C & V
Condition & Valuation
|Client: Removed for Privacy||Date of Report: February 9, 2021|
|Location: Removed for Privacy||Our file #: 21 – 29984|
|Builder: Bluewater Yachts (Taiwan)||Reg. #: Removed for privacy|
|Model/type: Mikelson 43 SF||Engine/MFG: Two Detroit Diesel|
|Year: 2001||H.P. per: 12V – 92|
|Length: 49′ 6″||Serial numbers: P – 46043567 / S – 46043412|
|Draft: 3′ 6″ *||Type of instal: Diesel, six-cylinders, turbocharged, after cooled|
|Beam: 15′ 8″ *||Generator: 8 kw Northern Lights|
|Name: Removed for privacy*||Hailing port: San Diego, CA|
|HIN – Removed for privacy|
HULL & STRUCTURE
|The vessel was inspected while afloat. Hull construction material is molded fiberglass. Deck is constructed of molded fiberglass 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 – good. The vessel’s weight is unknown. Exterior rails and hardware appear satisfactory. Cosmetic condition of vessel appears satisfactory – good externally and internally. Vessel’s external colors are white with a blue boot stripe and blue stripe on the superstructure. Below waterline through hull fittings appear good. There is corrosion on the HVAC intake through hull and there is corrosion on the forward HVAC pump. The vessel’s bilge pumps include one Rule 2000 submersible automatic pump aft in the engine room, one Rule 1500 submersible automatic pump forward in the engine room, one Rule 1500 submersible automatic pump forward in the utility room and one Rule 1500 submersible automatic pump in the forward bilge space that appear satisfactory – good and the bilge is mostly dry. The ventilation system consists of two blowers and natural ventilation and appears good. General housekeeping appears good.|
Summary: Satisfactory – Good
|Engines’ external surfaces appear good and exhibit no rust, oil or coolant leaks. There are weep stains aft on the port engine’s heat exchanger. There is corrosion on the bottom of the starboard engine’s aftercooler and deterioration and corrosion of the port engine’s aftercooler. Engines’ hour meters exhibit port: 2589.07 and starboard 2573.2 hours. Motor mounts appear satisfactory. Cooling systems appear satisfactory – good. A hose on the starboard engine’s aftercooler is cracked by the clamp on the aftercooler and the lower hose has cracking. Fuel system and components appear satisfactory. Exhaust systems and components appear satisfactory. The clamps on the starboard engine’s exhaust tubing are rusted. The flexible hose from the port engine’s heat exchanger to the exhaust is cracked. The electrical system and components appear satisfactory. Engine control systems appear satisfactory – good, and shaft logs appear satisfactory. The half-tower’s engine control is weathered. We did not operate the tower controls, cockpit controls or aft flybridge controls. Steering control system appears satisfactory and rudder ports appear satisfactory. The hydraulic steering reservoir is low. Propulsion components were not seen. Generator’s surfaces and motor mounts appear satisfactory. Generator’s peripheral components and systems appear satisfactory. Waste system and components appear satisfactory. General service seawater systems appear satisfactory. The center grey hose on the water maker is cracked. There is corrosion on the AC bait pump. The hose clamp on the bait tank bypass / discharge is heavily rusted by the discharge fitting. The flexible hoses connected to the port aft deck drain are cracked and metal fitting has rust on it. The metal drain fitting port forward in the engine room has rust on the welds. The starboard aft deck drain hose is cracked and the short hose from the metal fitting to the through hull is cracked. The short flexible hose on the galley sink drain is cracked.|
Summary: Satisfactory – Good
|There is 800 gallon capacity in three fiberglass tanks located in utility room. Fuel tank surfaces, where visible, appear good, and the securing mechanism appears excellent. The fuel fill, vent, feed and return lines and components appear satisfactory. There are two types of fuel hoses in use, the Aeroquip hose to the port engine’s Racor fuel filter is cracked and no age was seen on the Aeroquip hoses. Fuel shut off valves are located forward in the engine room at the manifold and appear good.|
