Ocean County College is selling the 28-foot centerboard catboat Tamwock for $56,000.18 to the only bidder for the custom built classic.
The Board of Trustees approved to John E. Pakenham Jr. of Mantoloking after offers were sought in advertising in the Asbury Park Press and www.woodenboatsnj.com.
Pakenham’s bid was the only one received for the boat, which was built in 1990 and later donated to the college to support is sailing program.
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When it was donated April 13, 2006, a surveyor’s report estimated its value at between $178,200 and $181,400. The cost of maintaining it was more than $12,000 a year.
The original Tamwock, built in 1923, was raced successfully against other A-cats on Barnegat Bay, but was destroyed in a 1940 boatyard fire.
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The discovery of plans for that boat in an antique shop bureau drawer triggered the construction of new A-cats in 1982. Peter Kellogg of Bay Head commissioned the construction of a new Tamwock, hopeful it would be as staunch a competitor as the original when it was launched in 1990.
It was not to be. Tamwock finished last in her maiden racing season.
OCC officials on Monday ordered the Tamwock sold “as is, where is,’’ to Pakenham.
