Hi Sean
I've lost touch on what a Mk1 is worth ,yet if I was looking for one I would pay no more than $10.000 or less for an average one in this economic environment .Maybe $14-$15000 for a good one with an inboard not including any special gear.The one you looked at ,and what I've seen on the web I would give no more than $10000 for.Sellers seem to forget these yachts are hitting 40 years of age and a good percentage of these were amateur built and not very good at that.maybe you ask some of these sellers why they think their yacht is worth what they are asking ? I know one thing they will tell you and that's their a seaworthy classic and so on.
When I bought Egret II 16 plus years ago for $9000 she was a sad case. She hadn't been off her mooring at Manly for over 18 months or so and I used to see her while racing my 16 foot skiff out of Middle Harbour. The 1st winter I slipped her I removed all the antifouling from her bottom and 6" above the waterline wet and dried etc and polished her, took all the deck fittings off and windows out and resealed for summer. The following winter I removed the mast ,the next winter new gunwales and so on . Apart from the die sel
motor I've spent about $4000 on Egret II that includes sikaflex metal threads etc.Egret II s gear is original and her main is starting to show it's age .Apart from that she looks OK .
Where I have been fortunate is the use of a private slips ,yet like I've said before if I didn't ,I would have taken her home for a year and done it that way.Again only if I had room ,and I do .But the second wife would have had the 1st wife (Egret II ) removed the next day she told me that in certain words.
like you said just keep on looking
Regards Bear
PS where are you on Lake Macquarie ?