Value Apricement

Survey Marine provides an unbiased and objective opinion as to the condition and value of a vessel for the buyer, owner, insurer, or financial institution. The surveyor examines the vessel searching for any defects, damage, poorly designed or poorly constructed components, structural defects or damage, cosmetic defects, and excessive wear. The surveyor also examines the vessel’s safety equipment to see that it meets STCW requirements. The surveyor’s report is a confidential document prepared for the benefit of the client and the vessel.

The vessel’s condition and current market conditions are factored into the appraisal. The condition, quantity, and quality of extra equipment are also taken into consideration.

Preparation Equipment that is not necessary for the operation of the vessel should be stored ashore temporarily to facilitate a thorough inspection. Bilges should be dewatered prior to the survey.

Damage History We request that our clients disclose any knowledge or suspicion they have of prior history of flooding, sinking, grounding, fire, collision, or any other structural or cosmetic damage history on the subject vessel before we survey.

Assesment types

Insurance Survey In some cases, an “insurance update” survey is requested by the insurer. The insurance survey may be to re-evaluate the condition and value because of the passage of time or to determine if any equipment, engines, generators, etc. have been added, upgraded, removed, or replaced since the last comprehensive survey. The surveyor also notes the vessel’s general housekeeping and calculates the current market value. Some insurers will permit the “update survey” to be done at dockside, saving the cost of a haulout.

Condition Survey. Corrosion Analysis. With the boat in the water, we use an electronic corrosion meter to check the effectiveness of zinc sacrificial anodes, bonding, and the effects that dissimilar metals are having on each other. The vessel must be afloat to effectively analyze the electrical values. An inspection of the vessel hauled out can be useful to visually determine the extent of corrosion damage.

Moisture Content or Hull Osmosis Analysis Useful in finding leaks, voids, saturated GRP laminate, and incipient rot, the “moisture meter” is a handy tool for the marine

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