Alarm going off

[Crimsonseal]

I inherited my fathers fishing boat this week (2005 60hp Yamaha). He took excellent care of it, however, it had set up nearly two years. Fresh gas, marine stabilizer, charged up battery and it fired right up (using rabbit ears). Ran rough at first, but after it ran for a bit it smoothed out. Then an alarm started going off, the temperature light was not on, but turned it off just in case. I attempted to turn the key and before I started it the alarm started again. Waited a few more minutes turned the key, no alarm. I didn't attempt to crank it just in case.
My question is what was the alarm? I am guessing temp. But not sure. Any suggestions?
I didn't mention, it was pumping lots of water out of the back, after I cleaned the dirt dobbers nest out of the water line.

[boscoe99]

What type of gauge? Does it also have an oil alarm light?

Normally the alarm will be due to either over temperature or low oil.

Is the oil tank filled?

Put the motor in the water and see what happens. Quite common for a motor to over temp when being run on flush muffs but if the oil temperature light is working you should have gotten that indication when the buzzer sounded.