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I just bought a 50-year old H-boat for 3K, very excited to do casual racing with it this summer. It's the most popular racing class here so there's quite a few opportunities for it. The sails are very old so I'll hopefully be able to cop some slightly newer (but still used) ones, don't want to invest triple the price of the boat in new sails just yet.
Going to try and avoid making it too much of a project since I still need to focus my major effort's on my family's sailboat, but that's definitely a cruiser and won't ever be used to race.