1988 Island Gypsy 40ft Great Loop Cruiser
Make: Island Gypsy 40ft Great Loop Cruiser
Type: 2 Stateroom Vast InteriorDual Diesel Power Cruiser
Primary Fuel Type:
For Sale By:
Hull ID Number:
Condition is as you see in the photos. Vessel was acquired for past due slip rent after prior owner fell on hard times and became more than a year past due on dockage rent. Twin inboard diesel engines. We dont know anything about this vessel other than it came to the marina under its own power with working motors when it arrived several years ago. Sold as is. Engines may run with minor re-commissioning service or may require additional service. We have no idea. Sold As Is. This is your opportunity to acquire a boat and bring it back to life for literal pennies on the dollar. The two sisterships listed on Yachtworld of other Island Gypsy 40s are listed at 62K and 168K respectively. These are high dollar classic Great Loop cruisers with a reputation for quality construction & amazing interior comfort. As you can see interior of this one is not perfect but fairly nice overall. Certainly in better condition than most any other Island Gypsy models you will find listed for less than 60K US. TRYING TO BUY TWICE THE BOAT YOUR BUDGET CAN AFFORD? NEED TO SELL RIGHT AWAY NO MATTER THE PRICE? GIVE US A CALL! HALF PRICE YACHTS (970) 319-6408 At Half Price Yachts we specialize in helping normal people achieve exceptional purchasing power. We help boat buyers embrace an exceptional lifestyle that normally might be beyond their financial comfort zone. We help boat owners become boat sellers when they dont want to spend another two years of slip fees and maintenance costs waiting for a full price offer. If you want to join the yachting lifestyle or perhaps to make an upgrade in length or quality from your existing yacht, but without paying full price, we are Americas connection to affordable vessels that need a bit of TLC and elbow grease investment in exchange for savings of tens of thousands of dollars off fair retail market pricing for the same vessel in turn-key condition. Nearly every vessel we sell has some amount of elbow grease savings built into its situation. Usually this also comes with a backstory. We specialize in yachts whose former owners fell on hard times for whatever reason (divorces, estate sales, back surgery…all sorts of crazy stories). Or sometimes they simply became too busy with work or had a spouse that insists that its time to sell the boat for whatever price it can fetch on a quick sale, as a compromise toward buying that new beach condo. Every vessel has a story. The one criteria we have in picking which boats we either purchase to re-sell or boats we represent, is that with a little investment of sweat equity and a few bucks, a buyer will have the opportunity to acquire a vessel for half the price of what every other vessel of that make, year and model sells for through a traditional yacht listing service or yacht brokerage. If you want a 50% off deal youve found your connection to make that possible. Whether you want to acquire a million dollar yacht for a mere 500K or to obtain a $200,000 global cruiser for a mere hundred thousand or a real classic FIXER-UPPER for a mere ten thousand, with a fair market value of twenty thousand in its current project status…you have come to the right place. Our team has a combined 45 plus years of experience in the used yacht marketplace in the United States and Internationally, and through our carefully cultivated network of connections we are the first folks who get an opportunity to list vessels anywhere in the US or globally that are able to be acquired for half off their fair market value. We have vessels at all stages of the acquisition and representation stage all across the US and in your favorite cruising grounds. If you have a vessel you wish to sell quickly and easily and you are willing to accept only 50% of its fair market value, give us a call and we will put it on our fast-track to connect your vessel with one of our eager buyers who are ready to drop quick cash to save 50% or more. If you are in the market to buy a particular type of yacht and you know that the boat you really want will likely cost fair market twice what you can afford to spend, give us a call 9-5 M-F (ET) and perhaps we will already have an inside track on just such a vessel with the sort of deep discount that will align your modest budget with your exceptional dreams. Half Price Yachts (970) 319 6408 Vessel Owner Responsibilities and Safe Use Agreement By placing a legally binding bid to participate in one of our online auction sales or in making an agreement to purchase a vessel through Half Price Yachts, you willingly agree to participate according to the terms of purchase as described above and below. Your participation in this transaction constitutes a legal contract to perform certain duties of vessel ownership and safe use according to your voluntary