbsdown

You can always buy used:rolleyes

 

[Buoy]

They sprayed the gel in the mold of his new build but never put any glass, stringers in the boat so they can't pull the boat out.. So that's junk. How this guy isn't in jail is beyond me.

RD

So, is the mold also trashed? Or can it be cleaned/stripped?

 

[Abc123]

umm :headscratch: giving Tony a $100k up front :yikes really ?

You can't fix stupid.

 

[Singleton]

Let me count those current manufactures I would trust to build me a new boat.

Just counted and if I use a west coast mfg I needed less than 1 hand. Add east coast and maybe I get to 10.

 

[ChevelleSB406]

Let me count those current manufactures I would trust to build me a new boat.

Just counted and if I use a west coast mfg I needed less than 1 hand. Add east coast and maybe I get to 10.

agreed.

 

[Blackhawk15]

I know the first time they went under there were a bunch of hulls that were for sale without motors. I had also heard that there was issues with cracking. Being that I have family in the market for a deck boat, should i not even consider a Magic?

 

[JB in so cal]

I know the first time they went under there were a bunch of hulls that were for sale without motors. I had also heard that there was issues with cracking. Being that I have family in the market for a deck boat, should i not even consider a Magic?

Anything built prior to say, '07 or so is no problem. A friend of mine has a very clean '05 with about 280 hours. Spotless and never had an issue.

Same with my '05. Never had an issue with either the motor or the hull. K

 

[Blackhawk15]

Anything built prior to say, '07 or so is no problem. A friend of mine has a very clean '05 with about 280 hours. Spotless and never had an issue.

Same with my '05. Never had an issue with either the motor or the hull. K

Thanks for the info. That's all i needed to know.

 

[Riverson]

I know the first time they went under there were a bunch of hulls that were for sale without motors. I had also heard that there was issues with cracking. Being that I have family in the market for a deck boat, should i not even consider a Magic?

Picked up my Deck Aug.2007. Just a couple months before the shut down. I love my deck and haven't had any major issues. 1 and only issue was the automatic led light, motor went out and they don't make them anymore. Besides regular service and detail that's it. I wouldn't think twice about used one if I was back in the market.

 

[JB in so cal]

Picked up my Deck Aug.2007. Just a couple months before the shut down. I love my deck and haven't had any major issues. 1 and only issue was the automatic led light, motor went out and they don't make them anymore. Besides regular service and detail that's it. I wouldn't think twice about used one if I was back in the market.

I almost wrote this exactly as you did. Damn lights!

 

[pronstar]

Haven't "more than a few" boat builders wound up dead/missing over the years?
If they did business like this guy, then it's all starting to make sense...

 

[454Rocket]

Haven't "more than a few" boat builders wound up dead/missing over the years?
If they did business like this guy, then it's all starting to make sense...

No, it was all the blow...

 

[wishiknew]

Let me count those current manufactures I would trust to build me a new boat.

Just counted and if I use a west coast mfg I needed less than 1 hand. Add east coast and maybe I get to 10.

Conquest and Cheetah Not going anywhere

 

[cflores3]

no ones is there, or answers the phone, website is down
now what?

 

[RiverDave]

no ones is there, or answers the phone, website is down
now what?

Now Teague has to figure out what to do with the molds he got and the bank has to figure out what to do with the molds they night and someone else will step up and try it again.

 

[allblowdup]

Now Teague has to figure out what to do with the molds he got and the bank has to figure out what to do with the molds they night and someone else will step up and try it again.

So why has everyone who has tried with Magic failed? Is it the blow or bad business people or just hard to sell that product? I have an 08 28 deck built by by And completed by Magic and I have no issues. Seems like a good boat. They look good and seem to perform well at a decent price.

 

[Sbarry]

Are you all drunk or is this some kind of crazy double talk that's over my head?

 

[RiverDave]

So why has everyone who has tried with Magic failed? Is it the blow or bad business people or just hard to sell that product? I have an 08 28 deck built by by And completed by Magic and I have no issues. Seems like a good boat. They look good and seem to perform well at a decent price.

Just horrible business people.. They are always underfunded and believe in the schindlers list style of doing biz.. Act way bigger then they are, blow the entire nut opening and running facilities that would require 200+ boats a year to operate etc..

Nobody seems to believe in the start small and build it up mentality..

Shit they were giving away 20,000'ish dollar mini boats away at their regatta not that long ago! Is it really hard to see why they ran out of dough?

 

[RiverDave]

Are you all drunk or is this some kind of crazy double talk that's over my head?

What part do you not get exactly?

 

[Outdrive1]

Now Teague has to figure out what to do with the molds he got and the bank has to figure out what to do with the molds they night and someone else will step up and try it again.

T C M. Teague Custom Magic.

 

[RiverDave]

T C M. Teague Custom Magic.

Pretty sure he doesn't want to get in the boat building biz.. I am assuming he would rather off the molds to a buyer. For right now they sit. Just like the bank molds.

I'm talking to Lee about getting him in touch with the bank to discuss their deck mold. Schiada has been looking for a deckboat.. With some changes, and turn it into a Schiada that could be a winner.. And I know the perfect guy with a family that could campaign it for them.

 

[Sbarry]

What part do you not get exactly?

I get the shady Magic part, makes perfect sense. But how did Teague get wrapped up into this? He bought their old hulls? I just didn't know about that. Sad deal all around hear about people getting taken...

 

[Outdrive1]

When Moyes owned it, he was selling 300 plus boats a year. Building trailers and almost everything in house. When the economy tanked. He had built a bunch of stock boats according to previous years projections. Those were floored. When you have to pay the nut on 100 floored boats, rent on multiple locations, and salaries for 100 employees and you don't sell any boats, it doesn't take long to run out of money. It's not that hard to understand.

