Valuations

It is essential when valuing a vessel that it is done in a professional manner.

 

Numerous decisions depend on this, such as whether or not you get that extra money from the bank or how much you pay for your insurance. You certainly would not want to end up in a situation that your vessel was over or undervalued with regard to insurance. If a vessel is registered in a foreign country, you would want to know that ownership is transferred to your name from the registered owner.

 

There is an international standard for valuations of boats. This fee includes time spent inspecting vessels and preparing a report.

We issue clear and easily understandable reports. Each report is a unique and exclusive document. As well as providing a valuation we provide the following:

  • General description of the vessel

  • An overview with recommendations and advice if selling or buying

  • The details of ownership

 

This is just brief information about how we will value your yacht and this web page will surely not answer all your questions. Please contact us for more information about how we work and for a quote to value your vessel.

 

Vessel Survey

 

The most common request we receive for a vessel survey is from the potential buyer of a pre-owned vessel. In addition to this, if the vessel is older than 10 years, the Insurers require a satisfactory out of water survey. This survey is thorough and complete and includes all the bad bits with the good; it also suggests/recommends what needs to be done to the vessel prior to a sale going through. The cost of a haul-out is not included in the price of the survey, remember, a haul out needs forward booking and coordination with us for the survey to take place.

We would need access to most parts of the boat that not necessarily are seen on a daily basis and heavy gear may well need moving. Steering quadrant and rudder stock head will also need viewing access. All seacocks, engine room/compartment, Genset, batteries, mast base if keel stepped, bilge pumps, chain plates, bulkhead to hull joins and all the relevant in date paperwork for example Certificate of Competence.

Another request for a vessel survey is when damage has occurred and the Insurers needs a report thereof. We offer this service as well. Quotes will be required and these are to be reviewed by the surveyor and offer advice and recommendation where necessary. Subcontractors work for the owner of the vessel.

 

One type of vessel survey that we do not do often and should be done every three years is a “Condition Valuation Survey” – this survey protects both the owner and Insurer as the survey is done to determine a fair current market price and any current defects and recommendations.

Contact us for the current Tariff of Fees and Disbursements for Valuations of Vessels.

For a free, no-obligation quotation, please contact us: