That's about what I ended up doing, only I managed to get my hands on some left over boat paint my father had laying around. I sanded everything down, but I only had enough for one coat so it didn't come out perfect, but it keeps the water out for at least 6 hours. If I was going to be keeping it in the water, I would have wanted another coat or two but it lives upsidedown on top of my trailer when I'm not fishing from it so the one works. It looks really nice from about 20 yards away, but closer than that and you can tell it was the first time I did fiberglass work. It floats, so I'm happy!