Well...no kidding, yeah it does! Stand out in the sun for 40 years like your boat has and see what happens. The sun is really a bitch on most everything including gelcoat. You may have to go the 400, 800, 1200 grit sandpaper route to get rid of the oxidation. Then the polish and wax procedure. Depends on how sever the oxidation is. The nice thing is when you get it done it's much, much easier to maintain the shine.
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