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Bombay went out of business in the late 70's and is best known for its' Clipper and Express models which I believe became the hull molds for the original Island Packet yachts. Don't know anything about the Explorer but it looks to be a much different and more racer/cruiser oriented boat than the better known models. Pehaps Jeff_H could tell you more.
If the pictures and description truly reflect the condition and upkeep of the boat, she looks to be well worth a closer look!
 
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