ME184 - Introduction to Yacht Appraisals

  • Registration Closed

Wednesday, May 31, 2023

1:00 p.m. - 3:00 p.m. Eastern


The ASA accredits marine surveyors in two specialties within MTS: Marine Survey Yachts and Marine Survey Commercial. There are about 2000 to 2500 marine surveyors in the United States, but only four accredited appraisers in the yacht field and nine in the commercial field. The two disciplines are quite different. This webinar will discuss some of the resources used and challenges faced by the four ASA's who appraise yachts. The content is designed for ASA MTS appraisers but would also be suitable for marine surveyors who are not ASA members.  

Course Audience

Primary - ASA MTS Appraisers
Secondary - Marine Surveyors who are not ASA members

General Webinar Information

Login to ASA's webinars are through your Education Dashboard on the ASA website.  In addition, this presentation will not be recorded or made available post-webinar for purchase via the ASA Marketplace

System Requirements

To ensure the best ASA webinar experience, be sure to download the Zoom app on your device before the webinar begins.

Continuing Education (CE) Information

This webinar will award 2.4 CE hours.

If you are a designated member of the American Society of Appraisers, CE credit will automatically be entered into your record ONLY if you participate in the live webinar. Please allow approximately 2 weeks post-webinar for ASA to notify participants via email regarding a certificate of completion.

Stephen Knox


Knox Marine Consultants

Stephen Knox has been a full-time marine surveyor and appraiser since 1987. He has been an Accredited Senior Appraiser (Yachts) since 1999 and is one of only four surveyors/appraisers in the United States to hold this designation. He recently published a series of three technical articles on yacht appraisal in the MTS Journal. Steve has taught approximately one hundred classes on various marine topics over the last thirty years, ranging from one-hour seminars to five-day classes. He qualified as an ASA instructor in 2003.

He has qualified as an expert in various marine subjects, including appraisal. Steve has testified in both state and federal courts on appraisal.
Prior to starting a marine survey business Steve was a naval officer on a nuclear submarine, a design engineer/project manager in a naval architecture firm, and the production superintendent in a small shipyard.   

Upon completion of this webinar, attendees will be able to:

Identify and Describe the relevant characteristics of the subject yacht. 

Locate sources of comparable yachts sold and for sale. 

Identify and Analyze the differences between comparable yachts and the subject yacht. 

Organize and Summarize findings for a suitable report. 

Yacht Appraisal

Stephen Knox, ASA


 Examples of yacht appraisal assignments

Pre-purchase survey, C&V survey

Determining ACV to settle a first party claim

Third party claims

Limitation action

Diminution in value

Divorce in litigation

Value of a donated boat

Uniform Standards of Professional Appraisal Practice Very brief review of applicable sections.

Types of value – yachts

Replacement Cost New

Reproduction Cost New

Fair Market Value

Orderly Liquidation Value

Forced Liquidation Value

Not types of values!


Approaches to value

Sales Comparison Approach

Cost Approach

Income Approach


Sales Comparison Approach

Sources of value information

The pricing guides

BUC Used Boat Price Guide

              ABOS Marine Blue Book

              NADA Marine Appraisal Guide

Sales listings

Yacht World

Boat Trader

Craigs List

Adjusting comparable sales and asking prices



Cost Approach

Determining replacement cost

Determining an appropriate depreciation scale


Income Approach

Usually not applicable to yachts

General approach


The Appraisal Report

Scope of Work

Intended Users

Effective Date of Appraisal




Society of Accredited Marine Surveyors (SAMS) Recommended Report Content

[These are inspections done on behalf of a yacht buyer to determine the condition and value of a yacht. The bulk of the report is devoted to the condition findings. The following are the requirements concerning value.]

Current Market Value or Fair Market Value

Estimated Replacement Cost

A statement of the method used, showing the calculation as to how the valuation was determined.

The valuation section of the report should contain sufficient information showing the sources of the information used to develop the surveyor’s opinion of value of the vessel. This should include a summary of the comparable vessel sales and book values relied upon.




Join Live Webinar: Introduction To Yacht Appraisals
05/31/2023 at 1:00 PM (EDT)  |  120 minutes
05/31/2023 at 1:00 PM (EDT)  |  120 minutes Join Live Webinar Passcode: 992042
Webinar wrap-up
ME184 Webinar Survey
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ME184 Certificate
2.00 CE credits  |  Certificate available
2.00 CE credits  |  Certificate available Open certificate for the option to print.