(You can click on the images to view them in bigger size)
First if you'll follow with me you can find the images you'll need for this tutorial here:
Open image 2:
Next start to make path for a new selection using pen tool.
Continue with the making of the paths. There is really no need to be perfect, it is even required to be exactly like mine. You can see in the image:
After everything is ready you can make a selection.
In my case I have been clicked on subtract from area. So when I choose make selection , it makes selection on everything else except the boat. If that happens to you use CTRL+SHIFT+I to invert the selection or go to the menu selection and choose invert selection. After you have the selection hit CTRL+J and this will make a new layer with the boat on it.
Now move it to the other photo.
Using the pen tool I have removed this part between the rope and the canvas. After that take the eraser tool and adjust the settings as shown in the image:
Start to erase the edges of the waves like it's shown here:
Now I am deleting also the the other areas I don't like using the techniques I already mentioned. The eraser tool or pen tool and making selections.
Now using levels make some adjustments. We must make the boat to blend completely with the new background.
We can make also some adjustments for the background.
Back on the boat layer and use Inner Glow from the blending options. Look at the settings I use and the color I have choosed:
We're almost at the end. Merge the 2 layers and using curves we can improve the quality of our new photo.
And I have made a some croping. This is our final photo. Hope you like it:
Feel free to share and comment with your critique, suggestions or questions.