Alot of guys fish my Assassin at close too 200 ft depths at times so I have some experiance here..Both good and bad..LOL.Everybody is right..it is water getting in under your top coat and or paint.At those depths,water just doesn't soak in, it is litterly pushed in...Your thinking to your self..I've got a good top coat on..doesn't matter..the water is getting in at the the edges of the face of your lure..(Trust me on this!!).Epoxies don't like edges,and you need to be rounded off those edges too get a good seal.Also make sure you put some epoxy on your eyescrews too seal them aswell..Nathan