|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 good. Batteries are equipped with a disconnect switches. DC wiring appears satisfactory. Circuit protection for the AC and DC branch systems appears good. Wire terminations and connections appear satisfactory. Wire organization and arrangement appears satisfactory. The center and port forward engine room lights are inoperative.|
SAFETY AND LIFE SAVING
|Vessel’s portable fire extinguishers include one type B:C size I (2011) at the flybridge, one type B:C size I (2011) aft in the salon, one type B:C size I (2011) in the galley, one type B:C size I (2011) in the forward cabin. Vessel’s fixed fire extinguisher is a Kidde Mariner Fyre Watch FW 425 with FE241 agent 7/11/11 forward in the engine room. The safety components include: four adult type I, four adult type II, five child type III, three inflatable type, one adult type III PFDs and two throwable PFDs; distress flares with current certification; 6 person Viking life rafts with current certification (03/2022); first aid kit; 20 kg primary and smaller (illegible) Bruce anchor with chain and line rode that appears satisfactory. Navigational and anchor lights appear good. The vessel includes one CO alarm and one combination smoke / CO alarm. Vessel has current navigation rules. Vessel has oil, waste placard and waste management plan. Other safety equipment includes EPIRB (expiration 5/2020, battery expired (09/2016), highwater alarm, handheld SOS strobe, daytime distress signal flag, glowstick, cannister airhorn. The boarding ladder is secured with a plastic tye. The forward deck hatch cannot be used with the tender in place.|
|The vessel was inspected at its normal slip location. Lines condition and arrangement appears excellent. Boarding hazards appear in. All entry points are reportedly kept locked.|
|Transom door, swim platform, boarding ladder, transom bait tank, freshwater washdown, raw water washdown, fighting chair, cockpit shower, 50 amp 125 / 250 volt shore power inlet starboard aft in cockpit, 50 amp 125 / 250 volt shore power cord, tv / phone inlet, Simrad AP22 autopilot, cockpit engine controls, rod holders, cockpit courtesy lights, day head with electric head and shower, cockpit sink, Rule general purpose livewell pump, AC livewell pump, fiberglass thrust tubes, Village Marine Tec water maker, engine room lights, Hynautic hydraulic steering, Bennett trim tabs, PSS dripless shaft seals, fiberglass water lift muffler for generator, oil change pump, tickler pole, outriggers, fish box, cockpit floodlights, two Stidd adjustable helm chairs, flybridge dinette, two Simrad NSS16 evo3 multifunction devices with radar / plotter / sounder / AIS, engine instrumentation at forward flybridge station includes two oil pressure gauges, two voltmeters, two water temperature gauges, two transmission oil pressure gauges and two tachometers with hour meters, Danforth compass, Simrad RS35 vhf, DC subpanel at forward flybridge helm, Norcold DC-440 DC refrigerator, audible engine alarms, aft flybridge helm contains engine controls and bow thruster control, Furuno Navnet C-Map NT Max with plotter / sounder / Nav data, West Marine WM7000 stereo, electrical distribution panel starboard aft in salon includes main AC and branch AC and DC circuit breakers, AC and DC voltmeters and ammeters, Samsung tv, U-Line ice maker, tank tender tank level gauge (water, fuel), generator hour meter (2253.5), water maker control panel, Magnum Energy inverter / charge controller, Sony Blu-ray player, Sony DAV-C700 DVD player, Morse Servos, Quartz ship’s bell clock, Weems and Plath barometer, couch, fishing rods, galley includes sink, Hamilton Beech toaster oven, Sharp carousel convection microwave, Nespresso coffee maker, oil placard, garbage placard, GE TDX9 SNYAWH refrigerator / freezer and Princess three burner galley stove, dinette, GFCI outlets (salon and galley), sliding salon