Unless the boat is historically important and can garner the support of a group of people, there's no real reason to go for a boat that is beyond economical repair. Why for instance would you buy a wooden boat that needs the whole hull replacing?
Here's an example:
This is a boat that looks to have been left outside unprotected for decades. Look at how the mast has weathered. No windows and an open companionway means the interior is just as open to the elements as the exterior. At the front there's evidence of panels having sprung or at the very least moved, cracking the paintwork. Judging by the position, the bottom of the boat is in contact with the damp soil underneath. All recipes for a rotten hull. There are bushes growing through it.
At the rear the cockpit and deck have lost any sort of weatherproofing and would appear to be rotten. The transom appears to be parting from the rest of the hull.
This is advertised as "For Restoration" a more apt description is "For Bonfire". Currently there are quite rightly 0 bids at the £100 start price.
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