Same engine, same concluded figure. Switch at any time.
Before you begin
This tool is a calculation aid. It performs arithmetic on the data you supply — comparables, guide values, condition ratings and the adjustments you choose — and produces an indicated value and draft narrative. It does not verify your data, exercise professional judgment, or constitute an appraisal.
Every figure depends on your inputs. The results, and anything incorporating them, remain your professional judgment and your responsibility; the developer accepts no liability for any decision arising from your use of this tool.
What this tool records. Report counts against a
random identifier in this browser, your device type, approximate location, and how
long the worksheet took to fill in. No vessel details go into these
figures — not the boat, not your comparables, not your client, not any
figure. A comment includes the email you give, so I can reply;
it is never sold, and never used for marketing.
Stripe handles tips.
Reading a file or listing, asking the guide, and sharing by link
each send data off this device. Reading and asking use AI, counted per account.
What is recorded, and why
explains them.
Switch at any time. Everything you have entered comes with you, and the concluded figure does not change; the mode changes the wording and what the analysis document is written to do. A broker’s analysis applies the same methodology but is not an appraisal, and says so.
Reset this section?
Settings
Yours, not any one valuation’s. Signed in, they are kept with your account, so they are the same on any computer you sign in on.
Your details on the analysis document
Drop your logo here
or click to choose — PNG, JPEG, SVG or WebP, up to 400 KB
Each line appears in the header of the analysis document only if you fill it in: a blank field leaves no gap. Telephone, email and website share one line.
Kept in this browser and, when you are signed in, with your account. Saved with each valuation, and left out of a copy you share with someone else.
New valuations
Each section shows its heading and a one-line summary until you open it. Untick to have every section open, as it used to be.
A new valuation starts with “Use the calculation date” ticked under its effective date. Untick to start with a date you set yourself.
Change it under Subject Vessel Adjustments on any valuation where it is not so. A saved valuation keeps the level it was saved with.
Your saved defaults
Settings you change on a worksheet (rounding, the depreciation scale, blend weights, condition percentages, the expected-sale deduction and the rest) are remembered as your starting point for the next valuation. Reset to Defaults puts every one of them, and the choices under New valuations, back to the tool’s own. Your details and logo above are kept unless you tick the box when asked.
Identify the vessel you are listing. Nothing here is required beyond
year, make, model and location — at first contact that is usually all anyone has.Identify the subject vessel. Anything captured below fills the
editable fields for your review; nothing reaches the analysis unreviewed.
Pasting text from a listing page? Open every “Show more” and Specifications panel first. Anything still collapsed is not copied, and its figures will be missing here.
— or drop screenshot(s) —
— or paste the details —
Paste the listing URL here optional
Or paste the listing text — it carries far more detail than a picture. Screenshots, PDFs and Word files work too: drop them here or click to choose.
Paste the listing URL here
Works with any page describing her: her listing, an earlier one, a sister ship, or the builder’s specification. Or paste what the owner sent you: an email, a spec sheet, your own notes. Text carries far more detail than a screenshot. Files work too: drop or click for an image, PDF or Word.
Vessel
Valuation
Drives every age calculation.Set to today’s date each time you calculate.
Noted in the narrative. Enters the calculation only as a last resort, if no comparable sales, active listings or guide data are entered — otherwise it plays no part.
The price the vessel is listed at, or the figure the
seller has in mind. Tested against the evidence rather than used to set it —
unless no comps, active listings or guide data are entered, in which case it
becomes the basis by default. Leave it blank and the analysis states a recommended asking range instead of testing a figure.
Engine hours priced from engine lifeoptional
Each engine hour uses up a share of a new engine. With the number of engines, their expected life and the price of a new one, each comparable’s Engine Hours adjustment is worked out in dollars: the difference in hours, at the cost of an engine hour, for each engine. Hours past the expected life count as fully used.
All optional. Propulsion affects which price index is offered for replacement-cost escalation in Section 5 and, with the fuel type, the default engine life used to price engine hours (above); it does not otherwise adjust the value. Hours are per engine; separate multiple engines with / and they are averaged. Where set, the matching adjustment on each comparable is directed automatically.
These three attributes exist to direct per-comparable adjustments rather than to describe the vessel for its own sake. Setting water use to freshwater, for instance, means a saltwater comparable is adjusted downward automatically and in a consistent direction, instead of deciding the sign afresh on every row.