 

[tb230razor]

Let me count those current manufactures I would trust to build me a new boat.

Just counted and if I use a west coast mfg I needed less than 1 hand. Add east coast and maybe I get to 10.

Why? What boat do you have? Just curious....

 

[JB in so cal]

T C M. Teague Custom Magic.

So, is Teague now involved with Magic? :eek

 

[RiverDave]

Teague is a much larger engine mfg then most people know. He will (or used too anyways) floor turn key engines at boat Mfg's so they were ready to install. I don't know the ins and outs of it, but from what I hear Tony got into him for a shit pile of money on engines and drives.. Teague is smart and saw the writing on the wall, so he drove down their and loaded up the deck boat molds (not sire which series) to at least partially recover the debt. Someone will pay Teague for the mold and he will either get a little love on each boat or start supplying power to them etc.. He will be made whole in one way or another. Guy is pretty smart.

 

[RiverDave]

So, is Teague now involved with Magic? :eek

Not just no.. But hell no. Lol

 

[Cole Trickle]

When Moyes owned it, he was selling 300 plus boats a year. Building trailers and almost everything in house. When the economy tanked. He had built a bunch of stock boats according to previous years projections. Those were floored. When you have to pay the nut on 100 floored boats, rent on multiple locations, and salaries for 100 employees and you don't sell any boats, it doesn't take long to run out of money. It's not that hard to understand.

I don't know if it went quite like that. Didn't they have funding for flooring completed boats that weren't actually complete?

 

[Sbarry]

Teague is a much larger engine mfg then most people know. He will (or used too anyways) floor turn key engines at boat Mfg's so they were ready to install. I don't know the ins and outs of it, but from what I hear Tony got into him for a shit pile of money on engines and drives.. Teague is smart and saw the writing on the wall, so he drove down their and loaded up the deck boat molds (not sire which series) to at least partially recover the debt. Someone will pay Teague for the mold and he will either get a little love on each boat or start supplying power to them etc.. He will be made whole in one way or another. Guy is pretty smart.

Dang! Pretty smart is an understatement. That's pretty awesome really! Thanks

 

[Outdrive1]

I don't know if it went quite like that. Didn't they have funding for flooring completed boats that weren't actually complete?

Yikes. I don't know. How many boats ended up al LBYS? Some actually existed.

 

[fmo24]

Completed is a relative term in this case. Most of the boats at LBYS were less engine and drive.

 

[Bobby V]

Yikes. I don't know. How many boats ended up al LBYS? Some actually existed.

I went down to LBYS when the Magic boats were coming in from Havasu. Not to many were completed. Most were missing motors, wheels on trailers, stereos etc.

 

[Singleton]

Why? What boat do you have? Just curious....

I have a 2007 Ultra 26 Shadow deck. Was at the Ultra shop weekly when building it new.

 

[Wmc]

05 no complaints here.

 

[Patyacht]

When Moyes owned it, he was selling 300 plus boats a year. Building trailers and almost everything in house. When the economy tanked. He had built a bunch of stock boats according to previous years projections. Those were floored. When you have to pay the nut on 100 floored boats, rent on multiple locations, and salaries for 100 employees and you don't sell any boats, it doesn't take long to run out of money. It's not that hard to understand.

Magic's business model called for having lots of boats built so a customer could add power/options so most customers could get into a boat faster than building. Although you could special order if you wanted. Their boats were floored by Key Bank. When the bottom fell out, Key Bank closed their entire Marine Division and cancelled all flooring. They F'd lots of Manufactures and boat sale places/brokerages. If you were a Marine Division Finance person you got laid off. Lot's of businesses and people got screwed by Key Bank. So Magic's options were to find another flooring company, buy all the boats they had floored or closed their door. All the other flooring companies also stopped flooring at that time also. So they took the only smart option - close the doors and sue Key Bank. Don't know where the suit stands.

 

[Member: 71]

no ones is there, or answers the phone, website is down
now what?

website is up..
http://www.magicpowerboats.com/49.html

Best of luck....

 

[Groper]

Pretty sure he doesn't want to get in the boat building biz.. I am assuming he would rather off the molds to a buyer. For right now they sit. Just like the bank molds.

I'm talking to Lee about getting him in touch with the bank to discuss their deck mold. Schiada has been looking for a deckboat.. With some changes, and turn it into a Schiada that could be a winner.. And I know the perfect guy with a family that could campaign it for them.

It will be interesting to see where these molds end up, with the proven Talon Bottom (Magic & Conquest along with who ever might have splashed the bottom) will end up with a great Boat. Stay tuned

 

[r1ver_rat]

It sickens me to read this post. I lost over 20k on a boat I purchased from Wayne King of Hawaiian Powerboats. Took almost three years and received half a boat with a used drive and motor from Eliminator. Tried to sue, but I couldn't do anything. Seems for some reason, boat builders are protected more than other types of businesses. Also after more research learned that Wayne screwed many people and had all his assets under family members names. Makes me so angry.

 

[Hardly Satisfied]

It sickens me to read this post. I lost over 20k on a boat I purchased from Wayne King of Hawaiian Powerboats. Took almost three years and received half a boat with a used drive and motor from Eliminator. Tried to sue, but I couldn't do anything. Seems for some reason, boat builders are protected more than other types of businesses. Also after more research learned that Wayne screwed many people and had all his assets under family members names. Makes me so angry.

Tony has done the same to a few people also.He needs to spend some time in jail

 

[DLC]

bump !!

 

[JFMFG]

bump !!

What we bumpin? Doesn’t horizon have the molds and if you want one you have to contact them? I think they’ve build at least a handful now?