STANDARD SURVEY
C & V SURVEY
Condition & Valuation
| Client: Removed for Privacy | Date of Report: April 22, 2021 |
| Location: Removed for Privacy | Our file #: 21 – 20055 |
VESSEL DESCRIPTION
| Builder: Tollycraft | Doc. #: Removed for privacy** |
| Model/type: 40 Sport Sedan | Engine/MFG: Two Caterpillar 3208 |
| Year: 1987 (model year) | H.P. per: Removed* |
| Length: 43′ | Serial numbers: Tags not seen |
| Draft: 3′ 2″ | Type of instal: Diesel, 8 cylinders, turbo-charged, aftercooled |
| Beam: 14′ 8″ | Generator: 9 kw NorPro |
| Name: Removed for privacy | Hailing port: Removed for privacy |
| HIN – Removed for privacy |
*Previous survey
**US Certificate of Documentation
HULL & STRUCTURE |
| The vessel was inspected while hauled. Hull construction material is molded fiberglass. The vessel’s name on the transom does not match the Certificate of Documentation. The upper and lower rub rails are corroded. The HIN is not displayed on the transom. 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. The starboard forward bow rail stanchion post fasteners are loose. The starboard fasteners at the top of the flybridge ladder are loose. Cosmetic condition of vessel appears good externally and satisfactory – good internally. Vessel’s external colors are off-white paint with gold and black boot stripes and gold and black stripes on the superstructure. Below waterline through hull fittings appear satisfactory – good. The vessel’s bilge pumps include one Rule 1500 submersible automatic aft in the lazarette, two Rule 1500 submersible automatic in the engine room (one forward and one aft) and one Rule 1500 submersible automatic forward of the engine room, they appear satisfactory and the bilge is holding minimal water. The ventilation system consists of two blowers and natural ventilation and appears satisfactory. General housekeeping appears good. |
Summary: Satisfactory – Good
MACHINE SYSTEMS |
| Engines’ external surfaces appear satisfactory and exhibit no rust or coolant leaks. There is oil on the inboard stringer of the starboard engine. Engines’ hour meters exhibit S – 3356 and P – 3626 hours. The hour meters are inoperative. Motor mounts appear satisfactory. Cooling systems appear satisfactory. There is minimal corrosion on the engines’ raw water pumps. Fuel systems and components appear satisfactory. Exhaust systems and components appear satisfactory. The wood mounts for the engines’ mufflers are deteriorated. Electrical systems and components appear satisfactory. Engine control systems appear satisfactory and shaft logs appear satisfactory. Steering control system appears satisfactory and rudder ports appear excellent. The rudder seals were being replaced during the survey. Propulsion components appear satisfactory. The propellers have been removed for maintenance. Generator’s surfaces and motor mounts appear satisfactory. Generator’s peripheral components and systems appear satisfactory. The generator is a 9kw NorPro model XM3341006N, serial number 363959 – 080. The generator’s seawater intake hose has rub damage. The generator’s drive belt is aged and cracked. The bypass hole on the generator’s raw water pump has rust and staining and there is moisture and rust below the pump in the generator’s pan. Waste system and components appear satisfactory. General service seawater systems appear satisfactory. There is a black flexible hose to starboard in the lazarette that is cracked (difficult to trace). The filter for the water maker is not secured. |
Summary: Satisfactory
FUEL SYSTEM |
| There is unknown capacity in two aluminum (apparently) tanks located outboard in the engine room. Fuel tank surfaces, where visible, appear satisfactory, and the securing mechanism appears good. There is fuel below the port Racor filter bowl and on the water maker’s through hull. The fuel fill, vent, feed and return lines and components appear satisfactory. The fuel hoses are dated 2006 and 2001. Fuel shut off valves are located forward of the starboard engine on a manifold and appear satisfactory. |
Summary: Satisfactory
ELECTRICAL SYSTEMS |
| The AC shore cord, inlet and connections appear satisfactory. The shore power cord is aged and the female end of the cord is worn. The AC wiring and outlets appear satisfactory. The AC main feed is protected with a circuit breaker. Battery arrangement appears satisfactory. Batteries are equipped with disconnect switches. DC wiring appears satisfactory. Circuit protection for the AC and DC branch system appears good. Wire terminations and connections appear satisfactory. Wire organization and arrangement appears satisfactory. |
Summary: Satisfactory
SAFETY AND LIFE SAVING |
