I walked away from $1300 price, am I crazy?
Welcome to the conundrum. What is the canoe really worth? It is clearly a nice canoe, but it needs some serious work done on it. Will it be worth what that costs when you are done restoring it?
An inside rail might be spliceable, but assume it needs to be replaced. Off come the decks. Off comes the canvas.
Broken ribs...sometimes they are OK to leave but if the canvas is off it's a good time to replace them. It's also an option to backside splice. It's a game day call.
The canoe has been painted, on the inside. That is not a fun thing to deal with. Today's enviro friendly strippers will torture you until you have tears in your eyes. Is there a professional nearby who can put it in a dip tank? That's a cool $500 cash from your pocket if you go that route or 20 or 30 hours of your time if you do it yourself.
It all adds up. A home restoration will cost you about $600 dollars more or less. It will cost $1,100 if the pro strips it for you. Add whatever you think 100 hours of your time is worth to come up with a total.
A professional restoration will cost you anywhere from $250 to $500.00 per foot, plus the cost of the canoe.....
And when you are done, the canoe might be worth $3,500 on a good day?
Often there is no good financial case for buying these canoes. You have to have the collector disease or a strong attraction to the particular boat.
If a courting canoe is something you really want, make an offer that is one that makes sense to you.
$1,300 for a damaged canoe that requires a total restoration is off the charts unrealistic.
If you can show the seller what it would cost to restore and suggest a restored value while you negotiate a lower price, that might make it worth your while.
But as it sits, no, you are not crazy. You are informed.