Propulsion is different from the other three: it drives no adjustment at all. Its only job is to preselect the boat-building price index used if a replacement cost is escalated in Section 5, because BLS publishes separate series for inboard, outboard and sterndrive vessels. Left unspecified, the broad all-boat-building index is used, which is the honest default when the drive type was never established. Whatever it is set to, the index remains selectable by hand in Section 5.
Leaving one at Not specified is a real answer, not a gap: the corresponding adjustment is locked at zero and the narrative does not claim a difference that was never established. Water use in particular is never inferred from a listing, because it is rarely stated and guessing it from location would be a guess dressed as data.
2Sold Comparables
Recorded sold prices are the primary basis for market value. Each sale is normalized to the subject’s age before it is used.
Do you have recorded sold prices for comparable vessels?
Sold comparables are the primary basis for market value.
Drop or paste sold comparables here optional
A SoldBoats screenshot, a spreadsheet or a copied table — each sale becomes an editable row you can check and adjust.
Each retained sale: as sold and as indicated
Sold priceIndicationConcluded value
As of the last calculation — inputs have changed since. Recalculate to redraw it.
SortRetained
Age, age adjustment and indication: as of last calculation
Normalizes each comparable to the subject's age at the effective date.
Every comparable is a different vessel sold on a different date. Two things separate it from the subject: it may be a different model year, and it may have sold some time ago, by which point the subject has aged further.
Handling those separately invites double counting, so both are collapsed into one comparison of age at date of sale — how old each vessel was at its own relevant date. A 2015 model that sold in 2023 was eight years old at sale. A 2018 subject valued in 2026 is also eight years old. Same age, so no adjustment is warranted. (This is chronological age. What ASA calls effective age, the age a vessel's condition implies, enters through the condition percentage in the adjustments section, not through the scale.)
Linear applies a flat percentage per year of age difference — simple, non-compounding, and easy to defend line by line.
Martin publishes two tables giving the proportion of replacement cost a vessel retains at each age — Recreational for pleasure vessels, Commercial for commercial vessels. Depreciation is front-loaded, which reflects the market more closely than a flat rate. They are applied here as the ratio between the subject's retained value and the comparable's, which cancels replacement cost out of the arithmetic. This is an extension beyond the tables' stated purpose, and the narrative discloses it. Recreational is published to 35 years, Commercial to 40; past its own published range a table is extrapolated and every affected row says so.
Fitted to these sales is not published at all. It measures the rate of decline from your own comparables: each achieved price is expressed as a proportion of replacement cost new, and an exponential curve is fitted through those proportions against age, forced through full replacement cost when new. It needs a Replacement Cost New in Section 5 and at least three retained sales. Because it is measured from this set, it carries no authority beyond it — and the document says so, in place of the extension disclosure the published scales carry.
None of these is recommended in the abstract, which is why the tool no longer says one is. The cards above the chart measure each scale against what your own vessels actually achieved and mark which one sits closest, so the choice is made from this set of sales rather than from a label. They stay in one order whichever is chosen, so nothing moves under the pointer. Selecting a card selects that scale.
Read the fitted figure carefully: that curve is scored on the very sales it was derived from, so it will almost always sit closest. It shows how well the curve describes those sales, not that it would predict one it has never seen. The gap between the two tables is the honest signal — a Recreational figure far above Commercial, or far above the fitted curve, says this market does not depreciate the way the published table assumes.
Enter the subject vessel’s model year in Section 1 to enable age normalization. Without it, comparables are used at their achieved prices with no age adjustment, and the narrative will disclose that no normalization was applied.
4%per year — depreciation
1%20%
Uncheck to compare model years only, ignoring when each comparable sold.
A comparable that sold two years ago sold at a price reflecting that vessel's age then. Treating that price as current, while separately adjusting its model year to match the subject, produces an indication of a younger vessel than the one being appraised.
Worked through: a 2015 model sold in 2023 for $500,000 was eight years old at sale. A 2018 subject valued in 2026 is eight years old today. The correct indication is $500,000. Adjusting only the model year — three years at 4% — returns $560,000, overstating by 12%, and the error grows with the age of the sale.
Leaving this unchecked is not neutral; it assumes every comparable sold on the effective date. It is offered because some preparers prefer the simpler model-year comparison, and because comparables without a recorded sale date fall back to it automatically, with disclosure.
