The Purchase Survey is the most extensive of all inspections. We will provide a comprehensive report which describes all areas of the yacht being purchased. The entire vessel is thoroughly inspected- the bottom and underwater gear during haul-out- the superstructure – the interior, all accessed in a non-destructive manner, are inspected and all onboard systems are inspected and tested if possible. The report will reference American Boat and Yacht Council, National Fire Protection Association and US Coast Guard standards. Any recommendations are clearly defined. Market value, replacement cost and general remarks regarding the overall condition of the yacht are included.
The insurance survey is performed for current owners, usually at the request of an insurance company for policy renewal. Finance companies accept this survey for financing. This survey is sometimes referred to as a “condition and value” survey and determines the apparent seaworthiness of the yacht, whether or not it remains a good insurable risk and value. The report may include recommendations relative to the insurability.
An appraisal is an inspection of a yacht to determine the current fair market value. All equipment, options, general maintenance, overall condition and the current market conditions are all considered when determining the fair market value.