| Vessel’s portable fire extinguishers include one type B:C size I (2012) in the port aft cockpit locker, four type A size II, type B:C size I (inspected 2017) with two in the galley, one in the port forward cockpit locker and one in the forward cabin, one type B:C size I (1986) in the port cabin. Vessel has a Fireboy model 100CG, Halon 1301, inspected 10/2002 fixed fire suppression system. The safety components include: four adult type II, and three adult type III PFDs, one throwable PFD and retrieval line; distress flares with expired certification; one 8-person life raft with expired certification; no first aid kit; 22 kg anchor with chain and line rode that appears satisfactory. Navigational and anchor lights appear satisfactory. Vessel has current navigation rules. Vessel has an oil placard, waste placard and a waste management plan. Other safety equipment includes: EPIRB (battery expired 2019) and the registration sticker is for vessel “Thetis” and is expired. |
Summary: Satisfactory
STORAGE |
| The vessel was inspected at its temporary storage location. Boarding hazards appear insignificant. All entry points were found locked. |
Summary: Excellent
ACCESSORIES |
| Transom door, cockpit engine controls, rocket launcher rod holders, garbage placard, rudder angle indicator, cockpit ice box, two fish boxes with coolers, bait tank, raw water washdown, fresh water pressure inlet, JL Audio speakers, two Stidd adjustable helm chairs, Icom IC-M506 vhf, Simrad AP20 autopilot, Furuno sonar (extending sonar), engine instrumentation includes two tachometers, two oil pressure gauges, two water temperature gauges and two volt meters, two fuel level gauges, Ritchie compass, bow plank with integral anchor roller, foredeck bait tank, full flybridge enclosure, foredeck bench, FLIR camera, two GPSMap 7608 multi-function devices with sounder / plotter / radar / AIS / FLIR, Garmin GPSMap multifunction device with plotter / sounder / radar / AIS / FLIR, two Duralite LED foredeck flood lights, Garmin GPSMap 7608 multi-function device in the cockpit with plotter / sounder / radar / AIS / FLIR, Chelsea Maritime clock, electrical distribution panel includes main and branch AC and DC circuit breakers and AC and DC volt and ammeters, Heart Interface inverter controller, galley includes two GE GCE06GSHBHB refrigerators, two basin sink, Princess two burner electric stove, Mr. Coffee coffee maker and GE microwave, Pioneer speakers, leather couch, Panasonic TV with VHS player, Icom IC-M304 vhf, Panasonic DP202 CD / Stereo, Magic Speed X52HD drone, Raritan 1700 water heater, search light CH – 500 descending Sonar, Xantrex True Charge 40+ amp battery charger, spare belts, internal sea strainers, West Marine freshwater pump, fishing rods, head includes vacuflush head, sink and shower enclosure, port cabin includes bunk berths, forward cabin includes island berth, waste vacuum pump, electric waste discharge pump, Maxwell 1000 two direction electric windlass |
SUMMARY |
| The vessel is a molded fiberglass flybridge sport fisher equipped with two diesel engines and a diesel generator. The vessel was built in Kelso, WA. The client purchased the vessel in August 2017 in XXXX. He reported that the machine system components are original. The vessel has been hauled for bottom paint. He reported that since his last survey he has repaired the windlass, installed a life raft, added a bench seat on the bow, installed a deck overlay, repainted the transom, and has installed numerous upgrades including: $60,000 of electronics and rewired the flybridge, installed a FLIR system, installed an extending sonar, replaced the canvas and flybridge enclosure, replaced the refrigerators, replaced the furniture, replaced the galley sink, replumbed the waste system, tinted the windows, installed new curtains, and reworked the grounding system in the lazarette. The vessel was inspected while hauled. The engines and generator were not test operated and no sea trial was performed. The vessel is basically structurally sound and upon completion of the recommendations should be suitable for its intended purpose as a near coastal cruising vessel. |
Overall summary: Satisfactory
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 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 sale price of similar vessels on Soldboats.com is $96,443 and the average current listing price of similar vessels on Yachtworld.com is $88,561. The vessel is in above average condition for its age and exhibits active maintenance and numerous electronic upgrades. Our comparable vessel research yielded limited data so we expanded our search to include similar vessels of different makes. The data from Soldboats.com and Yachtworld.com has factored in the demand and value spike attributed to Covid-19.
