The other part of the above examples is that even if you pay the 120k for the new boat, in ten years of use it will need a refit so you have to add that to the original cost as well.
Time away from family, time away from work/business, time away from sailing and enjoying the boat with the family.
To great points.
It would be great of all boat projects could be done on days that sailing was not possible. Like posting on a sailing blog for example.
Sadly many boat projects need to be done on nice days.