Hi IanR,
Just a little correction to what I said about bearings for the Fallshaw wheels. I just bought three of the wheels on Xmas Eve and immediately went to BSC to buy precision bearings.
The wheels come with 2"x1"x1/2" deep groove bearings. These are quite cheap at around $5 each. The best price I could get on the same size precision sealed bearings was around $18 each. There is a little bit of debate on whether a yacht will perform better with tight or loose bearings. Not resolved yet.
A further comment on the construction of your yacht. If you take off the bicyle steering head and frame tube and turn it upside down, reattach, and of course put the forks in the other way, your steering geometry will be approaching the layover steering as used on most yachts these days.
I seriously doubt you will get a Fallshaw wheel into those front forks though. What I have seen at our local bicycle shop is a black plastic spoked wheel fitted with precision bearings which is sold as golf buggy (hand pull variety) wheel for $35. It takes a 12"x2 1/2" tyre and tube which will cost another $12-$15.
This is the same size wheel and tyre as fitted to the front of the blokarts. An alternative to the Fallshaw wheels for the rear of your yacht are the older style blokart wheels. These are 6" rims with 4" or 5" wide tyres. Enmach Industries here in Bundaberg import them from NZ and fit them to their plastic trailers for ride on mowers. I have been buying the wheels from them for around $55 each with tyres. The wheels will take 6202 precision bearings on
just under 15mm axles with 14mm thread for retainer nut. The bearings are clamped onto a spacer sleeve between them in the hub.
The bearings are 35mm O.D.x 15mm I.D.x11mm W. These bearings are very common and I have been buying Taiwanese made ones for less than $5 each.
Now we've REALLY got you confused.


Cheers Cisco

.
P.S. Second edit correction on axle and bearing sizes for the blokart rear wheels as above.