Valuation surveys are often required for legal reasons, obtaining financing, determining a selling price or determining a tax credit when vessels are donated to charity. The survey provides an appraisal of the vessel’s value in the current open market conditions.
Unless otherwise requested, an in-water survey of the vessel will be carried out. This is done to ascertain the overall condition of the boat. We can then compare this information to similar vessels that are on the market.
Valuations are largely based on historical data and our experience with the local boat market. Values may also be derived from consultation with knowledgeable boat brokers, and internet research to find comparable vessels that are on the market as well as actual sold prices of comparable vessels.
We try to have the completed survey report written up and sent out within seven business days.