50′ 2006 Pacific Motor Yachts Watson 48



Condition & Valuation


Client:  Removed for privacy Date of report:      August 19, 2022
Our file #:            21 – 20257web


Location: Shelter Island Boatyard Date of inspection: October 4, 2021
                San Diego, CA


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:         Pacific Motor Yachts Doc. #:               Removed for privacy
Model/type:  Watson 48 Engine/MFG:     One Perkins
Year:            2006 H.P. per:            185
Length:         50’ Serial numbers: YD50779U874141P
Draft:            6’ 5”
Breadth:      16.2’ (document) Type of instal. : Diesel, six cylinders,
Name:         Removed for privacy                         turbocharged, dry exhaust
HIN:            Removed for privacy Generators:       Main & backup 25 KVa

Hailing port:       Dover, NH




The vessel was inspected while hauled and afloat.  Hull construction material is steel.  Deck is constructed of steel and above deck structures are constructed of steel.  Bulkheads are constructed of steel.  Overall condition of the hull structure appears good – excellent.  The vessel’s weight is unknown.  Exterior rails and hardware appear good.  Cosmetic condition of vessel appears satisfactory externally and good internally.  There are numerous localized “paint patches” on the exterior of the vessel.   Vessel’s external colors are green with white accents and superstructure.  Below waterline through hull fittings appear good.  The vessel is equipped with two AC bilge pumps that appear good and the bilge is clean and dry.  The ventilation system consists of one engine room blower and natural ventilation and appears good.  General housekeeping appears good.
Summary: Good – Excellent



Engine’s external surfaces appear good and exhibit no rust, oil or coolant leaks.  Engine hour meter exhibits 5,515 hours.  Motor mounts appear good.  Cooling system appears good.  Fuel system and components appear good.  Exhaust system and components appear good.  Electrical system and components appear good.  There is a 25 Kva generator to starboard of the engine driven by a drive belt on the front of the engine.  Engine control system appears good and shaft log appears good.  The shaft seal has an emergency clamping device, for use in the event of a shaft seal failure.  Steering control system appears good and rudder port appears good.  Propulsion components appear goods and include Prop Speed coatings.  Generators’ surfaces and motor mounts appear good.  Generator’s peripheral components and systems appear good.  There is a 25 Kva primary generator driven by a Perkins engine to port in engine room.  Generator’s engine also has a transmission and propeller shaft for use in an emergency (main engine failure) and 1,214 hours on meter.  Waste systems and components appear good.  General service seawater systems appear good.
Summary: Good – Excellent



There is 2,470 gallon reported capacity in four steel holding tanks and two day tanks located forward and aft of the engine room.  Fuel tank surfaces are mostly not visible and the securing mechanism appears good.  The fuel fill, vent, feed and return lines and components appear  good.
Summary: Good 



The AC shore cord, inlet and connections appear good.  The AC wiring and outlets appear good.  The AC main feed are protected with circuit breakers.  Battery arrangement appears good.  Batteries are equipped with disconnect switches.  The battery system includes two lithium ion batteries (Lithionics – 1 x 150 AH model GT24V150A, 1 x 300 AH model GT24V300A) and associated system and four AGM batteries.  The DC wiring appears good.  Circuit protection for the AC and DC branch system appears good.  Wire terminations and connections appear good.  Wire organization and arrangement appears good.
Summary: Good – Excellent



Portable fire extinguishers include: one CO2 unit (not US approved), one type A size II, type B:C size II (2008) and one type B:C size I (2010).  Vessel has a Sea-Fire FD1500M, manufactured 04/2013 fixed fire suppression system.  The vessel includes one CO alarm.  The safety components include: various PFDs and two life rings with light and retrieving line (throwable PFDs); distress flares with current certification; Viking 6 person UKSL life raft with current 09/2024 certification; suitable first aid kit; Fortress (stern) anchor and two Pool N HHP 60 kg  anchors with 2 x 280’ (13mm) high tensile chain rode that appears good.  Navigational and anchor lights appear good.  Vessel reportedly has current navigation rules, oil placard, waste placard and waste management plan.  Other safety equipment includes emergency tiller handle, emergency shaft seal, abandon ship kit, two survival suits, two smoke alarms.
Summary: Good – Excellent



