RedactedNarrative: PWC was purchased a week ago and owner was out for the first time on this PWC. Launched PWC from Deep Bottom boat ramp along with another vessel he owns. Traveled down the James River to the Gravel Pit where he was meeting other people at 2pm. Noticed a small amount of water inside the hull of PWC and drained it. The PWC was used off and on over the next few hours within the gravel pit and when checked by owner was taking on more water. Owner attempted to sure up seal around drive shaft while he had it beached and did not ride it the rest of the afternoon. Around 7pm the owner left the Gravel Pit to head back to Deep Bottom boat ramp, hoping to make it to the ramp before taking in anymore water. After he made it to the split in the river that leads to Deep Bottom the PWC had taken on so much water that it capsized and began to sink around 7:30pm. The owners other boat was following and was able to retrieve the owner from the water. The owner attempted to tow the PWC but was not able to as it had sunk all but the bow. The owner left to drop his family off at the Deep Bottom ramp and was not able to relocate the PWC when he returned as it was dark. Owner contact and reported to Coast Guard.