54′ CT54 sailboat

54 ct sail

C & V SURVEY
Condition & Valuation

Client: Removed for privacy
Date of report: September 15th 2009
Our file #: Removed for privacy
Location: Removed for privacy
Date of inspection: September 9th 2009

VESSEL DESCRIPTION

Builder: Ta Chiao
Model/type: CT 54
Year: 1979
Length: 53’ 7” *
Draft: 6’ 6” *
Beam: 15’ 1” *
Doc. #: Removed for privacy
Name: Removed for privacy
HIN: Not on hull
Engine/MFG: Ford Lehman
H.P. per: 120
Serial numbers: Removed for privacy
Type of instal. : Diesel, 6-cylinders, freshwater cooled, inboard
Generator: Panda 8 KW

* BUC Used Guide Book Hailing Port: Removed for privacy

HULL & STRUCTURE

The vessel was inspected while afloat. Hull construction material is molded fiberglass. Deck and above deck structures are constructed of molded fiberglass. Coring is unknown. Bulkheads are constructed of plywood. Overall condition of the hull structure appears satisfactory with no fractures or delamination of fiberglass tabbings sighted. The vessel’s weight is 57,000 lbs. *. Exterior rails and hardware appear satisfactory. Masts, mast steps, standing rigging and chain plates, where visible, appear satisfactory. Lower standing rigging has been replaced and the client reportedly has order the mechanical fittings for replacement of the remaining standing rigging. He intends to have all standing rigging replaced prior to cruising. Cosmetic condition of vessel appears satisfactory externally and satisfactory internally. Vessel’s external colors are white with green stripes. Below waterline through hull fittings appear satisfactory with no significant corrosion but the unused through hull to starboard of the rudder is not capped. The vessel is equipped with one manual and two electric/automatic bilge pumps that appear satisfactory but the automatic switches were not tested. The bilge is holding minimal standing water. The ventilation system consists of natural ventilation and appears satisfactory. General housekeeping appears satisfactory.

Summary: Satisfactory

MACHINE SYSTEMS

Engine external surfaces appear satisfactory and exhibit no significant corrosion. Engine hour meter exhibits 1236 hours. Motor mounts appear satisfactory. Cooling system appears satisfactory. Fuel system and components appear satisfactory. Exhaust system and components appear satisfactory but hose clamps are corroded at the water lift. Electrical system and components appear good. Engine control system appears good and shaft log appears satisfactory – good. Steering control system appears good and rudder port appears satisfactory but the rudder packing is weeping. Propulsion components were not inspected externally. Generator surfaces and motor mounts appear good. Generator’s peripheral components and systems appear good except the raw water pump exhibits signs of leaking and the exhaust mixing elbow is corroded. Waste system and components appear satisfactory. General service seawater systems appear satisfactory.

Summary: Satisfactory

FUEL SYSTEM

There is 330 gallon capacity in three stainless steel tanks located outboard of engine. Fuel tank surfaces, where visible, appear satisfactory and the securing mechanism appears good. The fuel fill, vent, feed and return lines and components appear satisfactory – good. Fuel shutoff valves are located to starboard in the engine compartment and appear good.

Summary: Satisfactory – Good

ELECTRICAL SYSTEMS

The AC shore cord, inlet and connections were not separated for inspection. The AC wiring and outlets appear good and are equipped with G.F.C. I. The AC main feeds are protected with circuit breakers. Battery arrangement appears good. Batteries are equipped with a disconnect switch. DC wiring appears good. Circuit protection for the AC and DC branch system appears good – excellent. Wire terminations and connections appear good. Wire organization and arrangement appears satisfactory.

Summary: Good

SAFETY AND LIFE SAVING

Vessel has four portable fire extinguishers with current and two with expired certification. Vessel has one fixed fire suppression system with expired certification. The safety components include: fifteen PFDs and two throwable PFDs; distress flares with current certification; one life raft with expired certification; suitable first aid kit; four anchors with chain rode and appears good. Navigational and anchor lights appear good. Other safety equipment includes: 406 EPIRB, handheld spotlight, tapered bungs, jacklines, safety harnesses, Bosn’s seat, rigging cutters, storm sail, sea anchor, propane vapor alarm, bilge pump cycle counter, MOB pole and dive tanks

Summary: Good

LP GAS SYSTEMS

Vessel is equipped with LP gas that fuels the range. Tank’s external appearance is good and they are properly secured. Ventilation appears good. Tank valves were opened and an odor was not noticed. Feed line is equipped with a reducing regulator, a pressure gauge and an electric shutoff solenoid and feed lines appear satisfactory.

