Buying first boat - what''''s it worth
Lugers were kit boats. Most of the smaller ones that I have seen were pretty poorly finished. The workmanship from the factory was OK, not great but not terrible either. The problem was that these boats were heavily dependent on the skills of the amatuer builders who finished them. Given the higher quality kits that were out there at the time, Lugers were typically bought by new sailors who often really did not know what was considered a proper job of things.
When you say this boat is gutted that means that the structural bulkheads are possibly missing. While there is a lot of stuff with this boat, it is still a big project and as such the boat has little value, especially when you can usually find better boats in nice shape for the same $2,000 or so asking price.