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There seems to be some confusion. There are two entirely different boats called a CT 38. One is designed by Warwick and is, in general similar to the Swan with a narrowish fin keel. This is the one the OP is talking about.
The other is the one that other posters are talking about
Given that the two boats are similar I would imagine the Swan is going to faster for two reasons - it is bigger and it is a very successful S&S design. The Swan build quality is certainly going to be superior. When both were new, the Swan would have definitely been a much better, much more expensive boat (not just because of size).
My concern would be about the teak decks - can cost tens of thousands to fix and teak decks of the age of these boats either have been fixed or need to be. The companionway is not the newer design where it is purchased in the middle of the deck several feet from the cockpit. The newer Swans did this to allow an aft cabin - we looked at a Holland-designed 43 and could not figure how to make the deck arrangement for extended cruising. Both of these boats have conventional companionways.
Everything else being equal, and it never is, I would go for the Swan except the 7' draft could be a problem in some places and the Admiral would never go for a boat without a 'proper bed'. I guess you could convert the forward cabin from sails to living. There are six good sea berths and some of them could become storage.
The other is the one that other posters are talking about
Given that the two boats are similar I would imagine the Swan is going to faster for two reasons - it is bigger and it is a very successful S&S design. The Swan build quality is certainly going to be superior. When both were new, the Swan would have definitely been a much better, much more expensive boat (not just because of size).
My concern would be about the teak decks - can cost tens of thousands to fix and teak decks of the age of these boats either have been fixed or need to be. The companionway is not the newer design where it is purchased in the middle of the deck several feet from the cockpit. The newer Swans did this to allow an aft cabin - we looked at a Holland-designed 43 and could not figure how to make the deck arrangement for extended cruising. Both of these boats have conventional companionways.
Everything else being equal, and it never is, I would go for the Swan except the 7' draft could be a problem in some places and the Admiral would never go for a boat without a 'proper bed'. I guess you could convert the forward cabin from sails to living. There are six good sea berths and some of them could become storage.