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Bertram31.com General Bulletin Board
Re: B31 valuation - beware
Posted By: Walter Kaprielian In Response To: Re: B31 valuation - beware (thuddd)
Date: Tuesday, 29 November 2005, at 1:19 p.m.
About 6-8 years ago, my insurance company (Traveler's) said they would not insure the boat for more than $30,000 because of it's age. After I explained that it was restored and repowered, THEY sent a surveyer who, after looking at the boat told me not to worry, and they raised it to $70,000. When I asked the surveyer for a copy of the survey, he said he couldn't give it to me as the insurance company paid for the survey. Soooo I hired him to come back on Saturday and do it over for me. He did and when he gave it to me it said "Market value $75,000, replacement value $265,000.
Quite a difference. Doesn't make business sense to me. Walter
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