| Length in ft | Boat | Year | Sold Date | Sold Price | Listed Currency | Listed Price | Boat Location | |
| 40 | Tollycraft Sport Sedan | 1986 | 8-Jul-20 | 100,000 | US$ | 120,000 | CA, USA | |
| 40 | Tollycraft 40 Sport Sedan | 1989 | 17-Apr-20 | 112,000 | US$ | 125,000 | Everett, WA, USA | |
| 40 | Tollycraft 40 Sport Sedan | 1989 | 27-Mar-20 | 77,329 | US$ | 111,385 | Nanoose Bay, BC, Canada | |
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This survey is for the express purpose of insurance. 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
- 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.
- Display the HIN on the transom per federal regulations.
- The battery on the EPIRB expired in 2019 and the registration sticker is for vessel “Thetis” and it expired in 2015. Address the incorrect vessel name, renew the registration and maintain the EPIRB per the manufacturer’s specifications.
- Properly secure the fasteners on the flybridge ladder to starboard.
- The starboard forward stanchion post bases are loose. Properly secure them.
- Maintain the life raft per the manufacturer’s specifications.
- Display the Documentation Number per federal regulations.
- The name on the transom does not match the document. Assure that the name on the transom and document match.
SECONDARY
- The propellers have been removed for service. Reinstall the propellers.
- Determine the significance of the deterioration of the plywood mounts below both engines’ mufflers and address appropriately.
- The rudder seals are being replaced and the port rudder was removed during the survey. Upon completion of the maintenance prove the steering system properly functional.
- The black flexible hose to starboard in the lazarette is cracked. Replace the hose as necessary.
- The shore power cord is aged and the connection is worn. Replace the cord as necessary.
- The upper and lower rub rails are corroded. Address as desired.
- The generator’s seawater intake hose has rub damage. Replace the hose and mount in a way to prevent further damage.
- The generator’s belt is aged. Replace the belt.
- The bypass hole on the generator’s raw water pump has rust staining and moisture below in the pan. Service or replace the pump and prove it properly functional, eliminate the leak and clean the pan to allow detection of any future weeps or leaks.
- There is fuel on the water maker’s seawater intake through hull and below the port Racor bowl. Determine the source of the fuel, eliminate the source, service components as necessary and clean the area to allow detection of any future weeps or leaks.
- There is corrosion on the water maker through hull. Determine the significance of the corrosion and address appropriately.
- The fuel hoses are dated 2006 and 2001. The industry life expectancy “rule of thumb” is 10 years. Either replace the hoses or assure they are suitable for continued use and replace as necessary.
- Properly secure the filter for the water maker.
- There is minimal corrosion on both engine’s raw water pumps. Determine the significance of the corrosion and address appropriately.
- There is oil on the stringer just forward of the starboard engine’s port aft motor mount. Determine the source of the oil, eliminate the source, service or replace components as necessary and clean the area to allow detection of any future weeps or leaks.
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