Appraisal
| Client: Mr. Removed for Privacy | Date of report: June 2, 2021 |
| Current Owner: Removed for Privacy | Our file #: 21 – 20098web |
| Location: San Diego, CA | Date of inspection: May 28, 2021 |
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.
| Builder: Sea Ray | Engine: Two Volvo |
| Model/type: 27 / express cruiser | H.P. per: Unknown |
| Year: 1982 | Type of instal. : Gasoline, six-cylinders, raw water cooled, outdrives |
| Length: 27′ 10″ | Serial numbers: Not seen |
| Beam: 8′ | Generator: None |
| Name: “Removed for Privacy” | Hailing port: None |
HULL & STRUCTURE
The vessel was inspected while trailered. Hull construction material is molded fiberglass. Deck is constructed of molded fiberglass and above deck structures are constructed of molded fiberglass. The windows on the cabin top are “peeling out” of the cabin top. Coring is unknown. Bulkheads are constructed of plywood. Overall condition of the hull structure appears satisfactory. The vessel’s weight is unknown. Exterior rails and hardware appear satisfactory. The boarding ladder’s fasteners are pulling out of the swim platform. Cosmetic condition of vessel appears satisfactory – marginal externally and marginal internally. Vessel’s external colors are white with two blue boot stripes. The vessel is equipped with two submersible automatic bilge pumps in the engine room that appear faulty and the bilge is holding water. The sole hatch aft in the salon has rotted. The ventilation system consists of two blowers and natural ventilation and
appears marginal. General housekeeping appears marginal.
Summary: Marginal – Satisfactory
MACHINE SYSTEMS
Engines’ external surfaces appear satisfactory – marginal and exhibit moderate rust. The client reported he had a mechanic inspect the engines and reportedly the engines are seized (reported, not verified). The raw water pumps on both engines are rusted. Engine hour meters exhibit P – 1,326.4, S – 1,274.1 hours. Motor mounts appear satisfactory. Cooling systems appear marginal – faulty. Fuel systems and components appear marginal – faulty. Exhaust systems and components appear marginal – faulty. Electrical systems and components appear marginal – faulty. Engine control systems appears faulty; the push-pull cables are seized. Steering control system appears faulty. Outdrive components appear marginal – faulty. Waste system and components appear
marginal. General service seawater systems appear marginal.
Summary: Faulty – Marginal
FUEL SYSTEM
There is unknown capacity in one metal tank located forward of the engines. Fuel tank
surfaces, where visible, appear satisfactory, and the securing mechanism appears good. The fuel fill, vent, feed lines and components appear marginal. The fuel feed hoses are
cracked. Fuel fill to tank bonding appears satisfactory. Fuel shut off valves were not seen.
Summary: Satisfactory – Marginal
ELECTRICAL SYSTEMS
The AC shore cord, inlet and connections appear satisfactory. The AC wiring and outlets appear satisfactory. The AC main feed is protected with a circuit breaker. Battery arrangement appears satisfactory. The batteries have no power. There are wing nuts on the batteries’ terminals. Batteries are equipped with a disconnect switch. DC wiring appears satisfactory. Circuit protection for the AC and DC branch system appears faulty. The wood around the electrical distribution panel has rotted and the panel has fallen forward. Wire terminations and connections appear satisfactory. There is heat damage at a bus bar port forward in the salon. Wire organization and
arrangement appears satisfactory.
Summary: Marginal – Satisfactory
SAFETY AND LIFE SAVING
Vessel has two type B:C size I (1996) by the companionway door portable fire extinguishers. Vessel has no fixed fire suppression system. The vessel includes no CO alarms. The safety components include: no PFDs and no throwable PFDs; no distress flares; no life rafts; no suitable first aid kit; one West Marine and traditional 13 anchor with chain and line rode that appears satisfactory. Navigational and anchor lights
appear satisfactory. Vessel has oil and waste placard.
Summary: Faulty
STORAGE
The vessel was inspected at its storage location. Boarding hazards appear insignificant.
