Valuations for Commercial and Recreational Vessels
- Fair Market Valuations
- Forced Sale or Auction Valuations
- Agreed Valuations for Insurance Purposes
- Progress Payment Certifications
Marine Matters provides financial institutions, liquidators, Australian customs, insurers, divorcing couples, and accountants with vessel valuations. They request valuations such as ‘Market Value’, Auction or Forced Sale Value’, ‘Agreed Value’, and values before and after marine incidents.
There are published guides for values of smaller, popular, production line vessels but there is no published data base of sale prices for most vessels sold in Australia. Listed asking prices for boats for sale on websites are generally higher than the actual selling prices and the listings are difficult to compare unless they include an extensive description of the vessels for sale.
Marine Matters’ valuers inspect the vessel to be valued and take photographs of items that are relevant to the value. They then do a search of records of vessels in the Marine Matters archives and in our collections of boating magazines and boat reviews. They check listings of similar vessels being offered for sale on websites, and contact brokers, builders, and repairers, for other relevant information. Finally they use their extensive knowledge of repair and maintenance costs, and construction standards, to estimate a value based on the type of valuation required such as Fair Market Value.
Marine Matters provides a Valuation Report which includes a description of the vessel, an assessment of the vessel’s documentation, and an estimated value, based on the instructions received. Our Valuation Reports do not include a description of the vessel’s condition, nor a copy of any listings of similar vessels offered for sale, although the valuer will take these into consideration. A separate Condition Report can be provided if required.
OUR SERVICES
Condition Reports
Marine surveyors are only able to visually inspect the accessible areas of the vessel but most surveyors also use a small hammer to sound the structure, and moisture meters to check for relative moisture levels in FRP composite and timber structures, weather permitting. Infra-red thermal imaging cameras can also be used to detect moisture in these materials. Specialists can non-destructively test (NDT) metal materials for thickness, and welds can be x-rayed, or tested for cracks and porosity with liquid dye penetrene. Engines can be checked using oil analysis kits. Some purchasers also obtain separate reports from other specialists such as engine technicians, marine accredited electricians, and mast, spars, and rigging manufacturers...
Domestic Commercial Vessels
Domestic Commercial Vessel registration is very complex and changes are often made so this information should be used as a guide only. The Australian Maritime Safety Authority web site, in the section titled ‘Domestic Commercial Vessels’, has many excellent Guidance Notices for vessel owners and operators regarding the Certificate of Survey and the Certificate of Operation, and also has copies of all the AMSA Forms that need to be submitted for these Certificates, or for the annual renewal of these Certificates...
Valuations
Marine Matters provides financial institutions, liquidators, Australian customs, insurers, divorcing couples, and accountants with vessel valuations. They request valuations such as ‘Market Value’, Auction or Forced Sale Value’, ‘Agreed Value’, and values before and after marine incidents.
There are published guides for values of smaller, popular, production line vessels but there is no published data base of sale prices for most vessels sold in Australia. Listed asking prices for boats for sale on websites are generally higher than the actual selling prices and the listings are difficult to compare unless they include an extensive description of the vessels for sale...
Consultancy
Clients, who are having a vessel constructed, or their finance companies, are able to consult with Marine Matters and the builders to develop a plan for payments at mutually acceptable stages of the construction. When a payment is due, a Marine Matters’ surveyor checks the construction to ensure the stage has been completed. Compliance with the specifications and the construction standards, as well as the quality of the construction, may also be included in the report if required...
Other Inspections
New Build Progress Reports
Banks and other lenders appoint marine surveyors to certify that a vessel has reached the stage of construction required for a Progress Payment. Marine Matters is accepted by most Australian Financial Institutions for this type of inspection.
Maintenance, and Scope of Work, Lists
Marine Matters surveyors are able to prepare a ‘Scope of Work’ list, for repairs or maintenance, which can be used to obtain quotes for the repairs or maintenance. Some vessel owners have this done before they put their vessel on the market.
