Wanted to let you all know that I went up to Portsmouth yesterday to see the boat, thanks to all of you for your comments, which helped frame how I looked at it. Yesterday re-enforced the fact that there is only so much you can tell from a digital listing. In some ways she looked better than expected, in some ways worse.
- She definitely needs to be taken down to bare metal and then properly re-painted, but the hull was actually in much better condition than topsides, which had a lot of peeling and flaking.
- The owner sailed her for about 3 weeks last summer, but she has only 350 hours on the engine, 750 hours on the generator. Pending a survey, I would lean towards keeping the engine, especially if it is possible to insulate it better, since I think, like many CATS, it is loud. As at least one of you mentioned, engine access is not great, and the space is not very well lit, but on the other hand it seemed very well laid-out, installed and labelled.
- the owner has taken the dinghy, which I believe was a Whaler, so that needs replacing.
- there is no railing around the after section of the bridge deck, which I would do, since it is not safe.
- the upper helm station controls probably needs to be replaced, some items have been removed.
- there is no FB canvas, another item to consider.
There are also some cosmetic items, like pilothouse headliner and day head, but I could probably do those over time, doesn't affect operation or safety.
Once I have some ball-park numbers for the above work, I can come up with an offering price, subject to survey and sea trial. However, the broker already told me that he tried to get the owner to list her at a lower price, but the owner said "she is worth much more than this"- which every owner probably thinks - and he may not be very open to negotiating. The fact that the boat has been on and off the market for so long is likely a confirmation of that point.
I did like the boat overall, and the single-cabin layout would really suit my wife and I, but if I had to make a bet I think I will need to keep looking.