This adjustment measures aging, not market movement. Market movement is handled separately below.
Market Conditions Adjustment optionalnot applied
This is not depreciation — aging is already handled by the scale above. This is for the market itself moving.
Age normalization handles each vessel getting older. It does not handle price levels shifting across the whole market — the post-2020 surge, or the softening through 2023 and 2024. Those are different forces and can point in opposite directions in the same year.
Do not use this for depreciation. If a year simply saw more depreciation, that is the scale’s job and it has already been done. Using this field for it would charge the same years twice.
Hold age constant when deriving the figure. The wrong question is “how much did prices change between 2023 and today?” — the vessels selling today are older, so that answer has depreciation baked into it. The right question is “what did an eight-year-old vessel of this class fetch in 2023, and what does an eight-year-old vessel fetch today?” The figure shown beneath each field tells you what has already been accounted for.
Do not derive these figures from the comparables below. Adjusting a set of sales by a trend measured from those same sales is circular.
Answering “no” is a legitimate position and is stated as such in the narrative, so that no adjustment reads as a decision rather than an oversight.
Did market price levels shift between these sale dates and the effective date?
One row for each year your comparables sold in. Enter the price-level change for an equivalent-age vessel between that year and the effective date — age held constant, so it is not depreciation.
Boats Group, the derived spread of your own comparables, and the BLS boat-building index are read automatically once selected above. For anything else, consider J.D. Power quarterly Marine Market Reports, NMMA industry statistics, or your own sold-data provider, filtered by year of sale on a same-age basis.
3On-Market Listings
Vessels currently listed for sale — the competition. These establish where the subject stands in today’s market: what a buyer weighing her against the alternatives is actually looking at. The subject vessel does not belong here.
Do not enter the subject vessel here, even though she may well be listed for sale herself. Her asking price already sits in Section 1, where the analysis tests it against the evidence rather than counting it as evidence. Entered again here, she becomes part of the market she is being measured against — and where no sold comparables exist, her own asking price would help set her own value.
No URLs yet — paste one or more listing addresses.
Reads each listing (up to 20) and adds it as a row below.
Do you have current asking prices for vessels listed for sale?
Used for market positioning. Enters the value only as a fallback when no sold comparables exist, or if you deliberately blend it in.
Drop or paste listings here optional
A search-results screenshot, a spreadsheet or a copied table — every boat in a multi-vessel table becomes its own editable row.
#ListingListedAsking priceAge adj.Adjusted
Age adjustment and adjusted figure: as of last calculation
Derived from your sold comparables—the average gap between list price and sale price
10%deduction from average ask
0%30%
Deduction from asking prices, applied whenever active listings inform the value.
Active listings are what sellers hope to achieve, not what buyers paid. Across most segments the achieved price lands below the asking price, so using listings at face value biases the conclusion upward.
The deduction applies only when listings actually inform the value — as the automatic basis where no sold comparables exist, or as a blended source. Where listings are shown for market context alone, nothing is derived from them and no deduction is made.
Where your comparables record both asking and achieved prices, the observed spread reported in the narrative is a direct check on whether this figure suits your segment.
4Valuation Guide Reference
BUCValuPro™, NADA or PowerBoat Guide figures. Reference by default — they enter the value only if you deliberately blend them in, or automatically if no sold comparables or active listings are available. Leave it blank if the vessel is not listed in any guide; the analysis then rests on comparable sales alone.
Do you have valuation guide data — BUCValuPro™, NADA or PowerBoat Guide?
Reference by default. Becomes the value basis only with no sold comparables or active listings, or if you choose to blend it in.
Drop or paste the guide report here optional
A screenshot or PDF of the report — it fills the value range below for you to check.
If the report prints one cited figure, as Price Digests does with its Retail column, enter it as Low and leave High blank; it is used as it stands. Two figures are a range.
This is about the guide’s own figures, not the subject vessel’s condition — that is Section 6 and nothing here changes it.
What it is for. A guide range may already have a condition uplift or reduction built into it before you touch anything. If it does, and you also apply a condition percentage in Section 6, condition gets counted twice — once by the guide and once by you. This setting is how the analysis knows which case it is in.
It does not move the concluded value on its own. What it changes is what the document discloses, and whether a double-count caution is raised in the ledger and the narrative.
