Cope Mcphetres filing for bankruptcy?

[jayjoans]

But right after I paid, he hosed me right back and said "Bet you would kick yourself if I told you I would have taken $10 for it"

hmm, jerks to the bitter end. Way to make somebody go from feeling great about a deal to not so great about a deal, even if he was joking.

[DIE2SURF]

Ya, you may very well be right; but I didn't mind so much, it pretty much made me laugh. I thought it was pretty clever.

Besides, I've got better things to worry about than bitterness. (and his unemployment line wait...heh)

[CRASH]

FYI, my G.F. went to the Santa Clara store yesterday and got a O'Neil vest and spring suit for about 20% of what the normal retail cost would be.

Thats it? I stopped by there on Xmas eve and they said that once they reopen Jan 5th, i will be able to buy stuff for 50% plus off the listed price.

I cant believe how many boats they have stuffed in their back lot. SAD!! Very SAD!!

Dude,

What I said was take for example a list price of $100 for an O'neill vest, she paid $20. In other words, she was getting the two pieces for 80% off. Good luck with your measly 50% off. Maybe send the wifee in there and she'll probably get 90% off.

edit: BTW, she saw all the Bu's they had and she asked the guy what was going to happen to them and he said the bank was coming to take them. Maybe a big auction coming up.

oops I shouldve read you post a bit closer. Yea thos prices are right in line to what he quoted me. The prices were a;ready reduced and he would take an additional 50% off the reduced price.

As far as the boats go, I believe that the boat manufacturers will be buying them back.

I have wondered and never asked how dealers typically finance or carry their inventory. What are the terms before they need to pay the factory in order to give them some leeway to carry a bit more inventory.

Anyhow, from Malibu's standpoint, I think they would be better off making a deal with the bank to take them all and re-distributing those boats into their dealer network. Not that many dealers are selling much, but better to do that than have them go at auction, mainly to keep pricing propped up as much as possible.

Most dealers will floor their boats through places like GE are Textron. The flooring companies have arrangements worked out with mfrs on how long they can return boats typically 18 months after the boat was recieved. After the 18 months the boats will go to auction. Flooring can get very expensive when boats are not moving. I think the flooring bill at the shop im at is $18000 a month.

[Pistol Pete]

But right after I paid, he hosed me right back and said "Bet you would kick yourself if I told you I would have taken $10 for it"

hmm, jerks to the bitter end. Way to make somebody go from feeling great about a deal to not so great about a deal, even if he was joking.

Just makes me wonder how much are these water sports accessories really worth?

Edited December 31, 2008 by Pistol Pete

[bu2007vlx]

So, are they still open trying to get rid of the last of their stock? anybody know if the Cope in Santa Clara still open? The last time I was there, the hour of operation were only weekdays and closed on weekends.

[68Slalom]

So, are they still open trying to get rid of the last of their stock? anybody know if the Cope in Santa Clara still open? The last time I was there, the hour of operation were only weekdays and closed on weekends.

Went by there last week on my way to the DMV and they were open with plenty of boats out front! Not sure what that means, but that was during the week

[Malibudude]

So, are they still open trying to get rid of the last of their stock? anybody know if the Cope in Santa Clara still open? The last time I was there, the hour of operation were only weekdays and closed on weekends.

My understanding is they are closed until the 5th.

[68Slalom]

So, are they still open trying to get rid of the last of their stock? anybody know if the Cope in Santa Clara still open? The last time I was there, the hour of operation were only weekdays and closed on weekends.

My understanding is they are closed until the 5th.

I thought this was a discussion of going out of business, wasn't sure what was intended by the comment about still open

[bu2007vlx]

Tony, always looking for deals. I'm not in the know about deals like you and George. Happy New year to you and your family, Stevie d

[68Slalom]

Tony, always looking for deals. I'm not in the know about deals like you and George. Happy New year to you and your family, Stevie d

Trust me, I'm not the guy you want to know about deals. When I need it I pay but I hope your family has a great new year and I'll be waiting for you on the month of May for some skiing

[bu2007vlx]

Tony, you got that! I can't to get back on the water when it warms up. We'll call George and tell him to bring one fo his 20 or so boards he has on the racks in his garage. It seems like I was delivering a board a week to his place of employment these last month and half. Hope next year bears great things for all of us!!!!! Talk to you soon, Stevie d

[deltadayz]

Don't get all excited about Cope/UWS' Malibus going to auction and getting them for dirt cheap. When a dealer goes out of business, the manufacturer typically has an agreement to buy them back from the dealer's bank. Malibu is financially strong, so they will buy them back from the bank and then sell them to their dealers. I'm sure Malibu will distribute them throughout their dealer network to minimize any impact on CA dealers and Malibu's market. There will be good deals on the Cope inventory, but no auction and no outrageous discounts.

[MalibuWantToBe]

Don't get all excited about Cope/UWS' Malibus going to auction and getting them for dirt cheap. When a dealer goes out of business, the manufacturer typically has an agreement to buy them back from the dealer's bank. Malibu is financially strong, so they will buy them back from the bank and then sell them to their dealers. I'm sure Malibu will distribute them throughout their dealer network to minimize any impact on CA dealers and Malibu's market. There will be good deals on the Cope inventory, but no auction and no outrageous discounts.

