What's a fair price? IP27

[Rockinar]

Looking first my first boat, and shopping IP27s.

What would you think a FAIR price for this one would be? I want to put an offer but dont want to get clobbered as a newbie. It seems everyone is asking $33K-$35ish no matter the condition or options.

Asking $35K.

https://www.yachtworld.com/boats/198...dard%20listing


It appears to be in good physical condition. Lots of newer electronics, bimini and dodger twords end of life. Engine hours getting up there. Sails I was told are good/excellent. Chainplate were redone and installed on the exterior which purist might have an issue with. I don't mind it at this point. Id rather have newer exterior mounted plates that I know are solid instead of factory interior that are still from 1988 and highly questionable.

[a64pilot]

I’ll get slammed for this I’m sure as some hate brokers, but find yourself a buyers broker and they can pull up sold boats data and see what the average IP27 sold for.
Now sold boats data is as accurate as the reports it receives of course, but I don’t know of a better way.
Asking and selling are sometimes way different numbers.

That boat you linked to appears to have external chain plates, I don’t think it came with those, I’d have a surveyor look hard at them, nothing wrong if they are strong enough, but it’s not as designed.

[Rockinar]

Originally Posted by a64pilot

I’ll get slammed for this I’m sure as some hate brokers, but find yourself a buyers broker and they can pull up sold boats data and see what the average IP27 sold for.
Now sold boats data is as accurate as the reports it receives of course, but I don’t know of a better way.
Asking and selling are sometimes way different numbers.

That boat you linked to appears to have external chain plates, I don’t think it came with those, I’d have a surveyor look hard at them, nothing wrong if they are strong enough, but it’s not as designed.

No problem with that. Do I just contact brokers in the Tampa area and ask if they will be a buyer broker?

Selling broker says "Available for co-brokerage on a 50/50 basis to FL licensed brokers." so they dont seem to have a problem with it.

[a64pilot]

Way I found one was by having different ones who showed me boats, when I found one that seemed knowledgeable and I liked, I asked them to be my buyers Broker.
I think most like that, cause they split the commission so they get paid the same as if they were selling the boat, if you don’t have a buyers broker then the sellers loves it as they keep the whole commission. But as a buyer having a Broker cost you nothing, it doesn’t increase the sales price of the boat, and in my opinion if you get a good one they will filter boats for you to look at, set up appts. And give you an honest informed opinion of what a boat is worth.
A lot of boats are sub par, and a Broker would know which ones are, which ones have been for sale forever, and which ones that the seller is motivated etc.

[Tillerjockey]

you can check the NADA for what these boats have sold for. You can also check out yachtworld and see what they are currently going for. It never hurts to lowball an offer. Just steel yourself and offer 50% of the asking price and see what happens. You might be pleasantly surprised. ALWAYS get a contract contingent on a survey and sea trial. It should be a very nice first boat for you.
Good Luck

[a64pilot]

NADA is a joke, nothing but a wreck will sell for that, and NADA is not sold prices, it’s their estimate.
Yachtworld is not what they sell for, it’s asking prices.
So one is high and one low.

[sailing_gal]

Whitacre Yacht Sales has a good reputation and lists quite a number of Island Packets, they know the boats. Correct, the chain plates are not original, they have been replaced, which is a good thing, whether you like the current position is a matter of taste. A good surveyor could tell you if there is an issue with their current placement. But, it is always a good idea to get a buyers broker to represent you. A broker can tell you what the actual selling price of recent listings were.

[a64pilot]

Or may well not be a matter of taste, assuming the smaller boats are similar to my 38, the hull is not very thick up top, it’s not required or be and if it were it would be excess weight up high.
Anyway I had our Aircraft Structural Engineer at work who’s is a very avid sailor and racer analyze the chain plate attachments on my IP, to begin with they way they are installed spreads the load of each individual plate over about 12 to 16 square foot of hull, but in his opinion the area that was loaded the highest was the hull to deck joint which in an IP is very strong, abnormally so.
So if an external plate is merely bolted to the hull and is using only the shear forces of the mounting bolts and the friction of those bolts being tight, the small area of the hull may not be up to the task if you get into a knock down situation.

These pics are where my chain plates were installed, you can see how the glass distributes the load, but also that piece of angle above the glass butts firmly into the hull to deck joint.


Around 2:40 in this video is where they are putting the chain plates in my boat. The rest of the video is of some other boat and I don’t know who the Woman is.
https://youtu.be/beuZV_xdQrk

[joelhemington]

Originally Posted by Rockinar

Looking first my first boat, and shopping IP27s.

What would you think a FAIR price for this one would be? I want to put an offer but dont want to get clobbered as a newbie. It seems everyone is asking $33K-$35ish no matter the condition or options.

Asking $35K.

https://www.yachtworld.com/boats/198...dard%20listing


It appears to be in good physical condition. Lots of newer electronics, bimini and dodger twords end of life. Engine hours getting up there. Sails I was told are good/excellent. Chainplate were redone and installed on the exterior which purist might have an issue with. I don't mind it at this point. Id rather have newer exterior mounted plates that I know are solid instead of factory interior that are still from 1988 and highly questionable.

The boat does appear to be in excellent shape - clearly the current owner has kept up on the maintenance. That said, you should definitely have a good surveyor look it over - no soft decks, compromised bulk heads or issues with the hull in my hmo are key as most everything else can fixed within a reasonable budget. I like the fact that is has a relatively shallow draft which would seem to be good for the ICW and Caribbean if that's what you plan to do given your location. 2,500 hours is nothing for a Yanmar that's been well maintained. Note that Ip's are very well respected and you'll be paying more for the name (great at resale time, but costly now). I'd say offer 30k if it all checks out. That's a fair offer given the asking price ( which are always at the high end of what the seller expects) Offering 50% might insult the guy as he's clearly done his due diligence on the maintenance.

[a64pilot]

See if I wanted the boat for $30, I wouldn’t offer a bit over $25 myself

[KTP]

Wow that is A LOT of stuff done recently to that IP27.

I feel sorry for the seller, having recently done a lot of work to my PSC34.

Just as a ballpark, I bet $30,000 has been put into that IP27 over the past 3 years and they are selling it for $35,000?

[Frankly]

Not much help on price, but from the pictures she looks well cared for.


As to the chain plate rework, most that opt for the external arrangement thru bolt to the internal old SS vertical tang. Typical failure point (but not always) is the tang just above the welded cross angle under the deck/ hull flange. Structurally that should be fine, but my only concern about this fix is I only see single connecting bolts. Considering the significance of failure, I would sleep better with two bolts per tang. "A pair and a spare is the motto of some guys I used to work with". Over the years, always seemed like a good approach when practical.


As to IPs , you can come for my wife (probably can't afford her), but you come for my IP you be a dead man.


Frankly

[Knotical]

I am not sure what a fair price for this IP27 is but I have to say it is very well maintained and equipped. If it interests you a lot you can offer 12-15% mark down (learned from many brokers during boat shopping in summer) on asking price and negotiate from there.

[a64pilot]

Call me negative because I am, but I’d be suspicious of why the new sole?
Quite a few IP’s are resurrected after being sunk at the dock etc, the residual value is high enough to warrant resurrection.
Plus I’m pretty sure that hour meter is not the original hour meter, I’d suspect the motor has that number of hours since the meter was replaced.
The hour meter on my 87 IP has a black ring, just like the volt meter does, they match, this one doesn’t.

[Virginia Lee]

This IP 26 is for sale at my marina in Titusville - reduced to $15,900. It's been restored by a friend who does that as a business/hobby. It's in good condition. https://www.sailboatlistings.com/view/81416