Read it from the report — the default, and right nearly always. The tool decides in this order: the Condition Adjustment as printed figure above, if you entered one — a $0 there means the guide applied nothing, whatever the condition is called; failing that, the condition name, which it can only judge for guides whose vocabulary it knows. The document then states which of the two it went on, so a reader can see whether the answer was read or inferred.
Yes — the range already includes it — the analysis treats the guide range as carrying a condition adjustment. If you also blend the guide into the value and apply a Section 6 condition percentage, the ledger records a double-count caution and the narrative states that the guide figures were produced with a condition already selected.
No — the range is condition-neutral — the analysis treats the guide range as carrying none, so no caution is raised. Use this when you can see from the report that the guide applied nothing but the tool has guessed otherwise.
Either answer you give outranks what the report says, because you are the one looking at it. The document records that you stated it.
BUCValuPro starts from the same values as the printed BUC Used Boat Price Guide at the beginning of each edition, and is updated as new information is gathered. Its condition and area adjustment scales are more granular than the broader scales printed in the book, so a percentage taken from the book’s table will not always reproduce a BUCValuPro figure and should not be used to check one.
Condition and area. Unless the user specifies otherwise, the evaluation is given for a vessel in “BUC condition” in the Northeast & Mid Atlantic area — a vessel ready for sale, requiring no additional work and normally equipped for its size. Any other condition named on the report means an adjustment is already inside the figures.
What is and is not included. Engine value is included in most cases, but for outboard vessels the engines are excluded and offered as an addition. Trailers are always excluded and offered the same way.
Replacement value, in BUC’s words, reflects the market price of a new boat with average equipment. It does not include condition or area adjustments, and for an outboard boat the engines are not included.
Matches are returned by decreasing probability of fit, so the model shown may not be exactly the one entered. BUC states it cannot evaluate every engine option for every model and displays the closest match.
Other published guides consulted for this vessel,
disclosed in the document. Reference only by default — they enter the value
only if you choose to average them below.
A valuation that consulted four guides and reported one has told the reader less than
it knew. Listing each source and what it said lets a reviewer see the spread between
them, which is often the most honest picture of how firm a figure really is.
Setting one aside is a legitimate judgment, and it is disclosed rather than
hidden. A guide that does not cover the model, prints a stale edition, or
reports a region the vessel has never been in may deserve to be excluded — but
the document names it and gives your reason, exactly as it does for an excluded
comparable. That is the difference between a considered exclusion and a missing
source a reader has no way to ask about.
By default, nothing entered here reaches the concluded value — the primary
report above is the only guide figure the calculation uses, whether automatically
(as the basis when no sold comparables or active listings exist) or because you
deliberately blended guide data into the value. Choosing “Average all included
sources” below changes that: every source here that is not marked excluded is
then averaged together with the primary report into the one guide figure used.
5Replacement Cost
Cost to build or buy an equivalent vessel new at the effective date. Reported for insurance and as context for the depreciation scales — and never used to derive market value, with one exception: the “Fitted to these sales” depreciation scale in Section 2 is measured against this figure, which does move the concluded value.
Replacement cost is what it would take to build or buy an equivalent vessel new at the effective date. It answers a different question from market value, which is what this vessel would sell for in its current condition, and insurers frequently want both.
It is also the basis Martin's two tables are actually published against — they give the proportion of current replacement value a vessel retains at a given age. Recording the figure here makes that relationship visible. It is also, by default, what the “Fitted to these sales” depreciation scale in Section 2 is measured against — see “Why it matters” under the engine-exclusion checkbox below, which is the one place this figure genuinely does move the concluded value.
Where the figure comes from. You ask the people who sell them. For a vessel still in production that is a call to the builder or a dealer: what does one cost new today, rigged comparably? That answer is the replacement cost. Enter it, record the source, and leave the escalation box alone — the figure is already current. A valuation guide may also print one, which is convenient when you have a guide, but it is one source among several and rarely the best.
When escalation is needed. Only when the best figure available is not current, and the usual reason is that the model is no longer built. If nobody can quote a new one because there isn’t one, and the strongest evidence is what the last hulls delivered for some years ago, that figure is real but stale. Escalating it to the effective date using a published boat-building price index is more defensible than reporting a stale number as current, or inventing an uplift. The same applies to a builder’s quotation obtained for an earlier appraisal.
