YACHT & SMALL CRAFT SURVEYS
With years of experience in the yacht industry, we have expanded our services to include both Pre purchase surveys as well as Condition & Value Surveys. Using state of the art software, we perform comprehensive stem to stern surveys assuring you a full understanding of your vessel.
Pre-Purchase, Condition & Value Survey
The Pre-Purchase Survey includes visual inspection & performance testing of each and every piece of equipment fitted aboard from stem to stern. In general, we will not disassemble permanent parts of the boat to access areas we can’t see, so some areas won’t be inspected... it’s a snapshot of the boat at that particular moment – there’s no guarantee that an electrical component that powered up during the survey won’t suddenly reach the end of its life the next week.
The classic survey routine for a boat in the water starts with an inspection in its slip, a “short haul” a hull inspection once the boat dries, re-launching and a short sea trial, followed by any further inspections needed. All of this is accomplished in one day on most boats, though on larger yachts more time may be needed.
The result of the surveying process will be a written report with:
Descriptions of the boat and each system onboard.
Findings and recommendations, divided into levels of importance.
A statement of the boat’s overall condition.
Fair market and replacement values for the boat, based on comparable sales or industry data.
The report will comment on the condition of the components on the boat, and may state whether the boat is “fit for its intended use,” but will not (and should not) say whether the boat is “seaworthy.” The concept of being “seaworthy” includes the quality of the crew and its preparations in relation to a specific voyage being attempted, so it's well outside the scope of a pre-purchase survey.
Limited Condition & Value Survey
This survey is often done specifically for insurance purposes. An insurance C&V survey may be done with the vessel either afloat or ashore, depending on the insurance carrier’s requirements, and doesn’t necessarily require a sea trial or operational testing of all equipment and systems.
Each insurance company has their own set of requirements as to what age/size vessel needs a survey, and what the survey report should include. This is especially true for vessels made from anything other than fiberglass (wood, steel, aluminum).
The information contained in an insurance C&V survey report is not sufficient to make an informed decision regarding the purchase of the vessel.
At the request of the potential buyer, for an additional fee, an engine survey can be performed at the time of the survey. The engine survey can be as basic as compression testing each of the cylinders or as comprehensive as oil samples and a full computer diagnostic, confirming hours and fault codes on each of the engines. This will give you a complete overview of the engine's health.
Appraisal surveys are used for financing, estate and divorce settlements, and donation of vessels to charities. Professional marine surveyors are recognized by the IRS, courts, banks and insurance companies as boat and yacht appraisers within their area of expertise.
The damage survey may also be performed for insurance companies, vessel owners and other vested entities. This includes determining the nature, cause and extent of damage to a vessel when something goes wrong. They work closely with tow boat and salvage operators when the need arises, and often work with repair shops and boatyards to determine the cost of repairs.