participation in this vessel acquisition contract. Some vessels may stay where they are with a signed slip rental or land storage agreement and others must be moved within a short time frame. Refer to the other details listed in the vessel description and assume that whatever the shortest time frame listed in the description is the one that applies to this particular vessel. If you have questions you may call 970 319 6408. Purchasing and owning a marine vessel involves liabilities and obligations of boat ownership. Neglecting to perform these duties of safe and responsible boat ownership likewise can terminate your rights to ownership. In making your purchase you agree to perform the following actions: Within 30 days receipt of boat ownership papers you agree to complete application to transfer vessel ownership into your name or into the name of your chosen business or individually designated owner via state registration or USCG Certificate or official vessel document of other nation or territory. You agree to take physical possession of said vessel and transfer dockage contract or mooring agreement with the marina or boatyard into your name and thus assume responsibility for vessel storage charges. If vessel is not located at a marina or boatyard, you agree to take physical possession of the vessel via moving it by water or via boat trailer or other means to a location where you will be the responsible party for vessel maintenance and storage. Be aware that certain marinas and boatyards will require liability insurance in order to receive your vessel, and obtaining liability insurance for your vessel is your responsibility as an owner as part and parcel of the requirements of vessel safe use if your vessel is located at a boatyard or marina that requires such insurance. You agree not to operate said vessel upon public waterways of the United States or in the national waters of any other nation without first legally transferring ownership into your own name or the name of your represented entity of ownership. To operate the vessel in public waters under the registration number or Certificate of Documentation number of a previous owner causes liability to fall upon previous owner for any of your negligence in vessel anchoring or operations. Such illegal use under a prior owners name constitutes a violation of your ownership contract and may result in vessel impoundment by Coast Guard, DNR police, previous owner, or other agency with responsibility to ensure safe and legal vessel use. In making a purchase from Half Price Yachts, you agree to the above terms of safe and responsible marine vessel use. In the event that you do not perform these duties of safe and legal vessel use and instead leave the vessel abandoned at a marina or boatyard without paying your marina or boatyard storage, and if slip rent or vessel storage fees become more than 60 days past due, you agree to empower Half Price Yachts with the legal right to seize the vessel, settle your outstanding storage debts, and either dispose of or re-sell said vessel upon bill of sale terms to a vessel disposal company or another buyer. Note to buyers This sounds like a harsh clause, and yet many of the marinas and boatyards we deal with are often left with vessels that fall into uncertain gray zones where a past owner purchases a vessel and then falls upon hard times and allows slip rental payments to fall behind to the point where they cannot afford to pay their vessel storage current. This is very similar to renting a storage unit and then neglecting to pay the bill. Like a storage unit (as seen in the TV show Storage Wars your vessel may be seized and re-sold for scrap value if you do not pay your slip rent or storage fees for more than 60 days. If you wish to avoid losing the right to continued ownership, it is important that you either pay your vessel storage at its current location. Do not let such storage fees become more than 60 days past due. In the event that you find it becomes financially inconvenient to maintain your vessel storage payments current, it is your responsibility to settle past due amounts with the boatyard or marina and then sail or motor the vessel to a legal anchorage or otherwise re-locate the vessel to a backyard storage or Boat/RV storage facility or hire a boat mover, delivery captain, vessel tow captain or exercise any other vessel storage option available to you in order to take possession and responsibility of your vessel. By moving the vessel to a location under your own management and control and by placing your own registration numbers and registration stickers on the bow or by Coast Guard Documenting the vessel and listing the USCG documentation number in the appropriate location inside the vessel cabin, you will neutralize any risk of your vessel being re-possessed and foreclosed by Half Price Yachts for failure to pay slip or storage fees. By paying for your vessel and taking ownership you