Most valuations will not need escalation at all. Where it is used, the narrative states the source figure, its date, the index series, both index values and the resulting factor, so a reader can check the arithmetic.
Guide replacement figures are often stale or generic. Where you have a better number — a manufacturer quotation, a dealer's build sheet, your own experience of comparable new construction — enter it and record where it came from. The narrative reports the source, because “as quoted by the manufacturer” and “based on the surveyor’s experience” are different claims and should not read alike.
Do you want to state a Replacement Cost?
Reported for reference. Not used to derive market value, except that the Fitted depreciation scale in Section 2 is measured against it.
Tick this if the figure came from a guide that leaves outboards out — BUCValuPro does, and says so on the report.
Replacement cost is reported for reference and never derives market value — with one exception. The fitted depreciation curve divides every comparable sale by it to work out what proportion of a new vessel that sale represents, so a replacement cost short by the engines makes every boat look like it held its value far better than it did.
Measured on a real set: a replacement cost missing the engines produced a decline of 0.5% a year where the true figure gave 4.8%. The curve still fitted and still looked plausible.
Enter the cost of new engines of the type fitted, not their depreciated value. The whole figure describes a new vessel, so the engines in it must be new too.
The replacement cost is marked as excluding the engines, but no engine cost has been entered. Until it is, that figure understates a new vessel — and the fitted depreciation curve divides every sale by it.
A replacement cost has been entered without a stated source. Record where the figure came from — an unsupported figure is the weakest line in a valuation.
Only needed when the replacement figure is not current.
Most valuations do not need this. If you rang the builder or a dealer and they told you what one costs new today, that figure is already current. Enter it, record the source, and leave this unticked.
Tick it when the best figure you can get is not current. In practice that means one of two situations. The model is no longer built, so nobody can quote a new one, and the strongest evidence available is what the last hulls delivered for some years ago. Or you obtained a quotation for an earlier appraisal of the same vessel and still have it.
In both cases the figure is real but stale. Escalating it to the effective date using a published price index is more defensible than reporting a stale number as though it were current, and far more defensible than applying an uplift of your own devising.
What the narrative then says: the source figure, the year it was stated, the index series by name and identifier, both index values, and the resulting factor. A reader can pull the series and check the arithmetic. If the index has not been published as far as your effective date, the escalation stops at the last published period and the narrative says so rather than implying it reached the effective date.
This never touches market value. The escalated figure is reported for reference only.
Fills the two index values below from the published series.
The Producer Price Index is a measure of price change published monthly by the U.S. Bureau of Labor Statistics. It tracks what domestic producers receive for their output. Within it, BLS maintains a family of series for boat building, separated by drive type and construction, most extending back to December 1981 and the narrower ones to June 2011.
An index value is not a price. Each series expresses the price level of a period relative to a base period, shown beside the series name — for example, December 1981 = 100. A single reading carries no information on its own; only the ratio between two readings of the same series is meaningful, and that ratio is the escalation factor applied here. Readings from different series cannot be compared, since each is measured against its own base period.
Applicability. The PPI for boat building measures prices for newly manufactured vessels. It is therefore a measure of cost, appropriate to replacement cost, and it is not a measure of resale value. New-build costs and brokerage prices for used vessels move independently, and have diverged materially since 2020. Movement in the used market is addressed separately through the market conditions analysis applied to comparable sales.
Coverage. The drive-type series carry the qualifier “Except Sailboats and Lifeboats” in their official titles. For a sailing vessel, the industry-level boat building index is the closest published measure, as it reflects the output of the industry as a whole; the tool identifies this where it applies.
Currency. Values are retrieved from the BLS API at the time of use. Annual averages are used where published. The current year has no annual average until the year is complete, so its most recent monthly observation is used and identified as such. Individual series are discontinued from time to time; where a series ends before the effective date, the escalation is carried only to the last published period and the narrative states this.
PPI data is in the public domain. The same series are republished by the Federal Reserve Bank of St. Louis through FRED, which provides a convenient interface for reviewing a series and for reading values manually should the lookup be unavailable.
These are index values, not prices — two readings from the same BLS series, whose ratio gives the escalation factor. The lookup fills all three. Type them in only if the lookup is unavailable, reading both from the same series at fred.stlouisfed.org, and record the date you read them.
