Ok, let me try to start over. #1 I am not interested in a project boat. I want something that is ready to fish and will not break apart when I'm 70 miles offshore. #2 For the same money this guy is asking, I'd be able to find a late 80's early 90's vintage Albemarle 24 cuddy. This would take a long time because theyr'e so rare.
I guess what I'm trying to do is estimate the probability that the hull is rotten. If there is a 50% chance that the hull is rotten and therefore only worth say $8000 to me and there is a 50% chance that the hull is fine and therefore worth the full $22,500, that means the estimated value of the boat for me is only $15,250. Changing the above assumptions dramatically effects what I'd pay for the boat. An 80% chance of a rotten hull makes the boat only worth $10,900. Or if the boat with a rooten hull is only worth $4000 and we're back to the 50-50 chance of being rotten it's worth $13,250. Should I just price the baot ASSUMING the hull IS rotten? The guy selling it is obviously not pricing it this way.
The reason I am posting to this site is that I am hoping that some among you might know how long these boats generally last and also what might be an appropriate price for a boat with the above specifications. Here, take a look at it
http://adcache.boattraderonline.com/6/7/4/46551974.htm
Thanks for the interest. Kepp the comments coming!
-Brad