You are looking at a gently handled 

BAYWATCH LIFEGUARD

battery powered speedboat, number SC8988 on the side of the cabin.  This is yellow in color, with the top cabin piece removable to reveal the battery compartment.  There is some battery corrosion residue in the compartment, which we did clear some and the battery contacts; put in batteries and set in a sink of water and the motor on the underside did work briefly--may need more cleaning or servicing. There are six small holes on the underside with a metal piece inside towards the front that appear to make the motor operate when in contact with water.  Boat is in excellent condition cosmetically with only a few very faint surface scuffs under close inspection.  U.K. Reg. Design Number No. 1017399.  Great Baywatch collectible piece!!