On the plus side she looks fair with no bondo. You can't see the frames. That speaks of good welding.
First and foremost one would have to look at
interior hull finish, that's where they rust.
We looked at a similar Colvin in
Florida, that was only 10 gage
steel, pretty darn light.
But, all said and done I would think that at best the
hull is worth maybe 20% of the finished
boat cost.
I'm thinking $10 - $15 thousand more reasonable.
Here is another big
steel schooner. More reasonably priced for the level of outfit. FWIW, this also says 10 gage hull, but I don't believe it. Or the
displacement.
http://www.yachtworld.com/core/listi...g_id=1628&url=