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Old 06-26-2012
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Re: Refurbish or scrap?

scrap lead is selling anywhere from $.40- $.70 per lb.
Right now, you're about break-even.

I'm not a big fan of adopting an abandoned project. You often spend more time redoing badly done, abandoned or half-finished work than before proceeding you're starting behind the starting line so to speak. An untouched derelict is often a better proposition.

Having said that, you've already got this boat. So, here's what I would do to test whether it is worth the time and effort to save it or scrap it. Take a screwdriver and start poking at the stringers and frames in the bilge and at the bottom of the bulkheads. Poke around the mast step. If you find more than three soft spots, stop, get up, walk away.
An O/B powered Newport 27 is a $5K boat in the real world today. If you need to rebuild the mast step, tab in new bukheads and remove and replace stringers, before you even get to wiring and cosmetics and the hull and rig, you won't be sailing for a while and you'll quickly be upside down in materials.
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