C & V SURVEY
Condition & Valuation
|Client: Removed for privacy||Date of report: May 10, 2021|
|Current owner: Removed for privacy||Our file #: 21 – 20065web|
|Location: Driscoll Boatworks, Mission Bay,
San Diego, CA
|Date of inspection: May 4, 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: Sagwag Boatyard (Norway)||Doc. #: Removed for privacy|
|Model/type: Colin Archer topsail ketch||Engine/MFG: Isuzu|
|Year: 1934||Model: GBB1|
|Length: 53’ / 71’ (with sprit)||Serial numbers: Not visible on engine|
|Draft: 6’ 7”||from manual UM – 6BG1 – MUG|
|Beam: 17’ (approximately)||Type of instal. : Diesel, six cylinders|
|Name: Removed for privacy||Inboard|
|HIN: Removed for privacy||Generator: 8.6 kw Mas Power
Hailing port: San Diego, CA
HULL & STRUCTURE
|The vessel was inspected while hauled. Hull construction material is three layers of cold molded fir on oak frames with yellow cedar exterior planking fastened with bronze screws. Frames are reinforced with steel straps. 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 satisfactory – good. The vessel’s weight is unknown. Exterior rails and hardware appear good. Mast, mast step, standing rigging and chain plates, where visible, appear good. Cosmetic condition of vessel appears satisfactory – good externally and satisfactory – good internally. Vessel’s external colors are varnished planks with white painted bulwarks above. Below waterline through hull fittings appear good. The vessel is equipped with one manual and one AC electric and electric / automatic bilge pump that appear good and the bilge is dry but has been holding water. The ventilation system consists of a blower and natural ventilation and appears satisfactory. General housekeeping appears satisfactory.|
|Summary: Satisfactory – Good|
|Engine’s external surfaces appear satisfactory and exhibit no significant rust, oil or coolant leaks. Engine hour meter exhibits 327 hours. Motor mounts appear satisfactory. Cooling system appears satisfactory. Fuel system and components appear satisfactory. Exhaust system and components appear satisfactory – good. Electrical system and components appear satisfactory. Engine control system appears satisfactory – good and shaft log appears good. Steering control system appears satisfactory. Propulsion components appear good. Generator was not accessible. The generator’s hour meter exhibits 50 hours. Waste systems and components appear good. General service seawater systems appear good.|
|Summary: Satisfactory – Good|
|There is 280 gallon capacity in three aluminum tanks, one aft and two forward of engine. Fuel tank surfaces, where visible, appear good – excellent and the securing mechanism appears excellent. The fuel fill, vent, feed and return lines and components appear good – excellent. Fuel shut off valves are located at tanks and appear good.|
|Summary: Good – Excellent|
|The AC shore 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. 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.|
|SAFETY AND LIFE SAVING|
|Vessel has portable fire extinguishers, three with January 2021 tag dates and two expired. Vessel has a FireBoy clean agent fixed fire suppression system with January 2021 tag date. The vessel includes a smoke and CO alarm. The safety components include: 24 adult and 5 child type I PFDs, 2 infant type III PFDs, two life rings, one with a retrieving line, one type IV throwable PFDs; distress flares with current certification, 10 person and 12 person life rafts with current (July 2021) and expired (November 2020) certification; first aid kit; 40 lb. Navy type, 35 lb. CQR type and 22S Danforth anchors with chain and line rode that appears good. Navigational and anchor lights appear good (not tested). Navigation rules and waste management plan were seen. Vessel has oil and waste placards. Other safety equipment includes MOB strobe light, EPIRB with battery expiration May 2026 and registration expired April 2020, life sling, high water alarm panel, canister airhorn, CO / smoke alarm, SOS light, two emergency plugs|
|The vessel was not inspected at its normal slip location.|
