C & V SURVEY
Condition & Valuation
| Client: Removed for privacy | Date of report: August 19, 2022 |
| Current owner: Same as client | Our file #: 22 – 20417web |
| Location: Spanish Landing
3900 N Harbor Drive |
Date of inspection: April 13, 2022 |
| San Diego, CA 92101 |
Scope of Services
The vessel was examined by the surveyor and/or surveyor’s agents from all accessible areas of the interior without removal of secured panels, destructive testing or disassembly. The hull bottom laminate, plating and/or planking was examined by percussion sounding and visual inspection only. No moisture content readings were taken, and no destructive testing was performed. The surveyor may have used a moisture meter if/when they deemed it useful or if specifically requested by client. Exterior hardware was visually examined for damage and drive components were tested by sight only. The inspection of engines, generators, machinery and related mechanical systems is not within the scope of this survey. Only a brief cursory inspection of the machinery was conducted, and no opinion of their overall condition was formed. Client shall retain the services of a qualified mechanic, engine surveyor or other expert to inspect such engine, generators, machinery and related mechanical systems. Tankage was inspected from visible surfaces only and no opinion was rendered as to their overall condition. On sailing vessels, the rig was not inspected aloft, nor were sails inspected unless they were visible during a sea trial. Client shall retain the services of a qualified rig surveyor or other expert to inspect sails, rigging and equipment. The electrical system was visually inspected where accessible, and electronic and electrical components powered only with permission of or in the presence of the vessel’s owner or agent. No in-depth testing or examination of the electrical system or electric schematic was conducted. Specifications were taken from published sources, measurements if made, should be considered approximate. The recommendations are based on federal and state regulations, industry standards, and/or surveyor‘s own personal experience. The market value is based on research of available new/used comparable vessels, with consideration of geographic area where the vessel is located and reported sale prices where available. The surveyor will refer to and may reference CFRs, NFPA and ABYC recommendations (and/or other services) as the surveyor deems reasonable but not all regulations and recommendations will be applied nor should this report be relied upon as full compliance with the aforementioned entities. Every vessel inspection is different, and limitations may alter the scope of this survey, some limitations will be implied in the text of the report and some will be explicitly detailed. A Marine Survey Agreement which is reviewed and signed by the client details the terms governing this marine survey.
VESSEL DESCRIPTION
| Builder: Manuel Gunlarte * | Reg. #: Removed for privacy |
| Model/type: Gaffrig sloop | Name: Removed for privacy |
| Year: 1894 | Engine: None |
| Length: 41’ / 29’ | HIN: None |
| Depth: 2’ 9” / 9’ (centerboard down) | * prior marine survey |
| Beam: 9’ |
| HULL & STRUCTURE | |
| The vessel was inspected while hauled. Hull construction material is wood plank on frame with apparent bronze screw fasteners. Deck is constructed of wood and above deck structures are constructed of wood. Bulkheads are constructed of wood. Overall condition of the hull structure appears excellent. The vessel’s weight is unknown. Exterior rails and hardware appear excellent. Mast, mast step, standing rigging and chain plates, where visible, appear satisfactory, pending stepping and rigging. Cosmetic condition of vessel appears excellent externally and good internally. Vessel’s external colors are red anti-fouling paint, clear coated hull sides with white accent stripe and beige deck with white accents. The vessel is equipped with three Rule submersible electric / automatic bilge pumps pending installation and the bilge is clean and dry. The ventilation system consists of natural ventilation and appears good. General housekeeping appears good. |
| Summary: Good – Excellent |
| STEERING SYSTEMS |
| Steering control system appears good. |
| Summary: Good – Excellent |
| ELECTRICAL SYSTEMS |
| Battery and wiring installation is pending. |
| Summary: N/A |
| SAFETY AND LIFE SAVING |
| Vessel has no portable fire extinguishers. The safety components include: two adult type I and four adult type II PFDs and one life ring throwable PFD; distress flares were not seen; 10 kg Claw anchor with chain and line rode that is pending installation. Vessel has no navigational or anchor lights. Vessel has no oil or waste placards and waste management plan. |
| Summary: Faulty |
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ACCESSORIES |
| Bow sprit, center board, tiller handled transom hung rudder, wooden mast, tabernacle mast step, two sails made 1992 (not aboard) |
| SUMMARY |
| The information available was reported by removed for privacy and provided on a 1967 marine survey. The vessel was reportedly built to sell food to ships visiting San Diego. The client acquired the vessel in the 1960s or 70s. It was reportedly restored and sailed briefly in 1992. It became an exhibit. It suffered from dehydration and a restoration was begun in 2018 and mostly completed in 2020. The progress was paused by the COVID pandemic. The restoration has been restarted, the vessel was reportedly floated on its trailer for 1.5 hours in the recent past and there was minimal water intrusion.
The client intends to complete the installation of electric automatic bilge pumps and the electrical/battery system. They intend to step the mast and install the rigging just prior to launching the vessel. Photographs and the description of the restoration and the appearance of the vessel indicate that all of the frames and planks are new. The deck and cabin were rebuilt. The planks were fastened to the frames with silicon bronze screws. The exterior has been painted, there is nonskid particle paint on the deck, a clear coat on the hull sides and antifouling paint on the bottom. The vessel is in excellent structural condition. There is no engine. The Maritime Museum intends to utilize a tender for assistance in close quarters maneuvering.
