I just greatly discounted the price because I am unable to complete work on this boat this summer (a custody battle is keeping me in Colorado). The new motor has been dropped in, but controls need to be hooked up and the floor of the cockpit installed. The cockpit floor had to be removed to install the new motor, and the easy access provided is kept until the connects are completed. I estimate another $2-3k will finish the repair and have the boat ready to sail. This Out Island is in much better than average condition, with new main sail (still at the sail-makers shop, Omar's in Beaufort, NC, among the best), newly-installed rebuilt Perkins 4-108, gen-set removed, reconditioned, and re-installed, new bottom paint following blister-repair. This is a great, comfortable cruiser with a walk-through design. She appraised at $78,500 in 2003.
Compare with this 1977 Morgan: http://www.marinesource.com/boat_sales/morgan_41_morgan_out_island_4_2140880.html

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