Mighty nice model. Those old Imai 1/350 sailing ships are actually pretty good, considering their size and age. (They originally appeared in the late seventies.)
If memory serves, the Esmeralda became somewhat controversial during the big sailing school ship extravaganza of 1976. The complaint was that the Chilean government had once used her as a floating prison, and people had been tortured on board her. The scandal died down when somebody pointed out that the U.S.'s sail training ship, the Eagle, had once trained Nazi sailors.
Youth, talent, hard work, and enthusiasm are no match for old age and treachery.