| Valuations are generally requested for the following purposes : |
| |
| Insurance : Some insurers may want the usual Current Market Value along with the Replacement Value which is the cost of replacing the yacht with a similar newly purchased one. Insurers requirements should be clarified at time of ordering a survey. |
| |
| Finance : The yacht purchase may be financed or indeed the yacht may be re-financed. |
| |
| Claims : The damaged value of the yacht may need to be clarified for an insurance claim. |
| |
| Generally I will try to do better than typical surveyors by collecting documents that support my valuation. I will do market research and collect broker listings for similar yachts. |
| |
| In the case of claims or for court purposes I may issue a valuation on the basis of documentation produced if requested. Like a previous survey would be useful. |
| |
| In the case of obtaining insurance or finance I would definitely have to make a condition survey on the yacht first. |
| |
