What is a Marine Survey? What is a Certification of value?
Get a boat surveyed for you and your passengers safety.
Get a boat certified to make and/or save money.
What is a Marine Survey?
Basically, it is a detailed inspection of a boat, hopefully done by a qualified, diligent, intelligent and honest surveyor, for
the purpose of determining its current condition and seaworthiness. In particular, to determine if the vessel is safe to
use in conditions for which it was designed, what maintenance and repairs are required, or are likely to be required in
the near future. Most buyers are not experienced enough, or mechanically inclined to a point where they can make an
adequate evaluation on their own. Even those who are qualified benefit immensely from a second professional, cold
and unbiased opinion.
Why Should You Get One?
If you own a relatively new boat or even an older boat that is in good shape, you feel safe that it's safe and you haven't
experience any particular problems, then an extensive costly boat survey probably is not needed.
What is a Certification of Value?
It's a written, certified, notarized, certificate of appraisal. A document that assigns a value to a boat at a given time and
location. Unlike automobile values that depreciate at a predetermined rate. Unlike real estate that is influenced by
neighborhood, land values and age deprecation. Yachts and boats have been know to increase in value like fine wines
and violins.
So many people own expensive boats but do not have documentary proof of their value. That is like having a bank
account and not knowing it’s value. When a large amount of money has been placed in anything for a period of years, a
person should have something in writing to indicate the value of that item at some given point in time within that
investment period. This is also known as, keeping an accountable record of you assets. Not just a sales slip that includes
commissions, overhead expenses, taxes and whatever else that has nothing to do with the boats market value. Common
knowledge tells you that you need a value in writing and not any value.
Why Should You Get One?
Value-A-Boat can provide proof of value which will protect you from the following, discriminations, poor judgments,
lack of knowledge, vindictive attitudes and other problems. Here is a list of the most common ones. Income tax
valuation and deprecation, domestic and probate courts, personal property assessments, bail bonding collateral, buying,
selling, trading, insurance disputes, making or dissolving partnerships, writing of wills, financing, line of credit
increase, refinancing, damage estimates, eliminate a costly boat survey when all you want or need is just to get a
boat's value range and which will give you peace of mind.
Eugene J. Yung CFA CAE IAAO
owner Value-A-Boat
and Webmaster
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