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Mercury Model 200 20 HP Motor question

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I was recently reminded that you do not under any circumstances trust anyone and / or take thier word for anything. I bought a used boat with a 1975 Merc 20 hp motor on it. He told me that it started and ran fine, but there was something wrong with it that robbed it of a few horse power. Well, I took it to a shop and was told that the lower crank case seal is out of it, thus not letting the bottom cylender fire at all. He said it is quite a job to replace this seal, big enough that he did not have time to take it on right now.

So my two fold question is:
Is this worth me fixing? The motor is in GREAT shape, not a scratch on it, starts very easily, great spark and compression, and idles well on the one cylender.

If I chose to sell it or trade it in on something else, what is it worth?

This the the fist boat I have ever owned, so any advice is VERY much appreciated.


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