A free Word template for a boat or yacht appraisal report: purpose and basis of value, comparables and adjustments, market value and replacement cost, assumptions, and example findings that affect value.
Download the Word template.DOCXA boat appraisal report gives your opinion of what a boat is worth on a given date, and shows how you reached it: the purpose, the basis of value, the comparables, the adjustments and the assumptions. Lenders lend against it, insurers set agreed values from it, and courts and estates divide property by it.
Download the template in Word, or read on for what goes in each section.
The boat being valued and who asked for the valuation. The value only holds for the boat as described, so describe it fully.
Prepared for the executors of the late owner's estate. Inspected afloat at Annapolis on 9 October 2026. Effective date of value: 2 September 2026, the date of death.
Why the valuation was done and which value you are giving. Fair market value, replacement cost and a forced sale value are different numbers, and a reader who mixes them up can lose money.
Fair market value is the price at which the vessel would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
How much of the boat you saw. A desktop valuation, a walk-through and a full condition survey support different levels of confidence in the figure.
A short view of the condition and the findings that move the value. An appraisal covers condition only as far as the value needs it, and the reader still needs to know what you saw.
The evidence for the figure. List comparable boats, say whether each price is a sale or an asking price, and show what you adjusted for.
Six comparable Catalina 355s of 2014 to 2018 were found: three sold in the last 12 months at USD 182,000 to 205,000 and three listed at USD 199,000 to 229,000. Adjusted for her 2016 build year, new sails in 2024 and the gelcoat crazing noted, the range for this vessel is USD 186,000 to 198,000.
Your figures, stated once and clearly, in the currency the client asked for.
In the appraiser's opinion the fair market value of the vessel on 2 September 2026 is USD 192,000 (one hundred and ninety-two thousand US dollars).
What the value depends on. Readers such as courts and tax authorities read this section closely.
Your statement of independence, that your fee doesn't depend on the value, and your qualifications.
Each finding says what the system is, where it is, what was found and what should be done, with a grade for how urgent it is. These are written the way Axsail writes them from what the surveyor says on board.
Gelcoat crazing over about 2 square metres around the cockpit coamings.
Recommendation: Value reduced to reflect the cost of repair and refinishing.
Both sails replaced in 2024, with receipts. Little wear.
Recommendation: Value increased to reflect sails newer than comparable boats.
Hours above the average of the comparables. Service records complete.
Recommendation: Value reduced slightly to reflect the hours.
Charger output fault light lit; the charger doesn't charge on shore power.
Recommendation: Replace the charger. Value reduced by the repair cost.
Asking prices tell you what sellers hope for. Sold prices tell you what buyers paid. Use sold prices where you can find them, through brokers and sold databases, and keep them separate from listings in your table. Where you have only asking prices, say so and say how you adjusted for it.
A reader who disagrees with your figure will go to the adjustments first. Give each one a reason, such as engine hours above the comparables or sails two years old, and a direction. A court or a buyer's broker can accept a figure they disagree with if they can follow how you got there.
For the purchase side of valuation, see how to buy a yacht. For the insurance side, see the boat insurance survey guide.
A written opinion of a boat's value on a given date, with the basis of value, the comparables used and the adjustments made. It may include a short condition inspection. Lenders, insurers, courts, estates and tax authorities use it.
A survey reports on condition, system by system, and may include a value. An appraisal reports on value, with only as much condition inspection as the value needs. A condition and valuation survey does both.
For a boat donation where you claim a deduction over USD 5,000, the IRS generally requires a qualified appraisal by a qualified appraiser. Check the current IRS rules or ask a tax adviser before relying on a report for this.
Yes. Download it, add your logo and terms, and use it for your own appraisals. No sign-up.
Dictate as you inspect. Axsail builds the findings and the report for your signature
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