I consider myself lucky, because I picked up my VTX through my dealer, but he got it from Heckels when they went bankrupt in August. As I understand it when Heckels finally closed their doors Malibu sent out an email to the dealer network offering the inventory that Heckels had. My dealer knew I couldn't afford the fully loaded VTX he had in stock, but saw one on the list that had less options and a more affordable price. I happened to be talking to him that day and he told me about the boat. I bought it later that afternoon.

By no means was it a steal, as Malibu's are expensive. But it was what I consider a very good deal. You have to be flexible though as you might not get the color you want or the boat optioned the way you want. Your best bet might be working with your own dealer, if they have their own inventory they might not be as willing to, but you can always ask. I'm pretty sure my dealer still made money on the deal (if not at least some points with Malibu). And I know he would have preferred selling his instock boats, but knew my price point. Also knows I will buy my lift and store it with him for years to come.

Good Luck

My new bu.

[RogerQ]

I went to Cope in Santa Clara this morning to have my boat serviced acording to the appointment I made 6 weeks ago. They are not able to get parts and need to rely on another Cope store having the needed parts, like an impeller & spark plugs, to do a 100 hr. service. Given their uncertain situation, I elected to bring my boat home and find another place. Escalon or Salinas are my options now.

p.s. As I was getting ready to go, a few pick-ups were arriving to haul off boats. Probably a bank. Very sad.

[Malibudude]

I went to Cope in Santa Clara this morning to have my boat serviced acording to the appointment I made 6 weeks ago. They are not able to get parts and need to rely on another Cope store having the needed parts, like an impeller & spark plugs, to do a 100 hr. service. Given their uncertain situation, I elected to bring my boat home and find another place. Escalon or Salinas are my options now.

p.s. As I was getting ready to go, a few pick-ups were arriving to haul off boats. Probably a bank. Very sad.

Nope...but they are going elsewhere.

[Taz]

I went to Cope in Santa Clara this morning to have my boat serviced acording to the appointment I made 6 weeks ago. They are not able to get parts and need to rely on another Cope store having the needed parts, like an impeller & spark plugs, to do a 100 hr. service. Given their uncertain situation, I elected to bring my boat home and find another place. Escalon or Salinas are my options now.

p.s. As I was getting ready to go, a few pick-ups were arriving to haul off boats. Probably a bank. Very sad.

Nope...but they are going elsewhere.

Does anyone no where they are going? I am in the market for a new 23LSV and ready to buy when I find the right deal.

[RogerQ]

Call Chris in service. He might know.

[Malibudude]

I went to Cope in Santa Clara this morning to have my boat serviced acording to the appointment I made 6 weeks ago. They are not able to get parts and need to rely on another Cope store having the needed parts, like an impeller & spark plugs, to do a 100 hr. service. Given their uncertain situation, I elected to bring my boat home and find another place. Escalon or Salinas are my options now.

p.s. As I was getting ready to go, a few pick-ups were arriving to haul off boats. Probably a bank. Very sad.

Nope...but they are going elsewhere.

Does anyone no where they are going? I am in the market for a new 23LSV and ready to buy when I find the right deal.

Call Oasis Marine in Redding, Boat Country in Escalon, or Salinas Marine.

[LSVSharks]

Call Tim at Salinas Valley Marine. He is getting some of Copes boats. Tell him Brad told you to call him.

[LakeOneSkier]

From a post on TheWaterSkiForum...

"I was at lunch w/ a dealer friend who told me that Malibu had re-purchased the inventory of a dealer in California that went into Chapter 7. They are selling the units thru their dealer network. He stated he could sell a brand new 2008 Response LXI (thru this program) loaded w/ trailer for $29,000 and MAKE A PROFIT on the sale. Wow! That puts promo guys trying to sell their 2008's at a major disadvantage. It will be interesting (or sad) to see where all of this stands when the dust finally settles. "

If I can get a new RLXi for only $2k more than I bought my '01 RLX for I may have to rethink my new boat every 10 years strategy.

[CRASH]

We had the malibu techs up this week they said they had a 150 boats to pick up from cope. They will be redistributed.

[Hwood]

He stated he could sell a brand new 2008 Response LXI (thru this program) loaded w/ trailer for $29,000 and MAKE A PROFIT on the sale. Wow!

Wow is right. Makes me sick to see that $45k BASE price advertised in the '09 WS Buyers Guide.

[Taz]

Wow, that does not seem possible. If they are selling at a profit at 29k, that means thier cost is less than 50% of the boat's retail price (i.e., there is normally a huge profit in every boat). If that is the case, you would think that Malibu and its dealers would be in a much better position. Also, I am in the market for a 2008 Wakesetter 23LSV and the best price that I have been quoted on the Copes boats is much higher than 29k (though I recognize they are different boats).

[LSVSharks]

I went to SC Waterski club meeting last night. The banks and distribution centers are closing Copes today. The repair shop will re-open in Santa Clara somewhere. The guy who ran the service area decided to open a shop just work on them. Malibu took back 170 boats from Copes all over CA to be refurbished and re-sold. Ski Centurian and other boats that copes has will be doing the same. I am sure it will change the industry in the next year or so. Good time to get a boat right now bad time to be selling one. Just like houses, cars, and any other large purchases.

[woody]

Has anybody heard where all the floor merchandise is going? Will Cope's open the doors to blow that stuff out (50%-75% off) ?