Vessel is equipped with LP, which fuels the galley stove.  Tanks external appearance is good and they are properly secured.  Ventilation appears satisfactory.  Tank valves were opened and an odor was not noticed.  Feed line is equipped with a reducing regulator, pressure gauge, and an electric shut off solenoid and feed lines appear satisfactory – good (2017 vintage hose reported).
Summary: Satisfactory 




Steel swim platform, boarding ladder, 50A / 125 / 250V shore power inlet in transom locker, shore power cord, Paravanes hydraulic steering system includes two autopilot motors, SPX flow freshwater pressure pump with pressure accumulator tank, two refrigeration compressors, Kabola KB45 Ecoline diesel heater driven hydronic heating system with six fan coils, Cotek Pure sine wave inverter SP-700 (boiler), Wesmar fin stabilizers, 140 gallon grey and black water tanks, discharge pumps for grey and black water tanks, fuel sight level tubes, 50 Hz electrical system, Victron Energy isolation transformer, ZF U220 transmission, tool box, work bench, Victron multi-plus 24V / 3000va / 70amp inverter / charger, Victron energy Phoenix 24V 3000VA inverter, electrical distribution panel aft in engine room includes main AC solenoids, branch AC and DC circuit breakers and AC camps, volts and Hertz meters, ETE model 901.230.84 isolation transformer, Maincraft dripless shaft seal, Brownee’s portable hooka type diving / breathing device, transom door, teak main deck, steel bulwarks, Paravane stabilizing system, Lofrans Titan electric windlass, two foredeck floodlights, two windshield wipers, Saura Keiki magnetic compass, bimini top, spotlight, three 320 watt solar panels, AB model 11AL rib with HIN – CAN52026F617 equipped with a 20 h.p. Yamaha four stoke outboard engine model F20 LMHA and serial number 6AHK L 1066582 (03/17), OceanLift 400kg tender davit, Icom AT-140 HF tuner, pilothouse berth, bench seat and table, five Cruisair HVAC units, pedestal helm chair, inclinometer, Icom IC-M802 NZ HF Marine transceiver, generator and instrumentation includes tachometer with digital hour meter, temperature, volts and oil, black, grey and freshwater tank level gauges, side power thruster, Furuno Navnet multifunction device, TMQ rudder angle indicator, Furuno RD-33, TMQ AP5000 autopilot, Maretron DSM 410 lithium battery monitor, Horizon Explorer vhf, elpro NFU steering jog stick, window defogger, Ocean Signal EPIRB with June 2022 battery expiration, Horizon HX870 vhf, dinette, Trident lp gas controller, galley sink, dish washer, electric over and lp stove, Panasonic NN-SD3765 inverter microwave oven, isotherm refrigeration





The vessel is a limited production steel long range motor vessel equipped with a diesel engine and a diesel generator.  There is an AC generator connected by a belt to the main engine and a propeller shaft and propeller connected via a transmission to the generator.  The vessel was built in Whangarei, New Zealand to a Watson & Sons design.  The clients purchased the vessel in 2011 in the Chesapeake Bay area and report that the vessel was imported into the USA in 2009.  The machine systems are original.  The vessel has had significant upgrades which began in 2014 with solar panels, in 2017 a Kabola boiler hot water heating system, tender, teak decks, dive compressor and two refrigeration compressors and in 2021 service to the propulsion components including new propeller shafts and bearings, replacement rudder bearings and seals and maintenance service on the fin stabilizers.  The reported approximate range of the vessel is 3,500 nautical miles.  The vessel was inspected while afloat and while hauled.  The clients live aboard and actively use the vessel, they operated the vessel to the boatyard prior to the survey and the engine and generator were briefly test operated during the survey.  The vessel is structurally and mechanically sound.  The vessel is actively and well maintained.  Captain Herndon comes from the commercial shipping industry as a mariner and the clients are extremely familiar with the vessel and its systems.  The vessel is equipped with significant spare parts and tools.  The vessel is well suited for its intended purpose as a long range cruising vessel.
Overall Summary: Good – Excellent


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.





