This story, true or false, is hysterical if told well. First of all, the Ski Master and the Cap’n need to be portrayed as well-inebriated throughout. The version I first heard has them backing a (stolen) boat and trailer into the water, unhooking the trailer (!) and letting it roll down the ramp to Davy Jones’ Locker. They go through a Two Stooges routine setting up their boat, then Ski Master stands on the concrete pier, and the Cap’n hollers the hysterical question:
“Aaaare you rrrrready, SKI MASTER?”
“Make it happen, CAP’N!”
The boat is revved to full speed immediately, Ski Master is yanked down, faceplants on the concrete, screaming horribly, and is dragged off out of sight by the Cap’n, who doesn’t realize what he has done. Ski Master is portrayed as too dumb (or too stunned) to let go.
The version I heard came from North Carolina, and I first heard it in the early 90s. The person telling it (Phil) was also a master at telling Jimmy Buffett’s version of Lord Buckley’s “God’s Own Drunk”, and the classic highway patrol story that ends with the Star Wars fan telling the State Trooper “These aren’t the drugs you’re looking for.” It should be clear to anyone listening that these stories are fiction – but it’s bad form to call the storyteller on his b.s.; it’s much cooler to have a similar shaggy dog story tucked away in your repertoire. By telling your story as broadly and ridiculously as possible, you point out the absurdity of his tale politely, and entertain everyone at the same time.