ME186 - Yacht Appraising for the Marine Survey RECORDING
This webinar details the appraisal process for marine surveyors. It discusses when a surveyor might be asked to perform an appraisal. Surveyors will learn the difference between pre-purchase surveys and appraisals. The webinar will introduce the Uniform Standards of Professional Appraisal Practice (USPAP) and direct the student to additional information. Students will learn the three approaches to valuation and when each would be appropriate. Finally the webinar will discuss the required elements of an appraisal report, based on USPAP Standard 8.
Upon webinar completion, the participant will be able to:
Identify the occasions when a marine surveyor might be asked to perform an appraisal.
List the three approaches to value. Analyze which would be applicable to the subject assignment.
Locate sources of comparable yachts sold and for sale.
Identify and analyze the differences between comparable yachts and the subject yacht.
Perform the necessary Calculations to develop the Cost Approach.
Organize and Summarize findings for a suitable report.
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.