If you're buffing on that color of red and you're not seeing any paint transfer then you're working on clear coated gel-coat or simply a clear coat paint system.
Technically, there is paint transferring to your pad but because it's clear you cannot see it.
That goes for any type of pad, abrasive product and tool when working on any clearcoated "anything". If you're abrading the surface you're getting a build-up of two things on the face of your buffing pads...
Spent product
Removed paint or removed "material" i.e. whatever the material might be
Love the large flake on boats like these...
We're going to have a 1961 Dune Buggy here in the near future that my buddy Jay just bought and he's having the sides painted with jumbo size gold metalflake paint job.
We'll probably do a wetsand, cut and buff on the fresh paint. It will be a Thursday night live broadcast.