RedactedNarrative: Owner stated that he and his wife were traveling down bound in the North Channel when they hit a wave.  After hitting a large wave the boat sank. The boat is made out of wood and barely stayed afloat. Damage to the vessel was a large hole on the front port side approximately 2' x2' (two feet by two feet).  Also there was a 2" (two inch) crack that went to the bow and down to the mid-half of the vessel.  The vessel was towed by Clay Fire Department Fire Boat to Colony Marina's hoist.  It was brought out of the water and then placed on the subject's trailer.  Damage to the vessel is approximately $5000.00.  No injuries occurred.