Gel coat keeps the UV off the structural laminates and protects against
moisture absorbtion into the glass. In the UK I have had inspectors
threaten to ground an aircraft with gelcoat at the very early stages of
deterioration and I have had inspectors not even pass comment on
gelcoat obviously in need of serious attention. I would not turn down
an LS4 with a dodgy gelcoat but in todays market I would expect the
price to reflect the cost of rework. LS4's remain really sweet aircraft
to rig and fly and one of the most comfortable I have ever sat in for 7
hours at a time.

If you were prepared to aquire the necessary skills to do the repairs
yourself at the end of your first seasons flying you would save a
bundle and gain a heap of self-satisfaction.

Just my £0.02 worth