Summary: Satisfactory
ACCESSORIES
Bimini top, swim step, boarding ladder, ProMariner ProTech 1220i battery charger, UP MFJ – 860 SWR watt meter, engine instrumentation includes two hour meters, two tachometers, two oil pressure gauges, two hour meters, two tachometers, two oil pressure gauges, two water temperature gauges and two volt meters, “rudder” angle indicator, two drive trim indicators, helm bench, oil placard, dinette, aft berth, head includes Porta-Potti head and sink, galley includes sink and Norcold DE – 2510 refrigerator, Optimus speakers, Optimus AM / FM cassette receiver, electrical distribution panel includes main and branch AC circuit breakers and AC volt meter, Bycool overhead air conditioner
SUMMARY
The vessel is a molded fiberglass express cruiser equipped with two gasoline inboard engines with outdrives. The client reported that he purchased the vessel recently from storage. He reported that the previous owner had hauled the vessel out of the water and stored the vessel on a trailer; the vessel has reportedly been stored, untouched on a trailer for 10 years. He reported that he had a mechanic examine the engines and outdrives and noted the engines are seized and the outdrives are in poor condition. He reported that the push-pull cables are seized for the engines and outdrives. He reported that the bilge access in the salon has rotted. He reported that the batteries are dead. The vessel was inspected while on a trailer. The engines were not test operated and no sea trial was performed. The vessel has many issues, and upon completion of the recommendations should be suitable for its intended purpose as a near coastal cruising vessel.
Overall Summary: Marginal
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 average sale price of similar vessels on Soldboats.com is $8,807 and the average current listing price of similar vessels on BoatTrader.com is $10,161. The vessel’s machine systems are faulty. The vessel is in poor condition for its age showing extensive deferred maintenance. The comparable data on Soldboats.com and BoatTrader.com have working engines. The data from Soldboats.com has factored in the demand and value spike attributed to Covid-19.
| Length
in ft |
UOM |
Boat |
Year |
Sold Date |
Sold
Price |
Listed
Price |
Boat Location |
|
27 |
ft |
Sea Ray 270
Sundancer |
1984 |
15-May-21 |
10,000 |
12,900 |
Port Clinton, OH,
USA |
|
28 |
ft |
Sea Ray 270
Sundancer |
1984 |
20-Apr-21 |
5,000 |
5,995 |
Grant, FL, USA |
|
27 |
ft |
Sea Ray 270
Sundancer |
1984 |
22-Mar-21 |
14,500 |
14,500 |
Spring Lake, MI,
USA |
|
28 |
ft |
Sea Ray Sea
Dancer |
1984 |
12-Oct-20 |
5,000 |
8,900 |
Lester Prairie,
MN, USA |
|
27 |
ft |
Sea Ray 270
Sundancer |
1983 |
17-Sep-20 |
4,500 |
4,900 |
Salt Lake City, UT,
USA |
|
27 |
ft |
Sea Ray 270
Sundancer |
1983 |
4-Sep-20 |
7,000 |
8,500 |
Page, AZ, USA |
|
27 |
ft |
Sea Ray 27
Seadancer |
1984 |
27-May-20 |
12,750 |
15,500 |
Marblehead, OH,
USA |
This survey is for the express purpose of appraisal. It is not meant as a buyer’s survey.
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.
PRIMARY
1. Maintain the fire extinguishers per NFPA recommendations. Extinguishers should be inspected and tagged annually and inspected by a qualified technician or replaced every six years.
2. The engines are seized. Service the engines and prove them properly functional.
3. The push-pull cables for the engines and outdrive are seized. Service or replace the cables and prove them properly functional.
4. Replace the wing nuts on the batteries’ terminals with steel nuts use steel nuts and lock washers. Comply with ABYC recommendations.
5. Provide federally required, current and approved distress signal flares.
6. Provide a suitable sound signaling device.
7. There is heat damage at a bus par port forward in the salon. Determine the significance and cause of the heat damage and address appropriately.
8. The wood around the electrical distribution panel has rotted and the panel has fallen forward. Address appropriately.
9. The cabin windows have begun “peeling” away from the superstructure. Address appropriately.
10. The fuel feed hoses are cracked, and the fuel fill and vent hoses are likely original. Replace them.
11. The batteries have no power. Remove the batteries and charge / test and replace them as necessary and prove the DC system properly functional.
12. The boarding ladder’s brackets on the swim platform are pulling out. Properly secure the boarding ladder.
13. We did not test the blowers because the batteries had no power. Service or replace the blowers as necessary and prove them properly functional.
14. The vessel’s registration decal is out of date. Apply the current decals.
SECONDARY
1. The water pumps on both engines are rusted. Service or replace the water pumps and prove them properly functional.
2. The bilge access hatch in the salon has rotted and the bilge is holding dirty water. Address appropriately.
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.