Suggestions for pecky cypress paneling?

Hi,

Nearly the entire bottom floor of my house is paneled in beveled-edged pecky cypress paneling. It's stained a dark color and looks very dated. I know this is a common problem, and I've actually liked what I've seen in painted paneling. It's a bit more interesting than drywall, I think.

I've heard that pecky cypress is a difficult to find wood, and I've been told that I should try to sell the paneling and drywall rather than spoil it by painting. In fact, I've seen prices around the web for "new" pecky cypress at $14 a board foot. However, when I call around, I can only find one or two people willing to take it, and they only want to give me 1-2 bucks a board (not a foot). This stuff is pristine, too.

Have I been mislead about the paneling? I don't mind drywalling, but I don't want to go out of my way to do it, either. I've also considered cutting it down to about 3 feet and drywalling above it, like wainscoting. This has already been done in one room.

Thanks for any help.

 

I agree it would be a shame to cover it with paint but it would be hard to put a value on the boards until they are removed. It is the shape they are in after removal that will dictate the price. It won't be easy to remove all the wood and not damage the tongue and groove.