There are very few original components on the vessel. The 2000 pound ferrous metal keel is reportedly original. Some of the other fittings including the gudgeons, pintles, and bob stay / stem fitting are apparently original.
The mast was rebuilt previously, not during this refit. The rigging is new.
Upon completion of the primary recommendations and intentions reported by the Maritime Museum, successful stepping and rigging of the mast and successful sea trial, the vessel should be suitable for its intended purpose as a coastal cruising vessel with the aid of a tender to compensate for there being no means of propulsion except the sails. |
| Overall Summary: Good |
Standard form key: We use subsection and overall ratings to summarize conditions found, based upon their appearance. Ratings include: Not examined, Not applicable, Faulty, Marginal, Satisfactory, Good, Excellent.
VALUES
| ACTUAL CASH VALUE | NEW REPLACEMENT VALUE | INVESTMENT |
| Removed | Removed |
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. 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. The most relevant data found while researching the value is included below. We primarily use market value analysis methodology for determination of value.
Explanation of value opinion: The value is based on the soldboats.com reported sale prices and the yachtworld.com asking prices below. The data was reviewed for the more comparable style boats and boats with recent restorations. While there are no close comparables and we did not exhaust all search options, the value is close to what we believe a buyer would pay once the primary recommendations are complete.
| Length ft | Boat | Year | Sold Date | Listed Price | Boat Location |
| 34 | Herreshoff Fishers Island 23 | 1932 | 1-Apr-22 | 135,000 | Plattsburgh, NY, USA |
| 34 | Sparkman & Stephens Nevins Sloop | 1939 | 10-Dec-21 | 69,500 | Rockland, ME, USA |
| 36 | Sparkman & Stephens 6 Metre | 1931 | 28-Apr-21 | 71,836 | Bursledon, Hampshire, United Kingdom |
| 30 | Hinckley Pilot Sloop | 1957 | 4-Dec-20 | 65,000 | Long Beach, CA, USA |
| 40 | Sparkman & Stephens Nevins 40 | 1955 | 18-Nov-20 | 79,000 | West Haverstraw, NY, USA |
| 39 | Concordia Yawl | 1956 | 10-Jul-20 | 89,500 | Manchester by the Sea, MA, USA |
| 36 | Custom Sam Crocker Yawl | 1946 | 19-Mar-20 | 59,000 | Thomaston, ME, USA |
| 39 | Concordia Fractional Rig Yawl | 1956 | 15-May-20 | 89,000 | Manchester by the Sea, MA, USA |
Rhodes Super 27 Sloop
South Bristol, Maine, United States
Port Townsend, Washington, United States
Sparkman & Stephens Brasil & Makinac Class Sloop by Fisher Boat Works
Havre de Grace, Maryland, United States
Newport, Rhode Island, United States
Alden Burbach Cutter 38
Whitehall, Michigan, United States
Torresen Marine, Inc. – The Sailboat Specialists
Custom BB Crowninshield Yawl
Harpswell, Maine, United States
Custom Crocker Ketch
Rockport, Maine, United States
Alden 36
Sidney, British Columbia, Canada
Hinckley Sou’Wester 34
Brooklin, Maine, United States
Sparkman & Stephens 33 Sloop
Waukegan, Illinois, United States
Custom Northern Michigan NM
Harbor Springs, Michigan, United States
Irish Boat Shop – Harbor Springs
Herreshoff Buzzards Bay 25
Round Pond, Maine, United States
Dragon International Dragon
Bristol, Rhode Island, United States
Hillyard 28 Wood Sloop
Alameda, California, United States
Winslow Four-Sum
Westport Point, Massachusetts, United States
This survey is for the express purpose of insurance and/or financing. It is not meant as a buyer’s survey.
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RECOMMENDATIONS |
| These recommendations are the surveyor’s ideas and suggestions for addressing deficiencies with damaged or suspect components or systems found during survey or general improvements. The primary recommendations address safety items, structural issues, operational issues or deficiencies which the surveyor determines are of greater importance or more expense than secondary deficiencies. For instance, items that pose a risk to passenger safety or immediate property damage are listed under primary deficiencies and cosmetic concerns are addressed under secondary deficiencies. Most of the recommendations have been addressed in the comments and usually they are discussed at the time of the inspection. |
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PRIMARY |
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| SECONDARY |
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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. 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.
I/we certify that, to the best of my/our knowledge and belief:
The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my/our personal, unbiased professional analyses, opinions, and conclusions. I/we have no present or prospective interest in the vessel that is the subject of this report, and I/we have no personal interest or bias with respect to the parties involved. My/our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. I/we have made a personal inspection of the vessel that is the subject of this report. This report should be considered as an entire document. No single section is meant to be used except as part of the whole. This report is submitted without prejudice and for the benefit of whom it may concern. This report does not constitute a warranty, either expressed, or implied, nor does it warrant the future condition of the vessel. It is a statement of the condition of the vessel at the time of survey only. The submitting of this report creates no liability on the part of Christian & Company or the individual surveyor. This survey report is not intended for use as a “buyer’s survey”.
Christian & Company, Marine Surveyors, Inc.
August 19, 2022
________________________________ __________________
By: Mr. Kells Christian, Surveyor SAMS – AMS #301 Date
August 19, 2022
__________________________________ __________________
By: Mr. Kells Manthei, SAMS SA Date