You are of course absolutely right about that. That Irwin looks sweet..
My problem is that unless someone has replaced everything big: Engine, wiring, tanks, plumbing, thru-hulls, bottom barrier coat, canvas, sails, Air etc. standing rigging, chain-plates etc. I see an older boat as a musical chair event.
What I mean is that you have components that are 5 to 30 years old. At the moment you buy the boat the survey says it is all working. If you can sail the boat for a couple years, not put too much money into it you can sell for about what you paid for.
But the odds being what they are something will have to go.
That is fine if it a weekend boat.
- I wouldn't be using it that much so maybe nothing will break.
- I'm in my home waters where I know where the rocks are and know the people that can fix what I break.
- I have the money to pay them and I have a garage full of tools and parts.
- I might plan on keeping the boat for 10 years or more so any repairs or upgrades are amortized over a long period of time.
If however I'm retired and cruising for a few years I'm not sure I want to be the guy left standing when the music stops in some strange town or country.
Your right though. If I could find a 30+ year old boat that someone bought for 100,000 and put another 100k into to make it effectively a new boat I would be sorely tempted. The reason is that I could probably buy that boat for 110k because every dollar you put into an old boat becomes worth 10 cents. Those deals are rare however and I may not be willing to spend the time waiting and money traveling to discover it. But if it happens sure thing.
If that Irwin for example has a 30+ year old engine rebuilt 10 years ago, original tanks, electrical and plumbing I just don't have the confidence to assume that risk.
So that is why I'm exploring the possibility of doing my trip in a newer albeit more coastal boat.