Are they 'standard' Merc gauges? Or some sort of custom gauge? You can check the 'operating range' of the gauge with a simple tester. Just buy a 33Ω resistor and a 240Ω resistor and put them in place of the sender, one at a time. With the 33Ω resistor, the gauge should read maximum (high oil pressure, high water temp, full trim depending on the gauge being tested), with the 240Ω they should read minimum (low pressure, cold engine, full down trim etc)
If the 33Ω doesn't make the gauge read full, try the grounding the wire. If that does, then the gauges are for a different sender range....
Chris........