windows, sump collection box, Flojet raw water washdown pump, GE FCM 7DAB WH standing freezer, Blue Sea systems, S1-ACR, Raritan 172011 water heater with heat exchanger, Magnum Energy Magna Sine inverter / charger Lowrance Elite 7Ti multifunction device (for tender), port cabin includes two bunk berths, galley includes electric head, sink, shower enclosure and vent fan, fiberglass water tank (200 gallon capacity) *, speargun, forward cabin includes berth, Samsung tv, Raytheon ST60 tridata with depth / speed / TNP, Icom IC-M502 vhf, bow plank with integral anchor roller, half tower helm includes engine control, steering wheel, Raytheon ST60 Tridata device, Robertson AP20 autopilot and seat, tower electrical receiver for vhf, flybridge hard top with full enclosure, 800 lb. capacity Brower tender davit, Novurania model MX360TR rigid hulled inflatable with HIN – PKD09790E696 equipped with a 30 h.p. Mercury four stroke outboard engine model 1A30411EK and serial number OR877956, tender chocks, three foredeck hatches, hardtop hatch, Muir Cougar two direction electric windlass with foredeck and flybridge controls, integral anchor roller, two foredeck locker spigots, stainless steel bow rail, various canvas covers, grab rails|
|The vessel is a composite fiberglass sportfisherman equipped with two diesel engines and a diesel generator. The vessel was designed by Tom Fexas. The client reported that the port engine and transmission are original, the starboard engine has been rebuilt, the starboard transmission is original and the generator is original. He reported that since his previous survey he has upgraded the electronics, installed a bow thruster, a new hard top hatch, new canvas and Isinglass and a new engine has been installed on the tender. The vessel was inspected while afloat. The engines were briefly test operated in the slip only and the transmissions were touched into gear and no sea trial was performed. The generator was test operated and loaded. The vessel is basically structurally sound and upon completion of the recommendations should be suited for its intended purpose as a near coastal cruising vessel.|
Overall Summary: Satisfactory – 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.
ACTUAL CASH VALUE
NEW REPLACEMENT VALUE
|Removed for privacy|
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 historical sale price of similar vessels on Soldboats.com is $275,322 and the average current listing price of similar vessels on Yachtworld.com is $364,692. The comparable vessels include slightly larger models thus increasing the average. A bow thruster has been installed and the electronics have been upgraded. The vessel is in average condition for its age. There is currently a Covid-19 related value and demand spike and it is unclear as to how long this spike will last. This spike, the location and condition of the vessel have been factored into the value we have placed on the vessel.
|Length||UOM||Boat||Year||Sold Date||Sold Price||Listed Price||Boat Location|
|43||ft||Cabo Sport Fisherman||2002||2-Feb-21||399,000||399,000||Stuart, FL, USA|
|43||ft||Riviera 43||2001||6-Jan-21||290,000||299,000||Miami, FL, USA|
|43||ft||Ocean Yachts 43 Super Sport||2002||4-Jan-21||210,000||235,900||Cape Coral, FL, USA|
|43||ft||Tiara Yachts 4300 Open||2001||11-Dec-20||136,000||185,000||Montauk, NY, USA|
|43||ft||Ocean Yachts 43 Super Sport||2002||23-Nov-20||205,000||219,000||Cape Canaveral, FL, USA|
|43||ft||Tiara Yachts 4300 Open||2001||2-Nov-20||250,000||259,000||Saugatuck, MI, USA|
|48||ft||Ocean 48 Super Sport||2000||16-Oct-20||225,000||239,000||Harrison Township, MI, USA|
|48||ft||Sea Ray 480 Sedan Bridge||2001||10-Oct-20||294,000||309,900||Port Clinton, OH, USA|
|43||ft||Riviera Convertible||2000||6-Oct-20||242,375||242,375||Cannes, France|
|43||ft||Cabo Convertible||2002||29-Sep-20||315,000||319,000||Wrightsville Beach, NC, USA|
|48||ft||Ocean Yachts Super Sport||2002||14-Aug-20||260,000||275,000||Annapolis, MD, USA|
|48||ft||Sea Ray 480 Sedan Bridge||2002||2-Aug-20||295,000||308,800||Port Clinton, OH, USA|