Removed Removed


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 primarily based on the reported sale prices from Soldboats.com and the asking prices found by the undersigned and provided by the clients on Yachtworld.com below.  The vessel is a steel trawler that was well designed and built and is in good – excellent condition.   The vessel compares well with the top end of the trawler market, with a slight diminishment due to the relatively unknown builder in the local market.


Length ft Boat Year Sold Date Sold Price Listed Price Boat Location
47 Grand Banks 47 Heritage EU 2007 22-Sep-21 630,000 700,000 Jacksonville, FL, USA
47 Great Harbour N47 2007 28-Jun-21 475,000 499,000 Jacksonville, FL, USA
48 Custom Sprague 2006 14-Jun-21 269,000 269,000 Blaine, WA, USA
46 Grand Banks 47 Heritage EU 2007 10-Jun-21 573,884 636,490 Fehmarn, Germany
49 SeaRanger 50 2007 8-Jun-21 374,787 429,302 Largs, North Ayrshire, United Kingdom
51 Diesel Duck Seahorse 462 2005 28-May-21 380,000 479,000 Honolulu, HI, USA
52 Seahorse Long Range Cruiser 2006 28-May-21 325,000 379,900 Huntington Beach, CA, USA
47 Nordhavn 47 2007 12-May-21 740,000 845,000 Santa Barbara, CA, USA
52 Seahorse 52 2005 12-May-21 475,000 519,000 Boyne City, MI, USA
46 Grand Banks 46 Europa 2005 10-May-21 572,500 629,900 Charleston, SC, USA
48 Ocean Alexander Classico 2006 6-May-21 408,500 429,500 Moore Haven, FL, USA
46 Grand Banks 46 Europa 2005 3-May-21 575,000 649,900 Charleston, SC, USA
49 Custom Converted Trawler / Liveaboard 2005 27-Apr-21 150,000 199,500 La Conner, WA, USA
47 Grand Banks 47 Heritage EU 2006 2-Apr-21 590,000 629,000 Pensacola, FL, USA
52 Grand Banks 52 Europa 2007 18-Mar-21 885,000 899,000 Seattle, WA, USA
46 Atlantic Duffy 2007 22-Feb-21 385,000 435,000 Central Square, NY, USA
47 Grand Banks 47 Heritage CL 2007 22-Feb-21 555,000 625,000 Aventura, FL, USA
53 Skagen 50 2006 18-Feb-21 405,777 475,339 Portoroz, Slovenia
47 Mainship 430 2006 12-Feb-21 200,000 279,000 Saint Augustine, FL, USA
53 Selene 53 Ocean Trawler 2006 11-Feb-21 840,000 885,000 Seattle, WA, USA
49 Meridian 490 Pilothouse 2007 29-Jan-21 340,000 365,000 Pensacola, FL, USA
47 Grand Banks Heritage CL 2007 29-Jan-21 552,000 625,000 Aventura, FL, USA
53 Selene 53 Pilothouse 2006 29-Jan-21 560,000 699,000 North Kinston , RI, USA
53 Selene 53 2006 25-Jan-21 560,000 675,000 Wickford, RI, USA
53 Selene 53 Long Range Ocean Trawler 2006 14-Jan-21 655,000 799,900 New Bern, NC, USA
53 Selene 53 Ocean Trawler 2006 6-Jan-21 675,000 745,000 New Bern, NC, USA
50 Ocean Alexander 50 Classico Pilothouse 2007 4-Jan-21 525,000 559,000 Mount Pleasant, SC, USA
50 Ocean Alexander 50 Classico Pilothouse 2007 30-Dec-20 488,500 559,000 Mount Pleasant, SC, USA
48 Kadey-Krogen 48 North Sea Widebody 2007 2-Dec-20 775,000 829,000 Annapolis, MD, USA
48 Kadey-Krogen Krogen 48′ North Sea 2007 2-Dec-20 772,000 849,000 Solomons, MD, USA
53 Selene Ocean Trawler 53 2006 1-Dec-20 735,000 799,000 Jacksonville, FL, USA
47 Grand Banks 47 Europa 2006 28-Nov-20 577,949 615,684 Vancouver, BC, Canada
48 Selene 48 Pilot House Trawler 2006 20-Nov-20 595,824 631,573 Sidney, BC, Canada
47 Grand Banks 47 Europa 2006 13-Nov-20 558,000 634,353 Vancouver, BC, Canada
48 Kadey-Krogen Whaleback 2005 12-Nov-20 615,000 679,000 Baltimore, MD, USA
48 Kadey-Krogen Whaleback 2005 12-Nov-20 615,000 679,000 Baltimore, MD, USA
49 DeFever “49” Cockpit Motoryacht 2006 4-Nov-20 362,500 375,000 Chesapeake, VA, USA
53 Eagle Pilothouse 2006 29-Oct-20 285,000 369,000 La Conner, WA, USA
47 Grand Banks 47 Classic 2007 9-Oct-20 615,000 639,000 Sarasota, FL, USA
53 Selene “53” Ocean Trawler 2005 8-Oct-20 605,000 650,000 Chesapeake, VA, USA
53 Selene Trawler 2005 7-Oct-20 605,000 710,000 Chesapeake, VA, USA
52 North Pacific 52 2007 2-Oct-20 425,000 459,000 Oak Harbor, WA, USA