hereby agree to perform these contractual duties. You understand that if you do not perform these duties and responsibilities of safe and legal vessel ownership, you are voluntarily waiving your rights to vessel ownership and you are granting Half Price Yachts legal right to foreclose upon your vessel and deal with these responsibilities in your stead. In the event that Half Price Vessels does not re-possess any abandoned vessel, you are still the responsible party for such vessel even beyond 60 days. Vessels must be legally registered and legally docked, anchored or kept on trailer or jack-stands at a location that is under your management and oversight. Leaving a vessel anchored and abandoned in a public anchorage with no-one to monitor the status of it, does subject your vessel to seizure. However, if USCG or state marine agencies or Half Price Yachts choose not to seize said vessel for unsafe abandonment, you are still the legally responsible party and damages caused by said vessel dragging anchor or damaging other vessels or property or the natural environment due to fuel leakage or dragging and collision with corals, sensitive sea grass, docks, vessels or other real estate or public or private land or property are the sole liability of the vessels most recent owner of record. This is why transfer of vessel ownership is required within 30 days from receipt of vessel papers and why you may forfeit ownership rights if you abandon your vessel, anchor it illegally or neglect to pay your slip or storage fees. Boat ownership and the use of public waters is no different than parking a car upon a public street. If you leave it abandoned beyond the legal and acceptable posted parking or anchoring limits your vessel or automobile may be seized and you will forfeit your ownership rights or be required to pay fees to retrieve your property. $1000 deposit is not refundable and due right after the auction closes. Remaining balance is due within 24 hours by Zelle, Cash App, cash in hand, cashiers check or personal check (once cleared–for an in person closing) or via direct bank transfer to our Wells Fargo business account if you do not use any of the financial apps mentioned above. IF A BOAT INSPECTION IS NECESSARY FOR YOU TO FEEL CONFIDENT ABOUT COMMITTING TO A PURCHASE PLEASE CALL TO ARRANGE A BOAT INSPECTION PRIOR TO PLACING YOUR BID. YOUR BID IS A LEGALLY BINDING CONTRACT TO PURCHASE THIS VESSEL IN AS IS CONDITION. PLEASE SCHEDULE YOUR BOAT INSPECTION PRIOR TO PLACING YOUR BID IF THAT IS A CRITERIA FOR YOUR DECISION MAKING PROCESS. Half Price Yachts 970 319 6408 If you are the high bidder at the close of the auction please call right after auction closes to discuss the details of the transaction & tell us what name/ address you want on the Bill of Sale. 970 319-6408 CLEAR OWNERSHIP PAPERS. If you want to call and discuss your cruising or cruising plans and dreams and whether or not this boat might actually work to suit your needs we will be happy to speak with you and give you my honest opinion about the feasibility of your plans and whether this vessel might or might not work for you. Feel free to call and chat. MOVING A BIG YACHT WITH A BOAT MOVER CAN BE VERY EXPENSIVE. OFTEN $4 OR MORE PER MILE. WE ARE HAPPY TO HELP YOU UNDERSTAND THE OPTIONS IN THAT REGARD IF YOU WANT TO GIVE US A CALL. By far the most affordable way to move a boat is by water, so please consider whether your location is accessible to move the boat by water or whether you will need to pay the higher cost of having it moved by truck and trailer. Also consider the time it will take to prepare for a voyage and whether your sailing skills or those of friends or other sailors you might find through the yacht crew websites are at the level necessary to make a safe voyage from the ocean where the boat is located to your home port. NOW IF YOU AREN’T YET TIRED OF READING, HERE ARE A FEW INSIGHTS TO SHARE ABOUT BUYING BOATS AND CHOOSING THE RIGHT BOAT FOR OCEAN FISHING OR LIVE-ABOARD CRUISING FROM ONE OF OUR FOUNDING PARTNERS: Our passion is to assist folks who are making a transition from day sailing or coastal cruising to becoming full-time live-aboard world cruisers. We also assist new sailors or boaters who are just getting into the sport of yachting by advising them on how to develop their skills and how to make plans to pursue the dream of cruising and world traveling full-time. We have extensive contacts and resources for finding good world cruising boats, fishing boats and pleasure yachts at far below their fair market value, and occasionally we discover an amazing neglected vessel at a price that we know may enable a cruising family or a retired couple on fixed income the ability to pursue the dream of cruising without the sort of means and savings normally associated with pursuing this lifestyle. In those cases, like this boat, we work to try and find a new home for a good below market value boat, with people who will