Hello John . I would go with Colin on this one. It is yacht hull and has to be a yacht.
it may be difficult to strip the hull properly to get an all-wood shiny varnish finish.
As a suggestion, I would smooth the hull nicely, refinish it in the original colour, stick a nice shiny wood deck on it (for the wood bit) and go for the traditional “pond yacht look”, as that is what it is.
To retain the nostalgic element a new mast finished in blue paint (assuming this is how it was originally) could be made and perhaps a better sail, from material matching the original. A fabric shop would be able to match that, if not perfectly, then almost the same. Most toy yachts might have had demountable or pivoting masts, and this would be very easy to do thus alleviating the space issue and would give a better look to the hull when on display.
no reason why you could not only have a nice model to look at, but one that sails as well. I would have thought the sight of the model on a pond after a 70 year gap would be most rewarding. Hankies at the ready!
Ashley
Edited By ashley needham on 18/11/2019 09:14:17
Edited By ashley needham on 18/11/2019 09:15:35
Edited By ashley needham on 18/11/2019 09:16:59