For Sale: ISLANDER 36- Already out there

[Minggat]

Islander 36

Asking $56,000 for cruise ready in Fiji. So you can just fly and not deal with long passages & crew issues.

Over $300,000 invested.... so don't call me crazy. I know already.

Still, That's a lot a of money thrown at things that will keep cost down for the next owner. I already went thought the stress. You can go through different stress.

And don't miss the folding electric bike below.

1973 was the year before fire retardant was mandated in the resin formula during construction. That fire retardant reportedly resulted in a serious blister problem in the boats built the next year. While Minggat has also had some blistering, they have all been addressed.

She has been maintained and extensively upgraded and made stronger than factory in many areas. Sistering in 8 additional keel bolts among other things, has given the current owner much peace of mind for ocean passages.

She is currently in the cruising destination of Fiji, with an asking price of $56,000.

This is not a low-end boat. Spending less might get you much less boat.

Dodger hardtop.
Stern arch.
Bimini.
Boarding ladder.
Minimal exterior teak.
Mid-ship cleats.
Folding electric bike.

2 Spinlok PFD’s

Electronics -
NMEA 2000.
Ultrasonic weather sensor (masthead).
Vesper AIS transponder,
Furuno radar DSR4.
Furuno MFD with Cmap charts.
Simrad IS42 display, with condition shift alarms.
VHF with RAM mic.
Handheld VHF.
EPIRB.
inReach Explorer.

Simrad tiller pilot (for windvane steering system).

Hydrovane self steering windvane (independent rudder system).

Ground tackle-
New Lofrans X2 Power windlass with chain counter.
Sarca Excell 66lb primary anchor with integral breakout system.
Delta secondary anchor
200 ft new chain.

Sail system-
Harken roller furling.
Stack pack with integral Lazy jacks.
Full batten main.
Spring vang.
2 headsails.
Asymmetric spinnaker.
Additional light air sail.
Whisker pole.
4 of the 8 winches aboard are self tailing winches.
All new chainplates and standing rigging 2016.

Augmented keel bolts, 16 total.
Encapsulated prop strut.
Tabbed in bulkheads, no creaking under sail.
Cockpit scuppers relocated above the waterline and thru hulls enlarged.

Accommodations-
Water maker.
Military grade stand alone refrigerator. (typically consumes 12 AH through the night, with other LED indicator lights)
Separate digitally controlled freezer.
Microwave.
2 burner stove/oven.
Composite propane tanks (2)

Electrical-
2500 watt inverter.
Solar 280 watts.
Lithium 200 ah house batteries.
Optima start battery.
DC/DC charger.

3 automatic bilge pumps with alarms.
New manual bilge pump.
Latching, interlocking bilge covers.

Perkins 4/108 aux diesel engine.
New heat exchanger.
Fuel polishing systems (2). Goldenrod Fuel strainer.
2 Racors.
Upgraded Perkins spin on filter. (No canister)
Flexofold folding prop.
Spare fixed blade prop.

Folding transom (low profile) Achilles 10 ft RIB lite with keel guard & beach wheels, folding anchor, security cable. (This RIB design is the one that you don't mind storing up on the foredeck deflated. Think about a RIBs that doesn't take up space and block view)

The Vee berth features 4 custom made latex foam Sealy Serta mattresses, (not cushions), which are designed to pull out easily for access to storage beneath, yet fit snugly together for a seamless single mattress sleeping quarter

The primary military grade refrigerator/freezer draws as little as 12 amp hrs through the night.

New upholstery.
New headliner.

Minggat is a blister free hull, with tabbed in bulkheads, additional sistered in keel bolts, and an encapsulated prop strut. Engine mounts are machine bolted to glasses in plates. Not lag bolted to wood in stringers.

The 30 gallon aluminum fuel tank has a clean out access plate. There is a stand alone fuel polishing system as well as a separate capacity to polish the fuel in the normal fuel flow path.

She has been upgraded and modernized extensively. The original windows are long gone, with new cast acrylic port lights and hatches.

The robust systems aboard have been refined and proven during ocean passages. Now she is already in one of of worlds most popular cruising destinations.

https://www.youtube.com/watch?v=JVmeKv2rvvc

[Minggat]

OK guys.

Doing my market research here.

330+ views here. 40 of those clicked on the YouTube link.

Not a peep from anyone.

I can only speculate as to why the silence.

Trying not to take it personally.

