Very much the point. Building a boat is labor intensive. The materials are relatively inexpensive, compared to the time invested in building. The person selling that used Pocketship was likely the builder, and sees value in their time spent building it.

That ~50 year old Westerly? That labor is long gone. The previous owner did invest his time in a partial refit, but relinquished his interest when he stopped paying storage fees and let a lien be placed on it. The club has no time invested, just the lost storage fees, but would rather minimize future loss; an abandoned boat takes up space that would otherwise be generating revenue for them. The club members (nearly all power boaters) see little value in the boat itself. Any revenue gained from scrapping it would likely exceed the cost to scrap the fiberglass hull (again, a labor intensive process).

She really is a cool boat, though. I'm having a great time completing the refit, and I don't see my labor invested as lost when I'm enjoying the process as much as I am.