Island Packet Closing doors

[Zeb]

Seems they may be having some issues? Didn't know if anyone was aware of this. Perhaps they will go through some restructuring?

Source
https://en.m.wikipedia.org/wiki/Island_Packet_Yachts

"After several attempts to reach them this week, it appears that IPY has closed. All of the phone lines are dead and the company email addresses, as well as the direct employee addresses that were attempted, all kicked back as no longer in existence. Company employees had shared that they were in tough shape during 2015, never recovered from the financial crisis, and hadn't been selling many boats in recent years. An eviction notice dated Feb 24, 2016 was posted on the locked factory door."

- Zeb

[MarkJ]

Can't see anything in the media


Its been a tough few years for luxury items

[AiniA]

They faced the same problem that all sailboat builders have, excepted perhaps those building for customers who don't care about cost. You build a successful product that does not particularly degrade, especially with an owner who really looks after their boat. After a decade or so the used market is so large and diverse that no one really needs to buy a new one. A boat a few years old could save you hundreds of thousands of dollars (for a large IP) and be better than a new one. The only possibility is that you come out with a new model that is demonstrably better than the old one. Hard to do with a conservative cruising boat design.

[Sailor Jer]

I can't see why people bought those things LOL, Swan, Hinckley or even a Concordia much better yacht in IMO.

[Island Time O25]

Unfortunately for them they are (were?) a dying breed. In today's world of mass marketed cheap trinkets a company producing better than average product will be forced to either become just like everyone or price itself out of the average Joe's budget. There is no middle ground anymore or so it seems.

[Island Time O25]

Originally Posted by Sailor Jer

I can't see why people bought those things LOL, Swan, Hinckley or even a Concordia much better yacht in IMO.

But they were "only" $500K or thereabouts. A Hinckley or a Swan in that size, if they're still doing that size, would probably be closer to a mil or more.

[robert sailor]

If you want to buy tools these days you go to Harbor Frieght and you get cheap affordable tools, boat buyers are no different. The average Joe does not want or simply can't buy quality anymore. We are conditioned to accept "good enough"and that's unlikely to change.

[DDabs]

Originally Posted by Sailor Jer

I can't see why people bought those things LOL, Swan, Hinckley or even a Concordia much better yacht in IMO.

[Tayana42]

If this is true it is sad indeed.


S/V B'Shert

[sailorboy1]

Hard to survive in the "middle ground" of boat building (or any product) where you are a mass produced boat but trying to be priced higher that the other mass builders but lower than the semi-custom boats.

[Zeb]

Well somewhat of just a rumor at this point since I don't always put solid stock in Wikipedia. I was wondering if anyone else had heard word of it though.

- Zeb

[Jim Cate]

Originally Posted by Zeb

Well somewhat of just a rumor at this point since I don't always put solid stock in Wikipedia. I was wondering if anyone else had heard word of it though.

- Zeb

If it is at all important to you, yu could try calling them and see if anyone answers...

Jim

[Zeb]

I did try to call and the number is disconnected. Tried both the toll free and regular number.

- Zeb

[Island Time O25]

Originally Posted by sailorboy1

Hard to survive in the "middle ground" of boat building (or any product) where you are a mass produced boat but trying to be priced higher that the other mass builders but lower than the semi-custom boats.

Sadly very true.

Also I believe we expect quality to follow price. So if a product with quality index of say 3 is selling for $X we expect a similar product selling for $3X to be 3 times better, i.e. with index of 9. And when it's "only" 2X better, index of 6, we can't rationally justify purchasing it unless "money is no problem".

[Orion Jim]

Too bad another manufacturer bites the dust. They were never in my price range and their interior arrangements were not my style but they did seem to build a quality product.