Summary: Satisfactory – Good

DOCKING

The vessel was inspected at its normal slip location. Line condition and arrangement appears satisfactory. Boarding hazards appear insignificant. All entry points are reportedly kept locked. Other security consists of marina personnel.

Summary: Satisfactory

ELECTRONICS, TENDER(S), ACCESSORIES

Accessories include: Husky portable air compressor, Dewalt table saw, 17 GPD water maker, Chelsea bronze clock and barometer, Jensen MDC-9645W stereo, Jensen CH600U CD changer, Wema tank monitor, Heart Freedom inverter/charger monitor, Oregon Scientific weather station, AC/DC voltmeters, Princess 3-burner range/oven, Sharp Carousel microwave, top load refrigerator/freezer, double basin stainless steel sink, Heart Freedom inverter, Caribe tender HIN EMD12070F999, Honda 25-hp outboard 3000413, canvas sail covers, spinnaker pole, ten Spinlock sheet clutches, Hobie Trimaran kayak, four dorade vents, five teak framed deck hatches, Lofrans electric windlass, teak bow pulpit, Harken roller furling jib, Barlow winches: three # 28, one # 26, one # 616, one Andersen # 48, one Norco 30 and one Maxwell # 20, stainless steel rail mount BBQ, stainless steel framed bimini, wind generator, 75 watt solar panel, rigid boom vans, hardtop dodger, three wooden deck boxes, stainless steel davit with electric winches, Robertson AP300X autopilot, Autohelm Tridata, Autohelm wind point/speed, Weema rudder position indicator, Raytheon NAV 398 GPS/Loran, Ritchie Powerdamp compass, Garmin 3210 GPS/radar, Uniden UM625C VHF, Kenwood TS-50 HF radio, A.P.C. energy monitor

SUMMARY

The vessel is a fiberglass production ketch rigged blue water cruiser equipped with an auxiliary power diesel engine. The client reportedly purchased the vessel ten years ago and has upgrades including; davit system, tender and outboard, removed teak decks and fiberglassed/non skidded surfaces, rebuilt engine, replaced generator, new refrigeration system, stove, re-built distribution panel, built a hard dodger, BBQ, solid boom vang and built deck storage boxes. The client reportedly has had no claims. The client is knowledgeable of all vessel systems and does have a good inventory of various spare parts. The vessel is structurally sound and suitable for its intended purpose as a pleasure cruising vessel.

Overall Summary: Satisfactory – Good

VALUES

ACTUAL CASH VALUE – $170,000

NEW REPLACEMENT VALUE – $850,000

INVESTMENT – $250,000

The actual cash value is the value that our research approximates the selling price of this vessel should be, at the time and place of our inspection. The actual cash value is best determined by a thorough market search to determine what vessels are available on the market, followed by negotiations between the interested parties. Consideration is given to vessel’s condition, geographic location, published listings and guides, comparable sales and listings, and market conditions. The new replacement value is the cost of this or a similar, new vessel, comparably equipped. The investment is the reported investment including purchase price and significant upgrades. No values include maintenance costs, storage or tax.

C & V Form Key: All systems are rated based upon their appearance, ratings include: Not examined, Not applicable, Faulty, Marginal, Satisfactory, Good, Excellent.

RECOMMENDATIONS

1. Mechanically cap the unused through hull adjacent to the rudder port.
2. Service to eliminate weeping water from the rudder seal.
3. Replace corroded hose clamps on the engine exhaust at the water lift muffler.
4. Service to eliminate leaking of the generator’s raw water pump.
5. Replace the generator’s exhaust mixing elbow due to corrosion.
6. Separate the shore power cord from the vessel and shore connections, inspect for corrosion/heat damage and service if/as required.
7. Certify the automatic fire extinguisher per N.F.P.A. recommendations.

NOTES

1. The life raft and E.P.I.R.B. are expired. Client intends having them re-certified prior to departure.

This survey sets forth the condition of the vessel and components, as specifically stated only, at the time of inspection and represents the surveyor’s honest and unbiased opinion. The submitting of this report should not be construed as a warranty or guaranty of the condition of the vessel, nor does it create any liability on the part of Christian & Company or the individual surveyor. No part of the vessel was disassembled or removed and no assumptions should be made as to the condition of concealed components. Specifics were obtained from sources available at the time of inspection and are believed correct, but are not guaranteed to be accurate. This inspection was performed for the expressed purpose of obtaining insurance, and should provide the information necessary for underwriting purposes, if any additional information is required, please contact the undersigned. This survey report is not intended for use as a “buyer’s survey”.

Christian & Company, Marine Surveyors, Inc.

________________________________ September 15th, 2009
By: Mr. George Jarvie, Surveyor Date
S.A.M.S. – A.M.S. # 941