Purpose of the Survey
A Valuation Survey provides an independent opinion of the yacht’s current fair market value at the date of the assessment.
The valuation is based on the yacht’s principal particulars, age, construction, apparent condition, equipment, maintenance history and operational status, together with the information and documentation made available and relevant market data reasonably available at the time of the assignment.
Basis of Valuation
The assessment may take into consideration, as applicable:
- builder, model, year and principal dimensions;
- construction and technical specification;
- machinery, systems and major equipment;
- general apparent condition and level of maintenance;
- refit, repair and upgrade history made available for review;
- current location and operational status;
- comparable yachts offered for sale or recently sold, where reliable information is available;
- prevailing market conditions at the valuation date.
Inspection and Documentation
The scope of physical inspection and document review is determined by the agreed assignment. Unless expressly included, the valuation does not constitute a full Pre-Purchase Survey and should not be relied upon as a substitute for one.
Limitations
The valuation represents an independent professional opinion at a specific date and is not a guarantee of the price that may ultimately be achieved in an actual sale.
Market conditions, currency fluctuations, the yacht’s subsequent condition, changes in specification and the circumstances of a particular transaction may affect the price obtainable.
Valuation Report
A written report is issued identifying the yacht, the basis and scope of the assessment, the principal information considered, any material limitations and the surveyor’s opinion of fair market value.