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3.0 2 Reviews

Bravada Yachts Complaints Summary

1 Resolved
1 Unresolved
Our verdict: While Bravada Yachts has an above-average resolution rate, there’s room for improvement. Investigate common issues reported by customers and understand how they were resolved. Be prepared to follow up on your queries if needed, and keep detailed records of all interactions.
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Bravada Yachts reviews & complaints 2

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12:28 am EST
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Bravada Yachts Bravada yachts same owners of Riviera Penthouses LLC

The same owners of Bravada yachts now have opened another LLC. Named Riviera Penthouses LLC. They took our 20% deposit plus payments for 7 months and now tell us project is on hold. They will not refund money. They have not built any of the boat even though they have a 153,000 dollars wish I would have came here first and took the advice money should go into escrow account not into their LLC they should have to show progress on your house boat. Better yet just do not do business with Riviera Penthouses LLC also they are advertising has Havasu Yachts. We are good hard working people having our money stolen by this company do your research they have litigations pending. Stay away.

Claimed loss: 153,000

Desired outcome: Refund my money

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nottheone87
lady lake florida, US
Feb 08, 2024 1:52 am EST

They have several businesses and NUMEROUS law suits. I was a former employee and am still owed money. Also found out they had been deducting insurance premiums from paychecks but wasn't paying the insurance companies. They were pocketing the money and unfortunately there is not a lot we can do about it. They have so many pending law suits open that none of the employees that are owed money will ever see a penny. It has caused several to be evicted from their homes and utilities disconnected and we were always fed the same line "we are working on it, we have several deals in motion that should close by the end of the week and we can get everyone caught up". I am very sorry this happened to you, and I know it is of no comfort, but you are not the only one it happened to. Bravada Yachts, Atlatl Group, Riviera Penthouses, Havasu Yachts, Destination Yachts (whom they bought in 2021 I believe), all no longer exist. There is no way to contact them, all their mail was being forwarded to an address in Washington, Indiana where the building has been sitting unoccupied since August/September of 2023. Well, honestly since Mid-July when production came to a halt. They owe millions of dollars to people and finance companies, while those of us who are still waiting on our money from working for them, they have been enjoying life in their nice home in Arizona and the owners wife has been pursuing her music career and booking shows left and right in California. While I had to return my kids christmas presents to keep my home, and others have been under hardship, they are sleeping like babies trying to set up shop in other locations.

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1:18 pm EDT
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The complaint has been investigated and resolved to the customer’s satisfaction.

Bravada Yachts scam - fraud - ponzi scheme - do not purchase

Here is what Bravada doesn't tell you when you are purchasing a share from them.
1. There is a strong possibility that your boat will not be ready by summer. Of-course they make you pay upfront in cash but they won't start production on your boat until 80% of the shares are sold. Oh yea there's no refunds once you are in, they will just push production to the next summer. By the way this isn't disclosed in your contract or even during the sales process, it's just something they decide and they inform you your boat won't be ready this summer.
2. The boats they use on their website and in their marketing materials, yea those aren't the boats you purchased. The gray paint and the orange accents, yea that is an upgraded. A $40, 000 paint upgrade. Your boat will be plain white. See the really nice flooring in the picture online that looks wood? Yea that's an upgrade, a $52, 000 upgrade. They dont disclose this in their contracts or ever during the sales pitch. They show you the best boat possible, then 2 months prior to completion they tell you about the upgrade fees. Your Share price is likely to go by $30, 000- $100, 000 by the time you get your boat! Also if you buy a share and your group chooses to upgrade the paint, the flooring and anything else... majority rules! Thats right you could be obligated to pay another $30k-$100k after you purchase your share.
3. The company was bought out of Bankruptcy 2 years ago & is run by owners who have little to no experience with yacht companies. Yes they have owned a houseboat before 1 share on the boat Atlas, but never run or built multi million dollar yachts. They are figuring it out as they go. And the money you give them for your share price, often goes to lavish parties, marketing events at Barrett Jackson Auto Auction, Golf Tournament sponsors, Large owner Salaries and whatever else they need to keep the cash coming in. Sounds like the beggining of a PONZI SCHEME in my opinion, but certainly a recipe for disaster & most eventual criminal charges when the house crumbles and people that purchased shares loose their money & get no boat.

Here is what I recommend you do if you purchase a Share with Bravada:
1. Schedule a payment plan. Just like when you build your house, a bank doesn't hand over your builder all the cash upfront and hope he builds it. The builder has to request cash draws, then proove to the bank that he has completed the work. YOU SHOULD DO THE SAME WITH BRAVADA! Agree to a price upfront and require them to request draws, and prove the work on your boat is being completed. even if you have to put all the cash into an escrow company or with a lawyer so Bravada knows it's all there, don't release it all at once.
2. I would make sure you get date of completion in the contract. A date that the boat must be completed, or else they refund your money in full.
3. Make Bravada sign off on exactly what you were sold. If their are upgrades they need to be identified in the contract. No Surprises Later!

I purchased my share for $140, 000 in November 2018, I'm sharing this based on on my own personal experience with the company. It has been a nightmare with no end in sight and no boat...?

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Since the posting of my complaint Bravada Yachts has resolved my complaint in full. I am satisfied with how Bravada settled my concerns and consider the matter closed.

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Rolandamerica
, US
Sep 15, 2020 10:00 pm EDT

All what you are saying is true. They request the payment and never start or continue the building of your boat. They use the money for "another things"...then they request loans to lenders, more money at very high interest, but the progress of the boat is...almost nothing.
Another thing, the structure of these boat are completely under standard, they never performed any structure calculations. Sail on this boats is a risk, high risk

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+1 (801) 272-8232

Website

www.bravadayachts.com

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