fully restore the vessel, and hopefully use it for the serious cruising that the boat was designed for. There are many aspects of life where experience really matters, but none so much as global cruising or offshore fishing. When you are planning to take a small boat across vast oceans and visit foreign ports of call on your own terms you must truly learn to become Master’s of your Own Destiny. It doesn’t matter how wealthy you are or how talented you are at managing large organizations or companies with dozens of staff people. When you are on a boat in the middle of the ocean, the choices you have made, the choices you will make and your own internal skills and the undeniable truth of how well or poorly you have planned for your expedition, are the factors that will determine whether your experiences become a positive adventure or a frightening (or even life threatening) catastrophe. When you are looking at a boat parked peacefully at a dock or on jack stands at a boat yard, you will be tempted to judge it based on whether the lines are nice and whether it is pretty or ugly and whether it is new or old and well kept or run down. The ocean however, operates according to immutable laws of physics. The ocean does not care whether it sinks a pretty boat or keeps an ugly one floating. It does not care whether you are a skilled sailor with dozens or years experience under your shade hat or whether you are an amateur on your first weekend pleasure cruise. You will be served exactly the same conditions of wind and waves whether you were born wealthy or if you were raised in a cave by baboons. The only control you have over these situations is knowing when to sail and when not to sail, and you can prepare yourself so that when the wrong situation strikes, if it ever does, you are skilled and prepared to deal with it and have a vessel that is prepared to handle the same. For people who are wanting to go cruising full-time, or who want to go from being pleasure sailors to competent seamen and seawomen, choosing the right boat is the first and sometimes ultimately most important decision of their nautical lives. Of course you can always sell or trade a boat and then buy a different one, but still the choice of each boat will influence the experiences you have and it will determine in many ways the capabilities or limitations of what you can or can’t do while you have that boat for your homeeven if it is only home for a few weekends here and there. There are many nuances and subtleties to sailing and power yachting, as well as to each individual vessel. A boat that may be just exactly perfect for one sailor or family of sailors, may be completely the wrong boat to suit another person’s dreams. By nature, boats require a lot of maintenance and upgrades, and if you are someone who wants all the possible bells and whistles, boating can be a very expensive occupation. However, there are also ways to save a lot of money and still pursue the dream effectively and safely and create a new floating paradise for yourself. But each person or each couple’s needs are different. There is no such boat as a boat that is not a project boat. A cruiser friend I know well (a relatively wealthy man at the time) purchased a brand new 46 footy yacht for his family to live on for years and to cruise the world on, the first thing he did to a brand new half million dollar boat was to spend another $27K on equipment upgrades, new electronics installations and custom modifications. No boat, no matter how shiny and brand new, is exactly right for everyone’s individual tastes and needs, and no boat comes straight from the factory completely ready to do anything other than Wednesday afternoon beer can races or weekend pleasure cruising. I often get asked by people who are shopping for a used boat to go cruising the world, Is this boat ready to cross the Atlantic? or Does it need anything before it is ‘Ready to Sail. The very nature of that question is a showcase of their naivety. Even if the answer were Yes, the boat is ready. (which would be impossible to have any boat ready unless you have spent thousands of dollars on a cruising chandlery and provisioning service ahead of time) the greater question is Are such ignorant sailors who need to ask such questions ready themselves? Even if they had the absolutely perfect boat, prepared ahead of time by die-hard professionals to get it ready to cast off the lines and sail to points distant and exotic, would the sailors know where everything is at on the boat and how to operate those systems and how not to break them with ignorant mistakes or how to fix them once broken? And if they knew all those things, would the boat be equipped with the necessary repair tools and supplies as part of the process of getting it ready to sail? So all these are big questions, and the only easy answer is that any sailor must become intimately familiar with their vessel prior to making long voyages