I have used the methods in this link. If you follow each step it works quite well, restoring to nearly new. It does take a number of products. You'll have maybe $100, probably more, invested in polishes, sealers etc. In addition, you do need a polisher, it's not going to work by hand, at least if you plan to finish in this lifetime.
Do follow each step, do not try to get by with some cheap alternative product. If there is enough gelcoat left to restore it, and the boat is a good one, it'll be worth it. If you have places where there isn't sufficient gelcoat left, or scrapes and scratches go through the gelcoat it's probably not worth doing this. Those are still going to show.
Years ago I tried to polish a nice Glastron. Each year, or sometimes twice a year, I'd polish it with an auto type polish. I'd put a cheap wax on it. Looked good for a couple weeks, then it would quickly head back to the oxidized surface. The problem was, it didn't take long until I ran out of gelcoat and there was nothing left to polish. That is why you need to use the products he recommends in the tutorial.
I did a 22 foot sailboat a year and a half ago that was so oxidized that it looked like a stick of chalk. About 2 months ago I pulled it back in my shop and it just needed a single coat of wax (the 3M Ultra Performance paste wax he mentions) and it was back to the same as when I did all the steps a year and a half ago. once it's done, it looks to me like one coat of wax once a year will keep it good.
I don't have the expensive polishers he recommends, I'd bought a similar cheap Harbor Freight unit some time before for a car project. It works, but I doubt it's going to last me long. You will need the polishing disks, which also aren't cheap.
If the boat is in shape to be polished, and the boat has some value, either to you or if you sell it, it'll be worth it. If it's something you don't care that much about, you're probably not going to want to spend the time and money to do a good job. You'll have somewhere between $100 and $200, maybe $300 if you buy a good polisher, in it. Plus your labor.
The other thing to think about is, any place there was a decal or something that kept the weather from hitting the gelcoat, it will have the original thickness and color. All the polish and sealer in the world will not make the surface even - maybe careful block sanding first can do it - but even that will not make the color match exactly there.
One more thing. Get the stains out before you do all this, you don't want to seal them in. One thing I use that gets out many is oxalic acid. You'll find it as a powder that is mixed with water in the hardware store, usually sold to bleach wood. Like clean decks, etc. It'll take out rust stains and many stains from tree sap and wood, plus many more. It's under $10 to make a gallon. It's slow going, but it works.