I just acquired a '61 Cal 30 for "free" (more just paying for the taxes to get her registered and tagged in my name as salvor). I need an engine for mine and need to rewire her. It needs new steering and some much needed painting, maintenance and interior decor work. All in all she's pretty sound and has LOTS of teek. I just saw online a Cal 30 of the same vintage going for $30,000.
Sailboats are a real toss-up when it comes to the market vs "sweat equity." by the time you would have all the work done to her to make her a seaworth vessel again, you could have bought three boats of comparable value. However, it really matters where your heart lies. If you have the time to invest your blood sweat and tears, and of course the money, you can save yourself thousands by doing the work yourself.
I have restored an AMI 7.5 fractional sloop and it took me two years to get her in the water. The sacrifice was definitely worth it, but I also own a Ranger 20, so I was already sailing while working on the larger vessel. The Cal 30 is my third vessel, and will be my live aboard sometime next spring, once I have made her livable again.
Good luck with the Catalina, if you procurred it. You will have an easier time finding parts for it, as Cal 30s and other such Jensen Marine vessels are hard to find replacement parts (factory) and you need to be a bit more inventive to make the modifications to modernize them.
But on the other hand, I LOVE the lines
of the Cal 30. They are a beautifully configured and designed vessel, and have that early fiberglass sailboat charm as you see with 1950s and 60s designs.
PS. A 1969 Cal 2-30 would be the model of that vessel if the year is right. If it was a Cal 30, it is an every increasingly rare find, as only 123 of them were manufactured between 1961 and 1967.