A value with clear reasoning
For insurance, purchase, sale or another valuation purpose, you want to know what a value is based on. As a VRT Registered Valuer, I agree the purpose and required basis of valuation with you beforehand.
What do I consider?
- Make, type, year of build, material and dimensions.
- Specification, equipment, systems and relevant modifications.
- Observable maintenance condition and available documentation.
- Relevant market information and comparable yachts, where available.
Insurance valuations
Please explain your insurer’s requirements and the intended use of the report beforehand. An asking price or sale price is not necessarily the value required for a particular insurance policy. The assignment determines which value is assessed.
Valuation and technical inspection
A valuation serves a different purpose from a full pre-purchase survey. If you also need a detailed assessment of structure and systems, I can propose an additional inspection.
Preparation
Where possible, send specifications, an inventory, photographs, maintenance records and details of previous modifications. Following the inspection, I record the assumptions, findings and valuation in the report.