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"The lifeboat then towed the vessel off but unfortunately it sank and is now sitting in three metres of water"
It might have been better to leave it where it was /forums/images/graemlins/blush.gif
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The owner of the yacht was pleading with the lifeboat crew to tow her off. They were getting battered by waves and he feared the boat was going to get smashed up. The lifeboat and coastguard made sure the owner was aware that the yacht may sink, and that getting pulled off the rocks was at his request.
I heard (only third hand) that the crew had a problem getting the battoned forestay down with the spinny up and when they were concentrating on the problems they went off course a bit and went too far inshore.
Either way lifes can't be replaced but boats can.
A good result in any case.