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The first thing to do is determine if the Yanmar is repairable, and if so, how much. Whether it is worth putting a lot of money into really depends on the engine. Is it fresh water or raw water cooled? A lot of boats back then had raw water cooled engines. 40 years of sea water circulating through an engine will take its toll on even the most meticulously maintained engines.

If the engine is not repairable the last thing you want to do is retrofit to an obsolete gas engine! Gasoline on a sailboat is just a bad idea! They don't call them Atomic Bombs for nothing!

If the boat is worth repowering it is worth putting another diesel in.

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