Did you notice the part about how his method of "fixing leaks" involved

stuffing rags in the holes?

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The moral villain in this two-act tragedy is really the guy who *should
have* scrapped that hulk but sold it, instead, to a starry eyed dreamer
who thought his new, 58-foot, $1000 boat probably only needed a few
cosmetic touches.......(like some rags stuffed into the gaps between
the planks). That $1000 would spend pretty hard if the dreamer had
actually succeeded in killing himself. Begs the question: should there
be a law against selling dangerous old derelicts for anything but
scrap- or should the free market prevail?