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Old 26-02-2016, 14:04   #1
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Island Packet Closing doors

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."

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Old 26-02-2016, 14:14   #2
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Re: Island Packet Closing doors

Can't see anything in the media


Its been a tough few years for luxury items
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Old 26-02-2016, 14:20   #3
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Re: Island Packet Closing doors

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.
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Old 26-02-2016, 14:35   #4
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Re: Island Packet Closing doors

I can't see why people bought those things LOL, Swan, Hinckley or even a Concordia much better yacht in IMO.
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Old 26-02-2016, 14:36   #5
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Re: Island Packet Closing doors

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.
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Old 26-02-2016, 14:39   #6
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Re: Island Packet Closing doors

Quote:
Originally Posted by Sailor Jer View Post
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.
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Old 26-02-2016, 14:44   #7
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Re: Island Packet Closing doors

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.
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Old 26-02-2016, 14:44   #8
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Re: Island Packet Closing doors

Quote:
Originally Posted by Sailor Jer View Post
I can't see why people bought those things LOL, Swan, Hinckley or even a Concordia much better yacht in IMO.
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Old 26-02-2016, 14:47   #9
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Re: Island Packet Closing doors

If this is true it is sad indeed.


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Old 26-02-2016, 14:47   #10
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Re: Island Packet Closing doors

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.
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Old 26-02-2016, 14:57   #11
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Re: Island Packet Closing doors

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.

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Old 26-02-2016, 15:00   #12
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Re: Island Packet Closing doors

Quote:
Originally Posted by Zeb View Post
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...

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Old 26-02-2016, 15:03   #13
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Re: Island Packet Closing doors

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

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Old 26-02-2016, 15:05   #14
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Re: Island Packet Closing doors

Quote:
Originally Posted by sailorboy1 View Post
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".
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Old 26-02-2016, 15:10   #15
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Re: Island Packet Closing doors

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.
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