beyond sight of land. The easiest way to become familiar with a boat so that it is not a stranger but rather a trusted old friend is to do a lot of weekend coastal cruising with it, while you work all the bugs out. Also, the more projects and upgrades you do yourself the more familiar you will be with how they work, how to maintain them and how to fix them again if anything every goes wrong. To depend on the expertise of professionals left behind in a port in a distant country you cleared out of months ago is only to invite future disaster…and its also much harder on the wallet. So any time you can add to your own skills and knowledge of your own boat by doing your own work, or hiring a professional to help you do it yourself, you are preparing yourself for future success as a cruiser. Any boat, even a brand new boat, will have things about it that you want to change or upgrade or move or install prior to making long voyages. The better questions to ask are: What is the proper amount of maintenance and upgrades that I will make to my vessel prior to setting sail? How many things need to be changed or fixed before I leave the continental US? How many projects will I work on, as little projects along the way, when I have a slow day at a boring anchorage and there are no cruiser parties to attend and no interesting conversations of the side channels of the VHF? How many projects are absolutely vital to get accomplished before I begin actively using the boat as a full time residence and a floating RV that can sail to any country with a coastline? How many projects do I want to tackle myself if it means I can save literally tens of thousands of dollars on the purchase price of a boat, and how much more ultimate value do I get for my money by buying a larger or more seaworthy boat with a few bigger projects to tackle than if I buy a smaller or more flimsy boat that is cleaned up nicer and has fewer problems to address? Remember the ultimate cosmic law of boating even if you can’t see any problems at all with a boat, and no projects needing doing, as soon as you own it and begin to sail it, you will start to find those quirks and bugs. So don’t fool yourself into believing that you can simply buy a shiny new boat from a broker at full market value, or even by paying more than boat blue book value, to avoid ever having to make repairs or upgrades. Any experienced sailor or boating professional other than someone selling fancy new boats will admit to you that there is no such boat other than a project boat. The only question is What are the projects and how much money will I save by doing them myself versus hiring someone else to complete them? Every boat that I have ever bought or ever sold, which is now many dozens of them, had varying degrees of things needing to be improved about it. Even the brand new boats straight from the showroom floor or boat show sales dock will need bottom painting and new zincs and fuel cleansing treatments and oil changes and manifold and riser inspections within a matter or months of casual weekend use. The longer any boat sits without the proper level of loving regular maintenance the faster it will deteriorate, and tiny 15 minute projects will turn into hour-long projects and hour-long projects will turn into day-long or week-long projects due to continuing neglect. The quality of the build is also important. A cheap boat will have cheap boat problems, and it will have serious issues far faster and more frequently than a very well built boat from an esteemed yacht designer and builder even if the better boat looks worse initially. In many ways you are better off to buy an older and more well regarded vessel in worse first impressions condition than to buy a shiny and well kept cheaper new boat. In the long run the better boat will cause far fewer headaches once you have it restored fully and you are taking care of it yourself, whereas the cheap but glossy boat may still look new and shiny for years, but begin having serious and costly problems that cannot be seen even while it still looks great in Facebook boat pictures. Boating is like riding a horse or driving a high performance sports car. You always have to be involved in the life of your boat whether you use it frequently or not. But this is not a bad thing, because it is part of the pride of ownership, and the regular maintenance and upkeep and small projects is what enables you to avoid the big ones or to at least know which big ones you need to do sooner and which ones can wait till later. Having realistic expectations and entering these boating decisions thoughtfully, considering your many choices on the front end will help you to achieve your dreams in a practical and realistic way without surprises. Standard Legal Disclaimer – Vessels are sold “As Is” with no warranty either express or implied. The Company listing this vessel for sale offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.