Boat Valuation Surveys
A valuation survey provides an independent assessment of a vessel’s current market value. It is commonly required for insurance purposes, when buying or selling, for finance or legal matters, or simply to establish an accurate figure for planning purposes.
How valuations are assessed
Valuations are based on the vessel’s condition, specification, age and current market conditions, with reference to average retail values achieved by comparable craft of similar type and condition. A valuation represents a professional opinion rather than a statement of fact, and assumes a willing buyer and a willing seller at the time the valuation is carried out.
It is important to note that market value and replacement value are not the same figure. Replacement value may be substantially higher, particularly for rare or unusual vessels, and owners should ensure their insurance cover reflects this distinction.
Why an independent valuation matters
An accurate, independent valuation ensures a vessel is neither underinsured nor overvalued when presented for sale or finance. It provides a credible, documented figure that can be used with confidence by owners, insurers and buyers alike.
