Oh God. What have I done. 
That answer depends on what you paid for it?
Less than the winches are likely worth.

But also less than it's going to cost to truck it here & back down. $2500 all told.
I'm pretty sure that's at least three different stupid moves in one! 
The Doofus Trifecta. That's our genius. AND it's a donation boat! Four of a kind.

(Actually, Boat Angel has around 9000 feedbacks, 99.5% positive. They have been excellent to deal with thus far.)
Doug: thanks for the encouragement. I realize it's an iffy way to buy a boat; the risk is factored into the purchase price.

No core in the hull; foam core in the deck, seldom delaminated; no history of blisters in Albins. The bones are good, and we always planned to strip it to those bones. If you have some time to kill, it's worth any boat-rehab-fancier's time to visit the
Mostly About Boats site. That Ballad was absolutley trashed.
Sleek! I really like it. Uh...where the hell are you going to sail her? In one of the resevoirs?
The condition of your boat is like my Pearson when I bought it- a blank canvas. That's so much better than undoing someone else's work.
Fix her up, but don't forget to go sailing!
We have two other lake sailboats to amuse us (see Tom's 'stupid moves' observation, above -- there's a pattern here) and an eight month off-season for boat fixin'. I am liking the blank canvas. Forty years old -- it all has to come out for inspection, anyhow. The less clutter, the better.
There was a time I was interested in the design. It has a reputation for shining in rough upwind conditions.
Yeah, it's supposed to be an
absolute witch close hauled, and the stinkier the better. Most owners don't even reef the tiny main until 30-35kts. And less crazy downwind than later IOR designs, not if you don't horsewhip it. But that means we are going to need both heavy air combos (some balance of roller furling and an inner staysail?) and an effective light air sailplan. We've met that range to our satisfaction on the SJ21 -- but that's a fractional rig & only 1500lbs. Much of the terror I'm feeling right now regards the Ballad is its (relative)
complexity. It has actual plumbing! And a diesel engine!