Valuation Reports are occasionally required by an insurer in circumstances were the value of a vessel is not clear or if the insurer believes a vessel to be over insured. A Valuation Report may also be required by a finance house when a client is obtaining a loan for the purchase of a vessel. In circumstances of shared or syndicate ownership of a vessel when one or more members wishes to sell their share, a current valuation may be required.
Marine vessel valuation surveys are often required for the courts to ascertain the value of the vessel for marine mortgages, yacht purchase, revaluing after a major refit, insurance purposes, and divorce proceedings. A valuation will consider the current market condition, general vessel condition, location, age, engine use, quality of build, inventory of installed equipment, and the selling price of similar vessels. We provide a comprehensive, written, independent market valuation statement and reports after the survey is completed on the boat.
A valuation will always be included in Insurance/Condition Surveys and Pre-Purchase Surveys however Shea Marine can provide a valuation in a stand alone Valuation Report if required. This involves an inspection of the vessels condition which can be carried out at any location in Ireland.