I'm looking for some guidelines to help establish a value for an early 80's Ericson 38. For the most part, she is completely original; has had the bottom cleaned on a regular basis but hasn't been hauled for a very long time. I'm sure she needs new rigging, a new headsail for sure and not sure about the main. I think it's going to need some electrical and plumbing work. I don't think the engine starts, and even if it does, I'm sure it needs work.
I found one site (can't remember what it was now) that indicated the 'low retail' is around $28,000. This seems like a very steep price for a sailboat that needs so much work. Knowing that many items will need to be replaced before being able to actually enjoy sailing, it seems that half of this 'low retail' figure is more appropriate.
So, with that little bit said, how does one decide 'What is a fair price to pay?', and still being realistic and reasonable without being insulting?
Any feedback would be much appreciated.
I found one site (can't remember what it was now) that indicated the 'low retail' is around $28,000. This seems like a very steep price for a sailboat that needs so much work. Knowing that many items will need to be replaced before being able to actually enjoy sailing, it seems that half of this 'low retail' figure is more appropriate.
So, with that little bit said, how does one decide 'What is a fair price to pay?', and still being realistic and reasonable without being insulting?
Any feedback would be much appreciated.