Tuesday, May 25, 2010

APPRAISING BOATS-THE DIFFERENCE BETWEEN AN APPRAISER AND A MARINE SURVEYOR

APPRAISING BOATS IN FLORIDA

FORT PIERCE, Florida - Most of the requests we receive for boat appraisals involve smaller craft, usually under 30 feet long. The reasons for the assignments range from insurance underwriting to divorce settlements. Mega-yachts and commercial vessels are generally appraised by marine surveyors who have specialized knowledge necessary to establish both value and seaworthiness. These types of companies, however, cost much more than appraisers. Here in Florida there are more different types of boats and personal watercraft than anywhere else in the world. Despite the fact that anyone can call himself a marine surveyor and open a business, I've found that most of the gentlemen to be credible. Many of them are boat builders or designers themselves. But to hire a marine surveyor for a small boat or personal watercraft appraisal is like engaging a heart surgeon to remove a wart. Why pay big bucks for such a little job? Large damage claims or oversight of repairs or construction are jobs for marine surveyors. Valuation appraisals of small to mid-size pleasure boats are jobs for appraisers.

Appraising boats to determine their value entails not only a knowledge of the subject vessel but the ability to research it properly. Research takes time and it is what you are paying for. An appraiser charges between $75-$125/Hour while marine surveyors can cost five times that. Most insurance companies and banks require appraisals on older boats so shop wisely because it is you who is paying for the report, not the bank. If you need an oil-analysis test, by all means call a marine surveyor. If you need to know the value of a boat, call The St. Lucie Appraisal Company.

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You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral,
Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

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Keywords for this article: APPRAISAL, APPRAISER, boat, FLORIDA, marine survey, personal watercraft, St Lucie Appraisal 


Revised 08/29/2012
Updated 06-20-2013
Updated 09-11-2013