Thread:

Magic, The Real Deal, Updated Statement From Lbys

Thank you all for your patience in this unfortunate situation with Power Marine, Magic and Sleekcraft.

The facts are:

Long Beach Yacht Sales is the agent for the court appointed receiver.

Long Beach Yacht Sales is waiting for a final and accurate count of inventory, including completed, stage 3 (show rig) and hull/deck assembled units.

Vessels will be sold with M.S.O.'s (Manufacturer's Statement of Origin) and existing stamped HIN# without changes. While the Magic website may have referenced boats as 2009 models, the units will be sold as they are stamped on hull. Trailers will also have M.S.O.'s

Rumor Control:

Nordic has NOT made an offer on the company. They graciously provided us assistance in moving the units from the sales facility in Havasu.

Long Beach Yacht Sales is responsible for remarketing all of the assets of Power Marine, including tooling, boats, trailers, accessories, engines, parts etc.

It is our intention to sell the company to an entity that will continue the Magic/Sleek product line. We have no intention at this time to "part out" the tooling, eqipment, etc at the factory.

As of April 14th, 10:30 am, we are waiting for pricing from the receiver on Stage 3 packages to begin with and hopefully, pricing on the used and completed boats as well.

Used inventory and trade ins are being title verified at this time to confirm clear title.

We have had discussions and made arrangements with the following companies to sell and install engines.

Teague Custom Marine
Paul Pfaff
Nordic Boats
Advantage Boats

They will be selling the buyer their engine package of choice at very favorable pricing.

Once we have pricing from the receivor, we will post this information as soon as possible and repond to current bids.

At this time, we will be leaving about 100 units in Havasu at the factory and delivering units located there from sales done here at Long Beach Yacht Sales.

We will also be at the Thursday Night Street Party at Desert Storm with a 28' Deckboat.

Financing is available (on approved credit). We will work with buyers to help them finance their motor packages if needed as well. Long Beach Yacht Sales is a licensed DMV agent and will handle registrations for customers as the boats are sold.

Please visit our website as we update the information as we receive it.

www.lbys.com

Thank you again for your understanding regarding the situation.

Thanks for the up-date info. Answers alot of questions.

Very nice, thank you for the post.

YAH what he said

Originally Posted by 2FORCEFULL

so then the rumor that they(key) only gave 20k each to magic is true???

and also the rumor that this is a retail sale and not a repo sale is also true???

and the rumor that LBYS says they are worth over 100k w/496ho power??? true??

might as well get it all out there....

Well LBYS we are waiting to hear

Originally Posted by 2FORCEFULL

and one last thing... isn't there strick guidelines to having repo sales in california??

YAH What he said


My new quote of the day

Damn you guys are brutal...
If you want one just put an offer down. The market will dictate what happens next...

Originally Posted by 2FORCEFULL

so then the rumor that they(key) only gave 20k each to magic is true???

and also the rumor that this is a retail sale and not a repo sale is also true???

and the rumor that LBYS says they are worth over 100k w/496ho power??? true??

might as well get it all out there....

Anything beyond what our statement has said at this point should be considered a rumor. We will continually update as we have more information available. In the nicest way possible, we are super busy so we will not be able to respond to questions in this forum as fast as some of you might like. As we've stated, we appreciate your understanding.

Originally Posted by 454Rocket

Damn you guys are brutal...
If you want one just put an offer down. The market will dictate what happens next...

Yes they are. I'm guessing that LBYS just told us all he's knows at this time.

Originally Posted by WATERDOG

Yes they are. I'm guessing that LBYS just told us all he's knows at this time.

Absolutely correct. You know what we know.

Couple more answers. The boats do not have to be sold complete. You can buy a boat with no engine. We are just trying to offer options for people that need financing for complete packages.

The boats are not listed under a "repo" section. We are listing them on our website under their own link on the left of the home page called Magic/sleekcraft.

We have no answers on molds, particularly H Model.

We really are giving you what we know right now.