Fair question.
In the end, after properly repairing a boat like this, some $5K to $10K and untold hours will be spent bringing a boat of unknown provenance back to life.
- The overall appearance of the boat suggests years of neglect.
- Take a look a the waterline. The staining suggests the boat has been partially submerged.
- The companion way boards. These are obviously in a poor state of repair and open.
- The interior is likely covered by mold and mildew because of the high moisture content due to the partial sinking.
- Any and all soft goods, like cushions, vinyl coverings, are ruined due to the moisture and mildew and mold.
- Bulkheads are likely rotted because of the partial flooding.
- Any interior trim is likely damaged from mildew and mold.
- The starboard side hull/deck joint has been damaged, notice the aluminum trim that is bent and missing near the chain plate.
- On a boat this old and neglected, it almost goes without saying all the running rigging needs to be replaced.
- Part of the starboard toe rail is missing. The rest looks to be in very rough shape.
- The standing rigging will probably need replacing.
- Even on older boats with solid GRP hulls the decks were cored with balsa or plywood because of the large flat expanses. I would be extremely surprised to find these decks to be dry. Thus large areas of the deck will need to be rebuilt.
If this was a classic boat, say a Pearson Ensign, a Cape Dory, an Allied Yachts built boat, then it might well be worth the money, time, and effort. These boats have a timeless beauty and still have followers. This boat is not one of those boats. A few years back, Paul Calder (Nigel's Son) restored a Cape Dory 28 that was in very rough condition. Some of his efforts were documented in Sail Magazine. For a small initial out lay and lots of blood, sweat, and treasure, he ended up with a well built, well designed classic boat. He was young and had access to resources many of us don't have. His efforts served him well.
If the OPs goal is to gain some experience with boat repair and restoration, a neglected day sailor in the 15-20 foot range would be a good start, especially if he can find one that still has an active class association. The O'Day Day Sailor, Flying Scot, and Lightening quickly come to mind as good starting points. There are lots of these boats in backyards and fields looking to avoid the landfill.
I agree 100% about a classic or a boat you want. It is stupid to spend the time and money for something that won't be worth it when done.
BUT I still stand on it is just not that expensive in dollars just time if the boat is all there when you start. I would much rather re-core a deck than replace running rigging. Fiberglass is just really cheap. I have about $3,500 in my Dehler including a new fully battened main sail($2,000). Other than the main most of the dollars are for buying tinned copper wire.(That stuff is expensive). Soft goods are cheap if you sew them yourself (Weirdly I really enjoy sewing). Standing rigging and running rigging are not cheap. That is why I asked about an inspection. Most people look at the cosmetic and not the expensive stuff.
I understand that time is money but fabricating things is my hobby if I wasn't in the shop building something it would be more expensive to pay a therapist. I am recovering from Covid right now and it is driving me crazy. I tried to lay up 2 foam/plywood 2.5" spacers for the lids that close across the stern of the Mega yesterday. Usually a few hours work but I was coughing so bad I finally had to go back inside. I can't stand to watch anymore TV! This is also why I am on the forums when I usually I am not and my wife says I am really grumpy so if I come across as contrary let's blame it on Covid
JJ