50 amp / 125 volt shore power inlet, B & G T7 multi-function device radar, Kelvin white compass, hydraulic steering, two wooden masts, keel stepped, tan bark sails, main sail has mast hoops, wood bow sprit, Simpson Lawrence and Co. S7 manual windlass, foredeck “dog house” companionway, butterfly hatch and deck prisms, two Clean nav spinning windshield devices, cabin top butterfly hatch, Horizon VLH – 300 loud hailer, Horizon HX 300 handheld vhf, electrical distribution panel to starboard in pilothouse includes main and branch AC and DC circuit breachers, AC and DC volt ammeters, and an AC source selector switch, Magnum inverter controller, wema type tank level indicator, interior and exterior helm stations, ProNautic 12 – 30P battery charger, Magnasine MS 2024 inverter, B&G multi-function device, Icom IC – M330 vhf, Ritchie compass, engine instrumentation includes tachometer with hour meter, oil placard, Racor fuel filters with vacuum gauge GFCI outlet, head includes electric head, sink and waste y valve, waste placard, force 10 electric stove, refrigeration, galley sink, plastic holding tank, Shurflo Aqua King II fresh water pressure pump, two plastic water tanks, Kuuma 59603 water heater, extensive tool inventory, lead ballast forward in bilge
|According to documentation aboard the vessel it was originally built in 1934 in Norway by Henik Lagen. Cloudia Adventures LLC performed a major refit of the vessel which began in 2009 and extended for 7 ½ years. The work was guided by Sharp Design (naval architects). The vessel was “gutted” and rebuilt, using new wires, new fuel tanks and a new generator. The masts were serviced and the standing rigging was replaced. The superstructure was rebuilt. The undersigned surveyor inspected the vessel several times during the process. This survey was conducted while the vessel was hauled, numerous electrical components were tested but the engine and generator were not tested. The vessel appears to be structurally sound and suitable for its intended purpose as a passenger carrying vessel. The vessel has a Certificate of Inspection for 12 passengers and a route of lakes, bays, sounds and limited coast wise which expires on June 17, 2021. The U.S. Coast Guard is scheduled to perform their 5 year inspection on May 5th, 2021.|
|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.
|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 value of the vessel is based on the data below and our opinion of the value of this project, based on the extent of the rebuild and the successful completion, including obtaining a Certificate of Inspection. The value assumes successful renew of the COI. The vessel is unique and very few valid comparables are available; the values below show the range of value for antique and classic vessels, inspected vessels and restored vessels. The value given to this vessel is our interpretation of where this vessel’s value should be in this large range.
|Length ft||Boat||Year||Sold Date||Sold Price||Listed Price||Boat Location|
|49||Jeanneau Sun Odyssey 49 DS||2007||5-Dec-20||183,500||189,950||English Harbour, Antigua and Barbuda|
|63||Atlantic City Charter schooner||1984||11-Dec-19||80,000||89,500||Miami , FL, USA|
|54||Custom Searunner 54 Day Charter Passenger Catamaran||1996||21-Nov-19||450,000||485,000||Wailuku, HI, USA|
|50||Custom 50′ Day Charter 60 pax||2017||15-Nov-19||300,000||300,000||Punta Cana, Dominican Republic|
|19||Cornish Crabbers Shrimper||1987||13-Sep-19||6,000||9,000||Deep River, CT, USA|
|64||Custom Searunner 64 Day Charter Passenger Catamaran||1993||10-May-19||600,000||689,000||Lahaina, HI, USA|
|75||Custom Inspected Treworgy Schooner with current COI||1996||27-Mar-19||250,000||299,000||Key West, FL, USA|
|43||Morgan 43||1985||18-Mar-19||72,500||79,000||Port Charlotte, FL, USA|
|45||Voyage Yachts VOYAGE 45 DC||2012||25-Feb-19||265,000||299,000||Fort Lauderdale, FL, USA|
This survey is for the express purpose of insurance underwriting, 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.|
- The fixed fire extinguisher’s pressure gauge is low, the owner stated a new bottle has been ordered. Install the new bottle per the manufacturer’s recommendations.
- We could not open the aft deck access hatch and inspect the generator. Free up and prove the hatch functional. Access and inspect the generator and any other components in this area and address deficiencies.
- Replace wing nuts used on the battery to port in the engine room. Use steel nuts and lock washer. Comply with ABYC recommendations.
- We did not move the generator’s seawater intake through hull valve. Access is difficult. Prove the valve properly functional. Consider modification to allow more easy access and movement of the valve.
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 Christian, Surveyor SAMS – AMS #301