Thanks for the link. Prices on used w/c canoes are low now, he/she doesn't show pics or mention the model. A 16 foot Chestnut Prospector without any rot/cracked ribs/ and having good stem tips/inwales/good seats needing a canvas would be somewhere around $600-1000 imo. He's asking $1200/bo. If it's a 16' Pal, it would good a little lower.
You figure you would need stripper/sandpaper/varnish/primer/paint/canvas/filler/stem bands/cane for seats/new gunnels...$3-500? if your good at finding this material....more if you need it shipped
40 hours? just a quick guesstimate.
Hours of endless pain on the ports....hours of endless pleasure paddling your own restoration.