On Wed, 14 Nov 2018 19:40:28 -0800 (PST), wrote:

I recently bought a 1986 bayliner trophy 2160. I’ve got it all figured out except the “pull knob” above the ignition key that only says baitwell. What does this do???


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If all else fails, try to trace the wires. If it looks original you
might also try calling the Bayliner folks.

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You'd think it would activate a pump to either fill or agitate water in the well.
My previous boat had this feature but I didn't even try it out in the 4 seasons I had that boat. No live or dead fish allowed aboard.