North Carolina boat auction set for this weekend

Posted on 04 March 2010
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Iron Horse Auction Company is conducting a $3 million inventory reduction auction for North Point Watersports of Mooresville, N.C.

North Point Watersports sells MasterCraft Ski Boats, Manitou Pontoons, Rinker and Formula Yachts.

The dealership held a similar auction last year that was successful, and this year will be selling new, non-current, as well as used inventory and leftover equipment, Tanner Frazier, manager of the dealership's parts department, told Soundings Trade Only this morning.

"We know we will lose money," he said. "But it's well worth it to get them off the floorplan to get our slate more clean for the upcoming season."

The new, non-currents are mostly 2009s and a few 2008s, he said. The used boats are mostly 2008s and 2007s, with a few 2006s.

"This is a rare opportunity to purchase a new boat with a manufacturer's warranty below the dealer cost," said Sonny Weeks, of Iron Horse Auction Company, in a statement. "This should prove to be the best boat-buying opportunity of the year."

All boats will be sold regardless of price. Ski supplies will also be sold in conjunction with the boats.

The auction will be held at 11 a.m. Saturday on site at North Point Watersports. The auction will also be broadcast live on Proxibid.com/ironhorse.

Comments
6 Thursday, 18 March 2010 22:51

I guess a company that has been sold, handed over, sold again, resold, and reinvented by several venture capital groups in the past 8 years isn't "sub-standard"?   ....it's certainly not "gold standard".  The comment wasn't directed at the product - it's not hard to build a good product while you fleece investor after investor, you just have to wonder when the money tree will run out.  Fortunately for MasterCraft employees, Mr. Dorton has a green thumb in that world.   

5 Thursday, 18 March 2010 16:47
I guess we can now say four comments and all wrong - listing MasterCraft as a sub-standard brand is way off the mark.
4 Wednesday, 17 March 2010 02:41
Three comments, and all wrong.  The auction was barely noticed, we didn't talk to a customer who mentioned it once.  Buyers are smarter than that, if you have to auction it, what's it say about the value of that brand?  The financially solvent industry leading manufacturers have always stepped up and supported their dealers...not everyone gets to align with the good manufacturers.  Not every dealer over-bought, didn't pay attention, and got caught with sub-standard brands....just the ones you like to write about.  The quiet ones who've seen this all before don't make headlines.
3 Saturday, 13 March 2010 14:09
I see this as just another way to screw existing dealers trying to make a profit. It will be 10 years before the boat biz is back to normal, whatever normal is.
2 Thursday, 04 March 2010 19:48
This will help Northpoint, but with deals like that it will hurt other area dealers who are trying to move non current and new inventory. Most smart buyers will jump on this chance for great deals. Good luck on the sale.
1 Thursday, 04 March 2010 17:25
Boy this is just a great opportunity for the buyers .To bad the manufactures don't step in and help the sellers so it does not come to this Yell   Money mouth

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