Did I loose you guys with the long boring list? The location? The timing? Or Heavens forbid the asking price?

The video was getting long, so I quit before I got to some things I wanted to cover. I am putting together episode 2.

I would post a clip here now, but it looks like it needs to be a YouTube production to do that.

Waiting to hear back from the forum.

It's ok to tell me that I'm crazy. I know already.

[Orion Jim]

It’s always the asking price. Detailed descriptions don’t chase prospective buyers away. The phrase “location, location, location” is not just applicable to the real estate market. It’s a major time and financial investment to kick tires thousands of miles away.
Good luck!

[wholybee]

You are both emotionally attached, and trying to justify all the money you spent on improvements. Nether of those things are material in valuing a boat. Comparable boats are.

It's 60% more expensive that the most expensive Islander 36 listed on Yachtworld. Unfortunately, adding a whole bunch of new equipment doesn't significantly affect the price. It makes the difference between which of several boats a buyer would choose. You also have to consider what other boats (different brands) could be considered at your price. Islander 36 is a popular boat at it's price point because it is a great boat for the price. At your price, people are going to start looking at 30-40 ft boats, newer boats, etc. The informed buyer will know how difficult is will be to insure a 1973 boat.

Being in Fiji does significantly affect the price. Sail her north to Hawaii, then East to San Francisco if you expect to get top dollar. Everything is more expensive in California. The most expensive Islander on Yachtworld is in Long Beach.

[wholybee]

And to relate, I am facing a similar situations deciding if I want to upgrade to a larger boat. I have about $100k invested in my current boat, worth about $40k. If I sell her, I loose all of that investment, and would likely need to make much of that investment again, after spending $80k on a boat that needs work I just spend years completing on my boat.

Boats are not an investment. They are a huge hole you through money in.

[Minggat]

Ahh.

I asked the right question!

At the end of the day, I know that someone is going to get a great deal on a tricked out boat.

I feel much more emotionally attached to the $$ than to the boat itself. We bought land in Indonesia and hope to cash out the boat before we build. But sure, nobody feels good about walking away from expensive choices when it's time to walk.

To appeal to the widest market, it's always the price.

I'm hoping to strike a nerve with the guy who wants to find out why my price is so crazy out of line with lesser outfitted Islanders. One who might see the value of the extra keel bolts as opposed to 50 year old keel bolts.

I absolutely agree with the feedback you guys give. Hard for an impatient guy to hear.

At this point, taking her back to California is pretty unattractive. And then still drop the price to move things along... is just all the more sucky. I would also be far easier if the boat were in NZ already. That's only a 8-10 day sail from here.

I did title my post "Already out there" to hopefully appeal to those people who look for boats that somebody else put where they would like to wind up. But that obviously is a pretty small market.

So I'm hoping to appeal more to the Kiwi and Ozzie market. Far far closer. But the Yachthub website clicks pale in comparison to the Saliboatlisting clicks.

To be fair, I did list on the US site first, and wasted some days before listing on Yachthub.

Again, just an impatient guy waiting (only about a week now) for someone to say, "I like what you've done. Can we talk?"

When (painfully agreeing that it's not likely to be IF), my asking price slips, I feel sorry for anyone who will be within earshot of my whimpering.

Thanks all.

[Katapult Mike]

Having just closed on an Islander 36 in San Francisco Bay, I would like to chime in with a couple points. First, the general observation that "everything is expensive in Califronia" is certainly true. In the case of Islander 36's in particular, I am not so sure. There are a lot of them here in NorCal, because many people, including myself, think they are very well suited to the (pretty windy) conditions on SF Bay. But although there are lot of people who like them here, there are also a lot of them for sale here, and they don't seem to be moving fast. I don't think the voyage would be worth the reult for you. Second, I believe that the idea that someone would pay more for a boat because it is already in an atttractive cruising ground is just not borne out by market prices. I do know some people who look for boats in crusing grounds far from poplulation centers. But they are always doing it on the assumption they will get a great boat already fitted out for cruising at a great price. And by great price, I mean great for the buyer, not you. Third, as others have said, price is largely determined by what other boats of the same model sell for. You never get back what you have paid for updgrades. The seller of my boat certainly did not.

Having said all that, yours sounds like a great boat, and I wish you the best of luck with the sale!

[Minggat]

OK, Ok,

Let me be clear.
I'm not trying to bump up the price because of where she is. That would be the opposite of smart.

