a question for boat people.

why is this yacht so cheap compaired to others in the same size catagory. is it because its wood? i have more money set aside than this to spend on one. im just learning what to look out for though. seems like a massive baragin to me. but again i have no rel clue about boats. thanks in advance for any advice.

http://www.ebay.co.uk/itm/Westerly-Nomad-22-foot-GRP-bilge-keel-yacht-with-yanmar-diesel-inboard-engine-/201804615506?hash=item2efc7e0f52:g:u14AAOSwTglYlnPK