C & V SURVEY
Condition & Valuation
Client: Removed for privacy
Date of report: April 16th 2007
Our File #: 07-25594
XXX Street Afloat: April 13th 2007
XXXX, CA 91910
Date of inspection: March 29th 2007
Model/type: Racing Trimaran
Length: 60’ *
Draft: 12’ 6” *
Beam: 45’ *
Hailing Port: Not on hull
Name: Removed for privacy
HIN: Removed for privacy
Reg. #: Removed for privacy
Engine/MFG: Volvo Penta
H.P. per: 35 (approx.)
Serial number: Removed for privacy
Type of instal. : Diesel, 4-cylinders, freshwater cooled, sail drive
HULL & STRUCTURE
The vessel was inspected while hauled and afloat. Hull construction is fiber reinforced plastic. Deck is constructed of fiber reinforced plastic. Coring material is unknown. Bulkheads are constructed of foam cored fiberglass. Overall condition of the hull structure appears excellent. The hull bottoms and beams were percussion sounded and there were no significant audible differences. There were no stress fractures sighted at hull to beam connections or interior framing. Exterior rails and trampoline appear excellent. Mast, mast step, standing rigging (stainless steel rod) and chain plates, where visible, appear good – excellent. Mast is constructed of carbon fiber. Cosmetic condition of vessel appears excellent externally and excellent internally. Vessel’s external colors are off white with a gray boot stripe. Below waterline through hull fittings appear excellent. The vessel is equipped with one manual and two electric/automatic bilge pumps that appear satisfactory and the bilge is dry. The ventilation system consists of one blower and natural ventilation and is currently being installed.
Engine external surfaces appear satisfactory and exhibit no significant rust, oil or coolant leaks. Engine hour meter exhibits 361-hours. Motor mounts appear good. Cooling system appears satisfactory but the seawater discharge hose in chafing on the water pump’s hose connection hose clamp. Fuel system and components appear good. Exhaust system and components appear satisfactory – good. Electrical system and components appear good. Engine control system appears good. Steering control system appears excellent and rudder ports appear good. Sail drive components appear satisfactory – good. Waste system and components appear excellent (new self contained head is being installed). General service seawater systems appear excellent (new water maker and through hull).
There is 20-gallon (approximately) capacity in one stainless steel tank located in lazarette. Fuel tank surfaces, where visible, appear satisfactory and the securing mechanism appears satisfactory. The fuel fill, vent, feed and return lines and components appear marginal – satisfactory as there is significant deterioration to the vent and supply hoses. Fuel shutoff valves are located at the tank and appear satisfactory.
Shore power is an extension cord to battery charger only. Battery arrangement appears satisfactory. Batteries are equipped with a disconnect switch. DC wiring appears good. Circuit protection for the DC branch system appears good. Wire terminations and connections appear good. Wire organization and arrangement appears good.
SAFETY AND LIFE SAVING
Vessel has three portable fire extinguishers with expired certification. Vessel has no fixed fire suppression system. The safety components were not on board during the inspection but equipment is reportedly new and includes: six person life raft and EPIRB with current certification, new PFD suspenders with whistles and strobe lights, new jacklines and tethers, MOB module and Solaris signal flares. As the vessel is scheduled for racing, it will conform to both Transpac and Ocean Racing Council safety requirements that far surpass U.S.C.G. requirements. Distress flares with current certification and two anchors with chain and line were aboard.
The vessel was inspected at its normal slip location. Line condition and arrangement appears insignificant. Boarding hazards appear insignificant. All entry points are reportedly kept locked. Other security consists of a gated marina.
ELECTRONICS, TENDER(S), ACCESSORIES
Accessories include: Garmin 182C chart plotter, Ockam Matrix system, Raymarine C80 GPS plotter, radar, video fathometer, ICOM IC-M45 VHF, single side band, satellite telephone (electronics were pending completion of installation at the time of the survey), Blue Seas 8248 multi-meter battery monitor, Spectra water maker, StatPower True Charge 20 battery charger, single basin sink, 2-burner butane range, Profurl roller furling, Harken winches: two # 74 racing, two # 64 and one # 74-3, kevlar sails: main, staysail, solent, downwind solent, light air down wind, reach, heavy reach
The vessel is a semi custom built trimaran built by Jeanneau and originally built for and used in the movie removed for privacy. The client reportedly purchased the vessel in 1998 and restored the vessel to its original design racing configuration. The vessel is undergoing upgrades including waste system, galley and water maker to conform to the Transpac (racing) requirements. New electronics were being installed at the time of inspection. The vessel appears structurally sound and suitable for its intended purpose as a long range competitive ocean racer.
Overall Summary: Good – Excellent
ACTUAL CASH VALUE – $400,000
NEW REPLACEMENT VALUE – $1,500,000
INVESTMENT – N/A
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.
1. Replace the fuel supply, vent and return hoses due to deterioration.
2. Provide chafe protection on the engine’s raw water supply hose at the raw water pump.
3. Assure all U.S.C.G. required safety equipment is aboard the vessel prior to use.
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.
By: Mr. George Jarvie, Surveyor