Marine Hull & Boat Valuations

Do you own a boat or looking purchase a vessel and need a valuation certificate. Deaspec Marine Surveying can provide you with detailed valuation report to meet your needs.

There are multiple reasons why you may need a boat appraised, the most common reasons are requested by Insurance Companies, Finance Companies and Legal Firms.

There are Three different types of valuations:

Digital or Desktop Valuation: Most of the information, specifications and detailed images are provided by the client. If these are suitably sufficient by the surveyor to prepare a report, then this is often the cheapest and most economical form of a valuation, however this may not always meet the requirements of the party in which it is intended. We will advise you on this, depending on the vessel value, condition and location.

Vessel Inspection Valuation: This requires the surveyor to physically inspect the vessel both inside and out, it may require the operation of the engine/s and onboard equipment to ascertain the overall condition of the boat. A detailed report is then provided to the client to suit their needs.

Vessel Inspection & Test Valuation: Very similar to the above, a boat or yacht inspection is required, however for this type of valuation we load test the engines by carrying out a sea trial along with load testing generators, air conditioners, gyroscopes and other notable and valuable onboard equipment’s. A detailed and considered written report is then provided to the client.

Get A Boat Valuation Quote Today!

Boat Insurance Valuations

Marine Hull Insurers like Club Marine, RACV and Nautilus Marine will often request an appraisal to determine a fair market value or sum-insured for the boat prior to commencing a policy or on annual renewal. Agreed value policies are far less common these days, however can sometimes be accepted if a current market value can be agreed. Such agreed values are generally for a fixed period of time, say less than 3 years or so.

In our experience, digital or desktop valuations for insurance companies can often be acceptable. This means, if we have sufficient details, specifications and images of a vessel we can provide a valuation without a physical inspection.

 

Boat Loan or Finance Valuations

If you are taking out a loan or finance on a vessel, motor yacht or cruiser, it is common place for such companies to require a written valuation report from a suitably qualified valuer or marine surveyor.

In some cases, the financier will want the surveyor to confirm the vessel and engine specifications along with the overall condition and operational capabilities of the engine/s and generators etc. Obviously this requires the craft to be inspected and sometimes water tested or sea trialed.

Your bank or finance company will generally provide you with the specifications the valuation would need in order to satisfy their lending criteria, in our experience the higher the vessel value and/or loan amount the more details the  lender will require.

In general, these are pretty strait forward if the vessel is in a reasonably sound and operational condition.

Vessel inspections are common for these types of appraisals, however desktop or digital valuations can suffice depending on the lenders requirements.

 

Valuation for Vessel Improvements

We provide expert advice in re-valuing your boat following a major refit or refurbishment. If you have spent a sizable some of time and/or money restoring, refitting or refurbishing your vessel beyond its typical age compared to similar vessels both internally and externally, then you may want to consider re-valuing your vessel to ensure it is covered at its updated market value in the event of a loss.

We commonly re-value vessels which have been modified, extended, re-powered or refitted with additional upgrades such a new engines, electronics, generator/s or gyroscopes etc.

Call us to provide you with a valuation today!

 

Legal & Separation Valuations

Unfortunately, there are times when the division or sale assets which include marine craft, boats, yachts and jet skis are required – typically following a separation or divorce.

We are experienced in providing marine hull valuation reports for legal matters.

Commonly, a valuation in this case is provided to provide a fair division of assets or set a reasonable sale price for a vessel during these difficult times.

Let Deaspec Marine Surveying take expert care and confidentiality for such appraisals.

 

Boat Valuation Cost

The cost varies greatly depending on the make, model, construction, size, location and if a physical inspection is required. Obviously, travel cost’s need to be considered for the surveyor to attend, access and inspect the vessel if needed.

Typically, digital desktop valuations start from $299.00 + GST depending on size.

Use our quick online form to request a boat valuation quote and booking today!

 

Get A Boat Valuation Quote Today!