Boats do sell here. And yes. Buyers do come with the expectation of better prices.

I am not wrong to try to appeal to those that see the location as a positive.

Again, I am in no way going to get her back to California, where I would be competing with non-cruise ready boats.

I have long been aware that these Islanders generally show up on the market at $35K high end. Every now and then, one pops up at an "outrageous" price. You take a look and see what the owner has done to justify his price. Before too long, it's gone from the market.

If you take one of the $35,000 boats, and start adding essentials to make it a cruise ready boat (self steering wind vane $6500, water maker $8000, RIB dink without motor $5000, lithium batteries and solar $5000), (all above are replacement cost WITHOUT labor),You would have $35,000 + $24,500= $59,500. And you would still have 45 year old keel bolts, no folding prop, original chain plates and all the rest of the boat original 1970's.

Point is, there is only so much comparing apples to giraffes that works. It's coastal boat vs cruise ready.

If I discount to appease a champane taste on a beer budget, now (after only 2 weeks on the market), I'm still going to be dead in the water. It is now the low season. All the Kiwis and Ozzies have gone home to beat the summer hemisphere heat (and steer clear of cyclones). Only Yanks and Canuks are silly enough to stay.

A sequel to my YouTube video is coming. Please watch here for it, and don't hurt yourself clicking "like".

[wholybee]

While it's true that if someone were to buy a $35,000 Islander they would quickly be far over your asking price if they started to improve it, it is also true that for $56,000 you can get a much nicer boat than a 50 year old Islander. Most people are not going to be shopping for an Islander, but the best boat they can buy for the money they have. Newer boats. Bigger boats. More comfortable boats. That is probably the biggest hurdle.

Maybe you will find the person that wants a well equipped boat that is already in Fiji. But you need to be ready to wait a long time for that.

[qwerme]

IMO, keeping track of expenses is your first mistake.

It’s a hole you throw money into, why hurt yourself counting how much you’ve spent?

[OneBoatman]

Nobody gets their money back for loving their boat. At best you enjoyed your upgrades for a few years and may have been able to insure it slightly above its "book value" which of course is next to nothing but that's it. If you want and need to get out to offset your new lifestyle on land you should probably lower your asking price to about 45K and hope you've lowered it enough and be done with it.

[Direstraits]

Just an idea - why not offer it to a prospective buyer as a Charter for a week where the deposit would be the down payment (say 10%) held in escrow - the buyer sails the boat for a week - if he likes it the deal goes down. If not, then half the deposit is returned....

Both sides win and lose a little bit.....

Cheers,
Dennis

Just a thought - since your asking price is too high for the existing market - this added bonus might spur some interest.

[gordonhinds]

Seems like an incredibly good boat for the money. Perfect location. It will take a few months to sell given its cyclone season in Fiji. Put it on yacht world. Ask more and use a broker? Amazing boat super well equipped.

[Minggat]

Originally Posted by qwerme

IMO, keeping track of expenses is your first mistake.

It’s a hole you throw money into, why hurt yourself counting how much you’ve spent?

Qwerme,

Offensive. Inaccurate.

Not every "my loss is your gain" situation is about someone lacking your wisdom.

I put this boat together FOR ME. I have made her as safe and comfortable as I WANTED.

Clearly I DID track my expenses.

When you own something that you want to own for 23 years, do you NOT want to make is safe and comfortable and something you can be proud of?

Of course I would like to recover as much as possible. But being a big boy, "hurting myself" would not be about counting losses.

Trying to convey what a great deal the next owner will be getting with an outrageous price tag has brought the boat a pretty fair amount of attention. And if a courageous interested party steps up and says "I like what you've done, Can we talk?", then I'm ready.

Most of the opinions I have seen here are positive and helpful.

Now I'm ready to be less outrageous. My timing is bad, but I'd like to move
forward.

Here's the sequel. If you click enough,(back to "MORE" on the first video, you will see a price reduction.

[URL="https://youtu.be/gI5ZUZRmuog"]

I may post a whole new thread with both videos and the revised price. Any advice from the forum about that?

[Minggat]

Originally Posted by gordonhinds

Seems like an incredibly good boat for the money. Perfect location. It will take a few months to sell given its cyclone season in Fiji. Put it on yacht world. Ask more and use a broker? Amazing boat super well equipped.

Thanks. Very kind.