One ship, at a cost of $11.03 (before tax) from Home Depot. All of these items are available in the plumbing aisle. Tools needed are a measuring tape, marker, and hand saw.
Materials list:
- 3 total pieces, 1/2" x 10' PVC pipe 
- 3 total pieces, 1/2" 90° elbow joints
- 2 total pieces, 1/2" Tee joints
- 1 piece, 1/2" side outlet elbow joint with threading
- 1 piece, 1/2" x 18" PVC riser
- 1 piece, 1/2" threaded cap
Step one. Cut down PVC pipe to lengths of the following: 2 pieces at 6' long, 2 pieces at 5' long, 2 pieces at 3-4' (depending on width of ship desired) long.
Step two. The 6' sections create the sides of the ship, add the Tee joints one the end of one each, a 90° elbow one side, the 1/2" side outlet elbow joint on the other.
Step three. Take assembled sides, and attach the 3-4' PVC sections to create the main body of the ship. This will now create a rectangle shape.
Step four. Attach the 5' long sections to the main ship body at the Tee joints. Use remaining 90° elbow joint to attach to the end of one 5' section. Bring these two pieces together to create the prow of the ship by connecting at the elbow joint.
Step five. Thread 18" PVC riser into the side outlet elbow joint, creating the "flag" mast. Add 1/2" cap.
You now have the completed frame of a rapier ship. Additional decoration can then be added as desired to complete the look of your ship.