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Bertram31.com General Bulletin Board
Re: B31 valuation - beware
Posted By: Vic Roy In Response To: Re: B31 valuation - beware (andre fourrier-Louisiana)
Date: Tuesday, 29 November 2005, at 9:14 p.m.
Like Andre' says, I'll be fine. If push ever comes to shove, I don't have to hire a lawyer, I already have a fool for a client.
The negotiated "agreed value" policies will require at least one survey up front so the bookies will know what they are dealing with. That survey money is money spent and gone, and only worth anything if you have a claim. On the other hand, the ACV (actual cash value) policies usually don't require a survey, so the bookie takes your bet (a/k/a premium) based on the amount it's insured for, within reason, but gets to argue with you after a claim what the boat is worth. You spend no money up front. Now you better be prepared to justify your value if you have a claim under a ACV policy.
But with most of our B31's, that's really not a hard hill to climb. I guess the Faithful know the true market value of just about every B31 on the face of the Earth. The most accurate information on the real market value of our boats lies with us, the people who own them, want to own them, really know them.
For example, let's go to court. Imagine a fanatsy trial before a jury where the issue is the value of a particular B31. I'm the lawyer trying to establish that the true market value is X. The opposing bottom dwelling scum sucker is a lawyer that rode on a Blubliner once and got seasick - he or she is defending a bookie that says our B31 is worth peanuts. So who am I gonna call as witnesses? You pick 'em, you know them. We all follow the values, who sold what B31 for what, what the value issues are, gas, diesel, decks, paint, etc, etc. I could parade countless real experts on these boats to testify to the jury and the blue book goes in the round file.
Anyway, my usual musings on what's right is right.
UV
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