Reckon you are on the mark there southace.
Icon and Time Traveller are not the same boat i. e. cabin tops are different and maybe mast position, but I am 100% convinced they both came out of the same mould.
It is a shame that some owners let beautiful yachts go like that, however I reckon a $3,000 slipping, pressure blast all over, bottom scrape, bit of battery and some tinkering with engine service, paint on the bottom and back in the drink would add $30,000 value to the yacht.
Business opportunity for you southace.
Geelong is not far from you. If you can pick it up from the Port Authority for what their owe is as an "unclaimed vessel" say $10,000, why would you not buy it, slip it, sail it home, get it in survey and run sail training day sailing trips and take her racing with the club WAGS and SAGS.............
OR
Buy it at the right price, tart it and sell it???
Even if it was right and you had to pay $20,000 for the yacht, I am sure there is a good earner in her.
Right up your alley bloke and down there I am sure with the right kind of publicity you will attract ample more sophisticated and more importantly wealthier clientele than the backpacker market.
Ben that bought my Peterson 42 worked that sail training market out of Brisbane for quite some years and made a packet out of it.
P.S. TIME TRAVELLER is a great name to head that kind of business. You could build a yarn around it.