Distraught boat owner unsure if he will start again

Launceston's Marcus Hughes yesterday said he spent about $80,000 and "every weekend and holiday" for the past six years working to restore the boat.

He said the 40-foot vessel was nearing completion before the fire, believed to be triggered by an electrical fault.

"The damage is probably more than the $80,0000 reported, but I'm unsure whether to start the process again, it's heartbreaking," Mr Hughes said.

"From what I can see, from standing inside, is that the deck will have to come off and the cabin."

Mr Hughes said the schooner was only insured as a repair job while he fixed its rotting topside planking, deck, sides and mast.

Although its frame and underside remain relatively undamaged, Mr Hughes said he suspected it would be considered a write-off.

"The insurance could never meet the amount of time and effort I put into it, or the market value," Mr Hughes said.

"I expected if I put it up for sale I'd be looking for more than $100,000, but to actually build it from new would cost a couple of hundred thousand."

Although a definite cause of the fire is still yet to be determined, Mr Hughes said even experienced boaters should pay heed to the event.

"I have a navy background and am not unfamiliar with the workings of boat mechanics, turning switches on and off," he said.

"I agree with the fire department, it just can't be proven if it was a switch or not - people still need to be cautious around boats and apply the proper safety procedures."

The boat, named Scamp, has been in or around the Tamar River for the past four decades.

It was built in Sydney about 1950 based on plans by New York yacht designer C.D. Mower, which featured in a 1926 edition of Motor Boating magazine.