In this case the mast was down and looking at it the conclusion that came to mind is a new mast/rig would be a more than prudent choice.
The engine needed replacing and what systems remained were simply dumpster fodder...
On the other hand, the hull and deck, while cosmetically NASTY, were still in good shape.
In short, a total wreck or a hull and deck waiting to be turned back into a boat!
I was actually considering buying this boat by the way...
Something to keep in mind is that just in lead scrap value the boat was worth nearly $5000.
My thought process went something like this: Gut the interior and soda blast it before replacing the bulkheads/interior and sort out a new keel set mast step for a free standing junk or balanced lug rig.
Sort out the exterior cosmetics, build an outboard well, and fit it out for cruising then sell it for a reasonable profit. When the dust settled I expected to be out of pocket between $9-10K which, I think most would agree is not a bad total for a kick ass cruising boat in like new condition...
The problem was I just did not have the time (3-4 months of full time work) to devote to a project like that in the current time frame.
That said, I'm still keeping my eye out for a reasonable facsimile project boat...
