boomer1

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There are a number of choices. Iinvite you to visit another RC forum thathas a large sailboatsection that canbe of great help to you.http://www.rcgroups.com/sailboats-59 The RC Universeforumdoes not have as large a sailboat following as does the RCGroups.com forum. Thelink I've provided,offers you a wealth of information on just about every kind of RC sailboat you can think of.

I suggest you consider the Nirvana ll as the bestplace to start for your first boat. You will have to spendabout $50 more but, it is the right choice for you. Check out this link to lean more about these time tested and extremely popular RC sailboats: http://sailrc.com/sailrcnirvana/Nirvana_Store.html The fellow there Steve Lang, knows about everthing there is to know about these boats. There are several very good deals on these boats going on right now on his remaining stock. You can alsovisithttp://www.harbormodels.comwhois a newly appointed Nirvana dealer with the bestpricesI have seen.To get a sense of the Nirvana from an owner's point of view check out this link: http://www.rcgroups.com/forums/showthread.php?t=794969

Another option is tocheck outa well know company in So. Ca. called Victor Models. They manufacture a nice line of RC sailboats from 12" to 44". They sell boats inkit form, or infullyready to sail versions, that include everything you need to go sailing. Check out this link and take a look at their boats. Kits are generally in your price range.
Kit boats generally will require you to have or purchase additional parts which would include: 2 servos (rudder and sail) radio and a receiver and a battery pack. Prices vary depending on the choices you make.For details go to: http://www.victor-model.com

This should get you started. Stop by the other forum and ask the same question and you will should get a lot of good responses.

Boomer

I posted a picture of the Nirvana ll and one of the Victor boats - These are more like $350 in completed form, you can build a kit for less.