Re: Terrifying Spencer 42' - Should I buy?
That IS a scary boat. I'm not one to shy away from a boatload of work, but that looks like it'd not be worth the price, at any price, if you actually wanted to go sailing in something any time soon.
I'm almost done a refit on a MUCH smaller fibreglass 28ft boat. Thing was completely gutted and re-done, and it's taken my fiancée and I practically every weekend, and most of our free weeknights over the past 14 months to get it to this point. We've done everything ourselves with guidance and assistance from others. If you intend to get her fixed up yourself, just keep in mind that it will take WAY longer than you think, and a lot more effort than you can imagine at the outset. We've also spent to this point about twice the purchase price on tools, materials, and equipment.
That being said, if you make it past all that, I'm sure the feeling will be amazing when its all done. (I'll let you know when I experience it for myself.)