What's the story on Navigator Yachts?

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mbevins said:
Can never see why you buy an operating company and then kill it. Competition aside. It's been two years and no resurrection so why do it.
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Sometimes they have plans but are way over their heads. Other times, it's just an ego purchase. It's generally not for much money and they have a brand and some molds. Makes no sense to those of us who buy to operate companies and not to kill the brand.
 
BandB said:
Sometimes they have plans but are way over their heads. Other times, it's just an ego purchase. It's generally not for much money and they have a brand and some molds. Makes no sense to those of us who buy to operate companies and not to kill the brand.
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I agree. When I buy a company I plan on operating and growing it. Which begs the question, how much did they pay for Marshall's company and who were they. We'll probably never know.
 
There seems to be a relationship with Northwest Specialty Hardware in Clackamas, Oregon, which seems to be operated and/or owned by Xia Wang. The Entity "Navigator Yachts and Products, Inc. is still active but with the Oregon address of NW Specialty Hardware. I know nothing beyond that. Just working from public records.

I suspect very very little was paid. Maybe six figures, definitely not seven.
 
After reading this statement, I'd have absolutely nothing to do with this company, assuming its still solvent.


"The new owners have opted not to release their identity to the public at this time, Cogliati told Trade Only this morning."
 
roguewave said:
After reading this statement, I'd have absolutely nothing to do with this company, assuming its still solvent.

"The new owners have opted not to release their identity to the public at this time, Cogliati told Trade Only this morning."
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At this time the point is rather moot. For all practical purposes people should be treating this boat manufacturer like other ones ones that have gone out of business. The boats are orphaned and should be judged by the quality of build at the time and not the fact that the company no longer exists.
 
I said the company, not the boats.
 
mbevins said:
Can never see why you buy an operating company and then kill it. Competition aside. It's been two years and no resurrection so why do it.
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Oftentimes, companies are worth more dead the alive, but the owners persist in operating at a loss and marketing as a going concern until the price is so low / or they are so financially strapped, that "private equity" acquires and sells the assets at a substantial profit. For example, Navigator's facility in Perris Valley may be (or, rather, may have been) worth a ton of money.
 
MYTraveler said:
Oftentimes, companies are worth more dead the alive, but the owners persist in operating at a loss and marketing as a going concern until the price is so low / or they are so financially strapped, that "private equity" acquires and sells the assets at a substantial profit. For example, Navigator's facility in Perris Valley may be (or, rather, may have been) worth a ton of money.
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There are many reasons. One that I've seen several times, especially on larger boats, is someone buys the builder just to get their boat completed. Picture this common scenario. You have a boat being built. You've paid $1.5 million of the $2 million purchase price, but it's time to install the engines and the builder doesn't have the money to purchase them or to pay workers to continue. The two options are

1-Builder closes, declares bankruptcy. Eventually you may get your partially built boat and spend another $1.5 million finishing it.

2-You buy the builder, let them off the hook for your boat. You pay the employees to finish your boat, buy the engines, spend a total of $750k and now have your boat and own the company.
 
BandB said:
There are many reasons. One that I've seen several times, especially on larger boats, is someone buys the builder just to get their boat completed. Picture this common scenario. You have a boat being built. You've paid $1.5 million of the $2 million purchase price, but it's time to install the engines and the builder doesn't have the money to purchase them or to pay workers to continue. The two options are

1-Builder closes, declares bankruptcy. Eventually you may get your partially built boat and spend another $1.5 million finishing it.

2-You buy the builder, let them off the hook for your boat. You pay the employees to finish your boat, buy the engines, spend a total of $750k and now have your boat and own the company.
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Wow, now THAT is an interesting theory. Never would have seen it from that direction.

For no other reason, there is THIS video on YouTube of the closed factory:

 
Buying the builder before or after bankruptcy to save a boat being built is not unusual. I had a listing on a boat built By Greenbay Marine in Singapore. The owner, Roger Liang, of Greenbay, had purchased Baglietto Yachts in Italy when they went under so he could finish his own boat under construction.
Sovereign Yachts of British Columbia went out of business while Don Davis was building a yacht for himself at that yard. He renamed the yard as Richmond Yachts.
 
W. D. Schock, a sailboat builder, appears to have taken over the space.
 
yachtbrokerguy said:
Buying the builder before or after bankruptcy to save a boat being built is not unusual. I had a listing on a boat built By Greenbay Marine in Singapore. The owner, Roger Liang, of Greenbay, had purchased Baglietto Yachts in Italy when they went under so he could finish his own boat under construction.
Sovereign Yachts of British Columbia went out of business while Don Davis was building a yacht for himself at that yard. He renamed the yard as Richmond Yachts.
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Wow that would suck. Spend a couple mil on a boat and they file for bankruptcy.......Bad news if you already put money down......:nonono:
 
Sorry! Felt the need to share some pictures! Our Navigator!
 

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Besslb said:
Sorry! Felt the need to share some pictures! Our Navigator!
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I'm so glad you didn't post pics of your beautiful Navigator on plane. That would just piss off the rest of us slowboaters. :flowers::banghead:
 
Thanks to everyone for their feedback and comments in this thread. I'm under contract on a 53 Navigator Classic and will close Monday!
 
YAY!... Another Gator owner.
 
Tom.B said:
YAY!... Another Gator owner.
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Yep, and very excited about it.

The layout is just fantastic. I had been looking at trawlers, but there's nothing out there with a layout as functional as the Navigator Classics.

I hope she's everything you promised she would be!
 
What year model? Yachtworld link?
 
KalaKai said:
Yep, and very excited about it.

The layout is just fantastic. I had been looking at trawlers, but there's nothing out there with a layout as functional as the Navigator Classics.

I hope she's everything you promised she would be!
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CONGRATS!! Hope you love yours and much as we do ours! I am having a little cockpit envy! :rolleyes::D
 
Besslb said:
CONGRATS!! Hope you love yours and much as we do ours! I am having a little cockpit envy! :rolleyes::D
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Flybridge envy for me. Nice boat.

First order of business is redesign your DC power system. Swap out those 8Ds for a bank or two of golf cart batteries :hide: :rofl:
 
Tom.B said:
Flybridge envy for me. Nice boat.

First order of business is redesign your DC power system.:
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I saw you mentioned that earlier. Can you give me any more info on the problems and your proposed resolution?
 
KalaKai said:
I saw you mentioned that earlier. Can you give me any more info on the problems and your proposed resolution?
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Fair warning....my husband likes to reinvent the wheel at times.......:hide:
 
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