The escalation factor implied by these two index values is well outside the range a boat-building price index has moved over any plausible period. Check that both values come from the same series and that the years are the right way round.
6Subject Vessel Adjustments
How the subject vessel differs from the comparable sales. Condition and equipment are handled here together so the same advantage is never counted twice — choose one method below to drive the value. The condition rating always informs the narrative regardless of which method is selected.
How the value is derived — the figure every adjustment below is applied to. The tool uses the strongest available evidence by default; switch to Blend to combine sources with weights.
Comps primary is correct in nearly every case, and it is the default.
Recorded sold prices are what a vessel actually changed hands for; everything else is
an opinion about what one might. The tool takes the strongest evidence you have supplied
and uses it, so with sold comparables entered there is nothing to decide here.
Blend sources is for the case where more than one source carries genuine
evidential weight and none clearly dominates — typically when sold comparables are
few, or absent, and guide data or asking prices are the only other evidence available.
It is not a mechanism for moving the answer toward a preferred figure; weightings should
follow from the quality of each source and then be left alone.
Where comparables are plentiful and closely matched, blending usually weakens the
conclusion rather than strengthening it — averaging strong evidence with weaker
evidence produces something weaker than the strong evidence alone. Guide data is
reference material unless you have deliberately decided to rely on it.
Sources to blend. Weights redistribute across checked sources only.
Weights redistribute across checked sources only, so unchecking a source does not leave a gap — the remaining weights scale back up to total 100%.
Active listings, if included, contribute the average asking price less the expected-sale deduction from Section 3. They never enter at face value, because an asking price is what was wanted rather than what was paid.
Guide data you declined in Section 4 cannot be weighted here — it stands down and says so. An active-listings source with no data entered simply carries no value in the blend.
AB
50%50%
Total: 100%
Average condition
%click to edit
Sets the condition language used in the narrative. The percentage above is editable — click it to set a market-supported figure for the selected rating, or leave it at the default.
BUCValuPro publishes these six bands under the heading “Percent to be added or subtracted” — so, like this tool’s own condition percentages, the scale is additive and never compounds.
This tool offers eight stops where BUC names six bands: Fair and Above-average each get two, told apart by their percentage. “Average” and BUC’s “BUC Condition” are one idea under two names — a vessel ready for sale, needing no work, normally equipped for its size, and carrying no adjustment in either direction.
Nothing here is applied to your figure. A percentage of your own that falls outside BUC’s range is not an error: BUC’s bands describe the national used-boat market, and a preparer holding local sales evidence may properly land outside them. It is a difference worth being able to explain, which is the whole reason it is shown here instead of after the fact.
Source: BUCValuPro, Conditions (bucvalupro.com), as published.
These are mutually exclusive by design. Applying a condition percentage and itemized equipment for the same advantage would double-count it.
Equipment the comparables lacked. Enter contributory value, not installed cost.
Contributory value is what the market pays for a feature, routinely far below what it cost to install. A $180,000 stabilizer may add $60,000 to what a buyer will pay. Entering the invoice figure is among the most common ways an appraisal becomes indefensible.
Enter only equipment the comparable sales did not have. Where they carried similar gear, the advantage is already reflected in their achieved prices, and adding it again double-counts.
Items below were identified from the listing. Dollar values are intentionally left blank — enter your own market-supported contributory figure for each, and remove any that the comparables also had.
Off by default — keeps the narrative concise and avoids a brokerage-listing tone.
Receipts & documented cost optional
Documented cost applies under every method. A condition percentage is currently being applied — confirm that the receipted work is not already reflected in that condition rating, or the same improvement is counted twice.
Drop receipt / invoice file(s) here optional
or click, or paste — PDF, image or Word. Totals sum into the documented cost.
Auto-filled from dropped receipts (editable). Leave blank if unavailable (most valuations).
50%of documented cost added to value
0%100%
Resale markets rarely credit installed cost dollar-for-dollar. The credited portion is added as contributory value; the narrative explains the discount.
Additional discretionary adjustment(s) optional
Documented reasons outside condition and equipment. Applied last. State the basis.
This is the adjustment most likely to be challenged, because it is the one with no structural check behind it. Everything else on this page derives from data entered above; this is the surveyor’sbroker’s judgment applied directly to the result.