1999 Cape Horn Long Range Trawler  $                  795,000 60 18 Steel Volvo 380 HP
2000 Nordhavn 50  $                  655,000 50 Fiberglass Lugger
2000 Kadey Krogen Whale Back  $                  592,000 53 17.25 Fiberglass Single CAT 210 HP
2003 Nordhavn 47  $                  689,000 48 16 Fiberglass Lugger 174 HP
2003 Seaforth Tradition LRC  $                  899,000 54 17 Fiberglass John Deere 330 HP
2006 Watson Watson 48  $                  850,000 50 16.5 Steel Perkins 185 HP
2007 Nordic Tug 54  $                  935,000 54 16.8 Fiberglass Cummins 670 HP
2008 Northwest 45  $                  950,000 45 15.8 Fiberglass John Deere 610 HP
2009 Kadey Krogen North Sea  $                  849,000 48 17.3 Fiberglass John Deere 201 HP
2009 Nordhavn 47  $                  880,000 48 16 Fiberglass Lugger 165 HP

Seahorse Marine Pilothouse

US$549,500 *

52 ft / 2007

Alaska, United States

Capital City Yacht Sales

Seahorse 52

US$469,000 *

52 ft / 2006

Deltaville, Virginia, United States

YaZu Yachting

Seahorse 52

US$539,000 *

52 ft / 2007

Marco Island, Florida, United States

Jeff Merrill Yacht Sales, Inc.


Privateer Trawler 52

US$504,420 *

51 ft / 2007

Elburg, Netherlands

Elburg Yachting BV

Custom Sprague                                                                                       

US$349,000 *

48 ft / 2006

Seattle, Washington, United States


Custom Neville 47 YW

US$495,000 *

47 ft / 2006

Annapolis, Maryland, United States

Forbes Horton Yachts



This survey is for the express purpose of insurance and/or financing.  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.



  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. Provide a means to access and utilize the foredeck escape hatch from below.


  1. The HIN is a US provided HIN and by format suggests the vessel was built in 2009 when it was actually reportedly built in 2006, 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.



August 19, 2022

________________________________                                      __________________

By:  Mr. Kells Christian, Surveyor   SAMS – AMS #301               Date