I know it's not pretty but this is real life. More accurately the end of this boat's life. The stages are simple. Abandonment, denudation of the vessel's usable parts, organic and inorganic decay caused by both biological and chemical breakdown, followed later by maybe a wood chipper or some other form of size reduction technology. Hmmm, a tub grinder would provide some very dramatic film footage. Eventually in either scenario internment in the local landfill cemetery is a likely outcome.
The only remnants of this vessel's existence will be in a box of old yellowed registration and tax documents stored in the basement of some government building, and even these will finally join the boat in Davy Jones locker at some point in the future.