Legitimate uses: a known defect not captured by condition, a distressed or non-arm’s-length sale, an encumbrance, an inspection finding. Each should be stated plainly and supported by something a reader can verify. Left blank, the narrative attributes it to professional discretion — which is honest, but weaker than a stated reason.
If a discretionary adjustment is doing substantial work in the conclusion, that usually indicates the comparable set needs revisiting rather than the adjustment needing enlarging.
Additional Settings this valuation’s rounding, narrative and review prompts
These belong to the valuation in front of you, and are remembered as your starting point for the next one. Your name, logo and contact details, and how a new valuation opens, are in .
The concluded value
Applies to the narrative, the headline figure and the calculation summary alike.
Rounding signals the precision the analysis actually supports. A figure carried to the dollar implies an accuracy that comparable-sales analysis cannot deliver, and invites challenge on digits that were never meaningful.
The unrounded figure is always disclosed alongside the rounded one, so nothing is hidden either way. Turn rounding off where a specific figure is required — a settlement, a stated policy limit, or a lender's fixed amount.
Whichever you choose applies consistently. A rounded headline over an unrounded narrative is the combination most likely to be questioned.
Engine life
The expected life of an engine of each kind, used to price the difference in engine hours between the subject and each comparable (Section 1, Engine hours priced from engine life). Rules of thumb, not published figures: a valuation can state its own.
The narrative
On by default. Turning it off leaves the figure recorded in Section 5 and on screen, but keeps it out of the written statement — useful where the report addresses market value only and a replacement figure would invite questions it is not there to answer. It never affects the concluded value either way.
none — always summarize10
Applies to comparable sales, exclusions, and any vessel flagged for extrapolation or clamping. Beyond this count the narrative gives a range instead of a list.
Naming every comparable reads well with three and becomes unreadable with forty, duplicating a calculation summary that already carries the full detail. Past this threshold the narrative reports the count and the range instead.
Nothing is lost either way. Exclusions remain disclosed as a matter of USPAP regardless of how many there are, and every comparable is itemized in the calculation summary whatever this is set to. The setting governs how the prose reads, not what is disclosed.
Set to none to always summarize, which suits reports where the comparable schedule is attached separately.
The report
On by default. The document’s “Summary of the analysis” is the concise statement: one paragraph saying how the figure was built, closing on the supported range. Turn it off for a document that leaves the explaining to its tables and charts. It never affects a figure.
Review prompts
A review prompt, not a rule. No standard prescribes a figure here, so this is a default rather than an authority. A comparable requiring a large adjustment is weaker evidence than one requiring a small one; the analysis document marks those at or beyond this figure and leaves the weight they carry to you.
Inputs have changed since this was calculated — recalculate to update the value and narrative.
What happens when you ask. Your question and a summary of what you
have entered — the subject vessel, your comparables and their figures, and any
review notices the tool has raised — are sent to Anthropic’s Claude API to
be answered.
That is the only way it can tell you anything useful about your valuation
rather than about valuation in general. Nothing is stored on this site: the
conversation lives in this tab and goes when you close it.
Your firm block goes too, once a report exists. The summary includes
the text of the finished document, and your name, credentials and contact line sit at
the top of it. There is no client-name field in this tool, so a client is named only if
you typed one into a field yourself. Your logo is not sent.
If you would rather not send vessel details at all, close this panel — nothing has
been sent yet, and the rest of the tool is unaffected.
What is recorded, and why.
Recalculating writes a new narrative from the current entries. Choose
what happens to your edits. If you keep your wording, check that the figures in it are
still right: the worksheet will tell you if it no longer states the concluded value.
Tell me what would make this better
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feature. It is linked to the report counts already held for this browser. It is never
sold and never used for marketing.
We reply to the email on your account, often with a
control you have not found yet.
A copy of this worksheet is attached to your comment. Photos are left out unless you tick the box below. Your name, credentials, contact line and logo are always left out.
Concluded Market Value
$0
Up to date
How the figure is built
Every step from the basis to the conclusion, added once and never compounded, as the analysis document prints it.
Your edits are kept. Recalculate to bring the figures up to date.
Edited by you
Edited by you
The analysis documentShown as it will be printed and signed; the worksheet’s styling stops at this frame. The dashed prompts are left out of every copy.
Scan with your phone camera to open this document.
Prototype worksheet — verify all figures and extracted data independently. Not a substitute for surveyor judgment or USPAP compliance review.