[wannatiara]

On the Eastern Shore of Maryland, does anyone have any recommendations on companies that do surveys? What is involved in a good Survey?
What sites can I visit to get a base value on a boat..
Thanks

[Chris Burkard]

I do not know any surveyors in Maryland, but any good broker can give you a base value on a boat.

Here is what I do to figure the value of a boat.

Note: Book values are nearly worthless, especially for low production vessels such as Tiara. They use a depreciation schedule that tends to overvalue high production vessels and undervalue low production vessels. The information contained in these books also tends to be outdated. They usually compile the information 12 to 24 months prior to publication.

1) Pull up all of the like vessels that are listed on yachtworld (In the U.S. only if you are looking at a U.S. boat - European and South American markets are worthless for figuring the value of a vessel here in the States). I always pull up 2 years on either side of the vessel that you are looking at. (If you are looking at a 2008 Tiara 39 Sovran, pull up all 39 Sovrans from 2006 to 2010. It just so happens that you will not find any 2006 Tiara 39 Sovrans as the first model year of production was 2007.) Engines can make a large difference in the pricing. Make sure to eliminate the vessels that do not have engines you are considering. Also consider expensive options. If you want a generator, there is no sense in comparing vessels that do not have generators. A 5 kw diesel generator can add $14,000.00 to the price of vessel.

2) Open each listing and compare equipment, condition, hours, asking price and location. Make yourself a spreadsheet to organize the listings and information.

3) Contact a reputable broker or dealer and have them run a Sold Boats search. Ask them to search for the model (with the correct engines and equipment) you are cosidering two years on each side that have sold in the last 12 to 18 months. Take this information with a grain of salt. This information is only as good as the dealers and brokers that provide that information when a vessel was sold. If the vessel was listed for $300,000.00 and sold 9 months later for $300,000.00, I am almost 100% positive the sold figure is not accurate. Average this information out (drop the high and the low and average out the middle if there are enough vessels sold to compare). Compare this to the vessels currently for sale and the asking prices. For Tiaras, there should be between a 10 and 20% swing in asking and sold prices.

With this information, you now have a good idea of what the value of the model you are currently looking for.

Pleasure vessels are not rational purchases. Do not get too hung up on averages. If you find a vessel you really like and it is very clean with all of the equipment you want, you may have to pay a little more than the average. In the end, the value of a vessel is what the owner is willing to sell it for and what a buyer is willing to pay. Tiaras are very low volume high quality vessels. Condition, equipment, engines, hours and geographic location can swing the prices by as much as 20%. California vessels tend to be higher priced due to their location, then consider the cost to ship the vessel. It is always best to purchase a vessel closer to you unless what you are looking for does not exist in your local market.

[Dazzle]

Check the Boat\US site for surveyor. You may also want to check with your insurance company; some insurance companies will not accept a survey if the individual does not have specific credentials.

Contact a few surveyers and ask a lot of questions.

Hope this helps. Best of luck.