Re: 1977 bayliner buccaneer
You don't say which model you own and the avatar picture is too small to see. There are huge differences in build quality and design quality between the various models of this era. As the name implies, the Bayliner Buccaneers were sailboats built by a 'value oriented' powerboat company to offset diminished powerboat sales during the 1970's era fuel crisis. Boats like the 210, 240, 270, 275, 280, 305, 320, and 325, were really crummy designs that sailed poorly and were really badly built. But almost at the same time, Bucanneer bought the tooling for a range of very nice little boats that sailed well, and generally seemed to be better constructed than the boats mentioned above. These included the 220, 250, 255, 272, 277, 295, and 335.
If you have a 210, 240, 270, 275, 280, 305, 320, and 325, they are okay as a cheap live aboard, but not worth investing in if you plan to sail the boat. While the other Buccaneers were better built and sail much better, they were not the most robustly constructed design and so a a grounding like you describe could would have probably done a lot of damage, some visible some hidden. Frankly the cost to repair the boat sounds like several times what it would be worth. Given your experience level, if you have a 220, 250, 255, 272, 277, 295, or 335, and are inclined to repair the boat, I would strongly suggest that you have a surveyor to fully evaluate the extent of the damage and probable costs to repair. If you have 210, 240, 270, 275, 280, 305, 320, and 325 I would probably not bother to start the repair process since you are describing damage that is far more than several times as costly to repair than the boat will ever be worth. I would suggest that you instead use the repair money to buy a better boat.
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Curmudgeon at Large- and rhinestone in the rough, sailing my Farr 11.6 on the Chesapeake Bay