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My Barker Cat BOONDOGGLE

Old 02-01-2019, 09:49 AM
  #121  
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Originally Posted by FL-fisher View Post
Ray isn't the only person that "invested" the $250K on the new Barker cat venture. The person who has #5 slot lives up here in the Tampa Bay area and gave the same $$ as a deposit. I think he has given up and bought a new Invincible cat. But him being #5 would infer that there are at least two more (#3 and #4) out there who are in the same boat (no pun intended).
So there’s probably a million dollars in deposits for this thing. Plus whatever money they were making building 200k bay boats.

How much does it cost to have a mold this size CNC cut?
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Old 02-01-2019, 09:52 AM
  #122  
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maybe he is waiting to steal more info from wiley before he can finish the project? so its really wily's fault!
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Old 02-01-2019, 10:03 AM
  #123  
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Originally Posted by JDBer94 View Post
I believe they were deleted because the OP stated that Barker was out of business and that statement was false.
I'm just glad that you got your boat.

Sucks for Ray and any others caught up in the shenanigans.

I'm surprised that Jillybird hasn't come along.


Originally Posted by Kenner 23 View Post
Can you imagine how fast the resell is on the few existing boats they made is dropping?
Why would it drop much? Has nothing to do with the quality or ride of the boats already out there. Any pics of previous Barkers that need major warranty repairs?

That hull would slot nicely into Invincible's line up if they so desired.
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Old 02-01-2019, 10:06 AM
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Originally Posted by GCC View Post
Im just curious (not bashing) why anyone would put such a large deposit down on such a thing? Is this normal?
Great Question. I don’t think putting $250K down for 2 boats worth $450K is normal but what do I know. I can see 10 or 20% down and then a couple progress payments before the final amount is due upon delivery and inspection. Similar to how you pay a contractor to build a house for you.

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Old 02-01-2019, 10:17 AM
  #125  
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So what if any response has Barker provided to these buyers? Was it simply to 'keep waiting?'

Was there delivery date guarantee in the contract?
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Old 02-01-2019, 10:18 AM
  #126  
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Originally Posted by old hat View Post


Great Question. I don’t think putting $250K down for 2 boats worth $450K is normal but what do I know. I can see 10 or 20% down and then a couple progress payments before the final amount is due upon delivery and inspection. Similar to how you pay a contractor to build a house for you.

Not uncommon when a "start-up" is starting that a few "investors" pony up on the first few boats, if you notice the second boat was 10% over cost.
Takes a ton of trust (and usually paperwork) between the "investor" and builder.
There are more than a few yacht guys that own ship/boat yards because the builder couldn't finish the boat.

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Old 02-01-2019, 10:22 AM
  #127  
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Originally Posted by old hat View Post
Great Question. I don’t think putting $250K down for 2 boats worth $450K is normal but what do I know. I can see 10 or 20% down and then a couple progress payments before the final amount is due upon delivery and inspection. Similar to how you pay a contractor to build a house for you.
Because it was not a "go to a dealer or manufacturer and purchase a boat deal". It was a partnership agreement, not a purchase agreement. That being said it is still not a good situation obviously and with any partnership agreement there are certainly more risks on both sides than an all out purchase agreement.
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Old 02-01-2019, 10:32 AM
  #128  
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The OP hasn't chimed in but I agree it sounds like this was more about a business deal than a boat purchase. It also sounds like Barker is absolutely using large deposits on unbuilt boats to fund the company, watch any special on people doing this and they always have plenty of money up until the scam ends. Based on the way people discussed Barker on this board I assumed it was a long established quality boat, instead it appears it is just all hyped up based on the prices charged. However, this conversation is for people with a bunch more money than I have so I'll just sit back and listen.
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Old 02-01-2019, 10:39 AM
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Which is why my dad told me many many years ago, stay the hell out of partnerships. No one ever wins!
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Old 02-01-2019, 10:58 AM
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Originally Posted by HOmer72 View Post
The OP hasn't chimed in but I agree it sounds like this was more about a business deal than a boat purchase. It also sounds like Barker is absolutely using large deposits on unbuilt boats to fund the company, watch any special on people doing this and they always have plenty of money up until the scam ends. Based on the way people discussed Barker on this board I assumed it was a long established quality boat, instead it appears it is just all hyped up based on the prices charged. However, this conversation is for people with a bunch more money than I have so I'll just sit back and listen.
Yes, 6 Lucky buyers were let in on the "deal".
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Old 02-01-2019, 10:58 AM
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Old 02-01-2019, 11:09 AM
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In my opinon, the only thing in that agreement that makes it a "partnership" was sharing in any potential upside when/if boat number 1 sold. The rest was a build sheet with options and specs and an agreement to build 1 or 2 boats (I doubt whether the second boat was enforceable). I see it as a contract to build a consumer a boat rather than a partnership agreement. Courts pay far more attention to the contents of the agreement rather than what its title is at the top. I can see that some people are starting to take the position that this isnt a consumer who never got what he paid for but rather a business venture that simply didnt work out, and I doubt that Ray Smith thought he was becoming an owner/investor in barker boatworks.
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Old 02-01-2019, 11:09 AM
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Originally Posted by Cucumber View Post
WOW!! That reads like the Nigerian prince scam! No freaking way!!
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Old 02-01-2019, 11:10 AM
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You got screwed and I hope it works out for you.

2 observations.

1) There is some piss poor grammar and legal verbage in that document. I would be worried about my representation.

2) As the one user pointed out - I can only imagine any decent lawyer would cringe at posting that here. Better hope you win because if it were me I would come swinging back with a screen shot of this thread.

Last edited by General Disarray; 02-01-2019 at 11:48 AM.
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Old 02-01-2019, 11:24 AM
  #135  
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Sorry you got " the Plan " Ray . Hope it works out for you .
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Old 02-01-2019, 11:29 AM
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I smell bankruptcy in 3......2......1. What's the over/under, in weeks, that BBW files?
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Old 02-01-2019, 11:30 AM
  #137  
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$1.5M in deposits
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Old 02-01-2019, 11:52 AM
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I would like to see the entire contract. There has to be a schedule in there. "BBW will begin construction within thirty (30) days of $250,000 deposit being received." There could be some serious outs included as well exculpating BBW. Guess the judge/jury will get to see it and determine if there has been a breach of contract.
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Old 02-01-2019, 11:55 AM
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Originally Posted by alacrity View Post
Wasn't there a mold or plug whose payment was long overdue?

And no one saw this coming 6-8 months ago????
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Old 02-01-2019, 12:43 PM
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Where's the part where someone says the heavy hitters on THT should get together and buy up Barker and build giant cats?
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