Boat Appraisal vs Boat Valuation

What is a Boat Appraisal?

Understanding the difference between a boat appraisal and a boat valuation is essential for buyers, sellers, insurers, brokers, and yacht owners. Although both terms relate to a vessel’s financial worth, they are not the same service.

A boat appraisal is a professional, technical, and legally valid evaluation of a vessel’s condition and value.

A boat appraisal is a technical, in-person inspection carried out by a certified marine surveyor or naval architect. It includes:

• Physical on-board inspection

• Structural condition assessment

• Engine & systems check (visual)

• Deck, hull, rigging (for sailboats)

• Electronics & safety equipment review

• Documentation and compliance check

• Detailed written technical report

• Market-adjusted value and depreciation analysis

A boat appraisal is typically required for:
✓ insurance underwriting
✓ financing/bank loans
✓ legal disputes
✓ damage assessment
✓ high-value purchases
✓ change of registration / commercial use

What is a boat Valuation?

A boat valuation is a fast, online estimate of market value but not a substitute for a full on-board boat appraisal.

A boat valuation usually refers to a market value estimate based on:

• Model

• Year

• Specifications

• Comparable listings

• Market trends

• Optional photos submitted by the owner

It often does not include a boat inspection.

It is usually done online and provides a quick estimate of the vessel’s value.

A boat valuation is commonly used for:
✓ pricing a boat before listing it
✓ understanding general market value
✓ quick, low-cost value estimation
✓ pre-negotiation guidance