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Apparently, the PO put two anodes on the aluminum rudder, and there is (not clear on this yet) a hole or just some corrosion that has been previously faired by the CO. This repair has come off, and he said it lasted 10 years (the repair).
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Aluminum rudder...Buying aluminum to remake/replace this will run about $400.00. Then there's labour. Let's figure a minimum of $750.00
Rudder is out of the boat.
Guranteed pooched by now - 40 years old. Figure a minimum of $2,000.00 to buy the absolutely necessary pieces.
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Bunch of sails I have not seen supposedly "good condition",
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In good condition they could last another 15 years. If you need to replace them figure a minimum of $5,000.00 for a main and a genoa.
If this is in the main bulkhead you are looking at about 3 to 4 thousand to fix it yourself - materials will not be that expensive but taking the boat out of the water, removing hardware, bracing the hull, painting, and launching again costs money. Probably about 6 to 7 if it's a yard bill.
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Needs paint apparently, but is on the beach.
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WHat do you mean on the beach ??? Lying on the beach ??? At this point they should be paying you to take it away.
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Thinking of picking it up with my brothers and father, putting in some work to paint the hull quickly,
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It will not be quick. You are talking about a refit that will cost many thousands of dollars and take months - that's just to get it to the point where it is safe to sail.
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and then sail and repair, sail and repair.
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that is what we all do, and that is when we have started with boats in good shape
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But I won't see it until Saturday. I am cool with epoxy work, but not sure how to assess the condition of a very old hull and deck.
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Cough up the money for a surveyor if you are not able to find a knowledgeable local. I bet you will be surprised to find out how much it can cost to get a boat back into decent shape.
Far, far better off to buy something that has a rudder, no rot, and rigging that is not 40 years old.
Good Luck !