The Basic hull shape is made from a block of Balsa wood. then all the planking, keel, mast and structural elements are made from Walnut planking, strips and rods available here.
http://www.cornwallmodelboats.co.uk/acatalog/timber.htm(this site is great for scratch builders, particularly boats, check out the range of Matierials, and Model Boat and Ship Fittings)
The planking is 0.5mm x 4mm available in 1 metre lengths for only £0.26 ($0.36 or 0.29 Euro). The whole model will have cost less than £15.00 in Matierials ( Oh yeah also spent £6.00 on superglue, all those individual planks)
The wood is this colour, have been tempted to just varnish it, But I will be painting and weathering the model.
The above shop also supplied a superb brass falconet

So far have spent about 10 hours building, will be painting the interior and accesories tonight, photo tomorrow (or tonight if Im effecient!).
Hope this awnsers questions.