|48||ft||Ocean Super Sport||2000||29-Jul-20||200,000||229,000||Hillsboro Beach, FL, USA|
|45||ft||Buddy Davis 45||2002||25-Jul-20||365,000||389,000||Somers Point, NJ, USA|
|48||ft||Cavileer 48 Convertible||2002||23-Jul-20||295,000||324,900||Pasadena, MD, USA|
|43||ft||Viking 43 Convertible||2001||13-Jul-20||300,000||325,000||Amity Harbor, NY, USA|
|48||ft||Ocean Yachts Super Sport||2000||4-Jul-20||185,000||214,900||Waretown, NJ, USA|
|45||ft||Cabo 45 Express||2001||3-Jul-20||270,000||299,000||Galveston, TX, USA|
|45||ft||Buddy Davis 45 Express||2001||26-Jun-20||105,000||164,900||Fort Lauderdale, FL, USA|
|45||ft||Cabo 45 Express||2000||26-Jun-20||285,000||299,000||Pompano Beach, FL, USA|
|45||ft||Cabo 45 Express||2000||15-Jun-20||235,000||249,000||Humarock, MA, USA|
|43||ft||Viking 43 Express||2001||12-Jun-20||212,500||259,000||Manteo, NC, USA|
|47||ft||Post 47||2001||3-Jun-20||270,000||319,000||Mattituck, NY, USA|
|45||ft||Buddy Davis 45 Express||2002||22-Apr-20||390,000||445,000||Freeport, TX, USA|
|48||ft||Riviera Convertible||2002||16-Apr-20||350,000||499,000||Miami, FL, USA|
|47||ft||Cabo Sportfisher||2002||2-Mar-20||290,000||339,000||Oxnard, CA, USA|
This survey is for the express purpose of insurance. It is not meant as a buyer’s survey.
|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.|
- 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.
- The foredeck hatch cannot be used with the tender in place. We recommend removing the tender from the deck when sleeping aboard the vessel or otherwise modifying to allow use of the hatch as an escape hatch.
- Remove the plastic zip tie from the boarding ladder to allow the ladder to function for the accidental swimmer.
- There are two different types of fuel hoses in use and the Aeroquip hose to the port engine’s Racor fuel filter is cracked. Replace the cracked hose and assure the other hoses are suitable for continued use.
- The EPIRB’s battery and registration are expired. Renew the registration and replace the battery.
- Address the weathered engine controls on the half-tower as desired.
- There is corrosion on the HVAC intake through hull and on the forward HVAC pump, address appropriately.
- The following reinforced flexible hoses were noted to be cracked: the galley sink drain, port aft deck drain and starboard aft deck drain. Replace the hoses.
- Replace the two cracked flexible hose on the starboard engine’s heat exchanger.
- There are stains on the port engine’s heat exchanger, address appropriately and clean the heat exchanger to allow detection of future weeps or leaks.
- Service the port forward and center engine room lights and prove them properly functional.
- The port forward metal deck drain “Y” fitting in the engine room has rust on the welds, and the port aft metal drain fitting in the engine room has rust on the fitting. Determine the significance of the rust and address appropriately.
- The clamps on the starboard engine exhaust tubes are rusted and there is staining below the exhaust at these clamps. Eliminate any weep or leak, replace the clamps as necessary and clean the area to allow detection of future weeps or leaks.
- There is corrosion on the AC bait pump. Determine the significance and cause of the corrosion, eliminate the cause, service the pump as necessary and clean the pump and surroundings to allow detection of future weeps, leaks and corrosion.
- Replace the rusted hose clamp on the bait tank bypass / discharge.
- There is corrosion on the base of the port and starboard engines’ after coolers and corrosion on the solenoids below the port engine’s aftercooler. Service the after coolers as necessary and clean and repaint them to allow detection of future weeps, leaks and address corrosion on the solenoids appropriately.
- Replace the cracked center grey hose on the water maker.
- The hydraulic steering reservoir is low. Eliminate any fluid leaks in the system, refill the reservoir and assure the system is properly functional.
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.
By: Mr. Kells Manthei, SAMS SA
Reviewed by: Mr. Kells Christian, Surveyor
SAMS – AMS #301