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I didn’t write this, so no need to excuse any grammatical or spelling errors.
Actually, any and all errors are pretty informative, in a way.

Valuation Survey Report

Survey: *********
Survey requested by: Owner for valuation purposes
Inspection location: Rocky Point, Sonora, Mexico
Date of Survey: 5/31/2015
Surveyor: ********, Ocean Dreams Yacht Services
Owner(s): **********
Official USCG#: 997668
Vessel Call Sign: N/A
Registration Country: United States
Hailing Port: Sedona, Az
HIN: CYC413904075
Year of Manufacture: 1974
Production years: 1969-1980
Type: Staysail Ketch 40
Designer: Robert Perry
Builder: Challenger Yachts Corp.
Manufacture Country: USA
Service: Recreational
Construction: Solid FRP hull, FRP deck, bulkheads, floors, stringers
LOA: 40.3 feet
Draft: 9.1 feet
Beam: 5.5 feet
Engine(s): (1) Diesel
Model: Nissan SD22 / Chrysler MN433 normally aspirated
Serial Number(s): not located
Number of cylinders: 4
Horsepower: 61
Water in Gallons: 165
Fuel in Gallons: 100
Hull Material: FRP
Gross Tonnage(GRT): 17
Net Tonnage(NRT): 16

Manufacturer history:
Founded by Howard D. Stern (1929-2005), Challenger Yachts is located in Wilmington CA. It was known for its high standards of construction and was said to be the first builder in the industry to offer an unconditional hull guarantee.

Survey Parameters:
The vessel was surveyed in water, in its slip, in Rocky Point, Mexico. The vessel was not hauled for survey purposes. All information contained in this report is limited to that which could be seen and inspected above the water line. Potential buyers are advised to haul this vessel and perform hull inspections prior to purchase. Surveyor did not ascent the spars, and all information concerning spars and rigging is limited to that which could be seen through binoculars. Attempts to test the mechanical and electrical systems are noted in the report. System tests and results will be noted in the appropriate sections.
This survey was conducted for the express purpose of determining the actual cash value of the vessel. All information and opinions based herein are the exclusive opinion of the surveyor. All parties who rely on this report are advised to seek independent confirmation of the condition of the vessel as a part of due diligence.
Surveyor has no interest in the surveyed vessel beyond the inspection and preparation of the survey report. All questions concerning the condition of the vessel, beyond that which is printed in this report, shall be directed to the vessel owner. Surveyor will not substantiate any information beyond that which is printed in this report.

Areas surveyed:
Hull and Topsides, Rubrail, Toe rails, Stanchions and lifelines, Decks and Deck fittings, Cockpit, Masts and Spars, Standing Rigging, Running Rigging, Sails and canvas, Interior hull, Forepeak, Master stateroom, Head, Saloon, Galley, Navigation station, Aft port stateroom, Engine and engine spaces, Batteries, Electrics, Electronics, Steering, Navigation equipment, Safety and firefighting, Ground tackle, Environmental Protection, Ancillary equipment

Survey Location:
The vessel was inspected at Balboa Marina, Rocky Point, Mexico on 5/30/15. The vessel was seen in water, in slip. When inspected, the vessel was seen in used condition. The vessel was reported to have been an ongoing post-retirement project of the owner. The vessel appears to have been in private pleasure usage for the whole of its existence.

Exterior spaces

The topsides were closely inspected and the following observations noted;

The hull topsides were seen to be of solid FRP construction. They were observed from outside the vessel and from the inside where reasonable access was available. There were no indications of collisions or prior repairs. The topsides were sounded with a plastic hammer. No evidence of delamination, voids, or osmotic blistering was observed. The topsides to the hull bond line were seen to be well joined with no separations or leakage observed.

Two significant fender rash spots were seen amidships on both the port and starboard sides. Both of these rashes were seen to be cosmetic abrasions from caused by fender rubbing. An 11” scar penetrating the finish, traveling at a 45% angle on the starboard side approx. 2’ from stern was observed. This scar did not appear to penetrate into the fiberglass to a significant degree, and appeared to be of a cosmetic nature only. A 1/2” circular abrasion amidships on the starboard side was noted. This scar did not appear to penetrate into the fiberglass to a significant degree, and appeared to be of a cosmetic nature only. Marine growth below waterline was observed. Given the warm water nature of the vessel location and the known rapid marine growth, this surveyor found the growth to be insignificant. (See suggestions)

The hull was closely inspected and the following observations noted;

Because the vessel was observed while in the water, the hull below the water line was inspected from the inside only. No sounding was performed. The hull was observed where reasonably accessible. No indications of cracking or delamination observed. The hull was seen to have a full length keel with a deep bilge. Several inches of bilge water were observed. The depth of the bilge water was seen to be below the bilge pumps, and at a reasonable level for this type of vessel.

The thru-hull fittings were seen to be of bronze type. They were hammer tested and found to be properly bedded and in good condition. All thru-hull fittings operated smoothly and were seen to be leak free. Secondary clamps were not observed on all thru-hull fittings (see Recommendations).

The shaft bearing was seen to be in good condition. The propeller shaft was seen to be of the 35mm s/s type, swinging an unknown propeller.

The antifoul was seen from the boot stripe to the waterline. The antifoul was seen to be flaking and in need of service. (see recommendations)

The rubrails were closely inspected and the following observations noted;

The rub rail was seen to be of solid teak. There were no indications of major dock strikes or collisions. They were seen unvarnished and capped with a stainless steel trim strip. The trim strip was seen to have been separated in three locations on the port and starboard side. This separation was determined to be the result of loose screws holding the trim cap in place.

Toe rails:
The toe rails were closely inspected and the following observations noted;

The toe rails were seen to be made of solid teak. No separation or rot was observed. There was an area of deterioration observed on Starboard rail amidships. This deterioration was seen to have been caused by mooring line abrasion from an improperly moored vessel at some time in the distant past. Both the port and starboard toe rails were seen unvarnished (see suggestions).

Stanchions and lifelines:
The Stanchions and lifelines were closely inspected and the following observations noted;

The stanchions consist of (4) 30” SS stanchions per side, including the gates. The lifelines, (2) ¼” SS 1/19 wires were seen to be vinyl coated and properly swaged at the terminus. No cracking in the vinyl coating was observed. The lines were seen to be strung between the SS bow pulpit and the SS stern railing. The stanchions were seen to be well bolted and properly bedded. Pelican hooks were observed at the gates. Only one top line was observed affixed to the port and starboard boarding gates. The bottom line from the rear of the gate on both port and starboard to rear pulpit were observed to be missing. (See Recommendations)

Some sagging in the lifelines was observed. This was seen to be adjustable at the lifeline turnbuckles.

Bow pulpit was seen to be solidly constructed of tubular SS, properly mounted, and properly bedded. There was no damage observed. The stern railing was seen to be solidly constructed of tubular SS, properly mounted, and properly bedded.

Decks, Coachroof, and fittings:
The decks, coachroof, and fittings were closely inspected and the following observations noted;

The decks and coachroof were seen to be solid FRP with wood ribs traversing the coachroof. There were no soft spots observed on the decks or coachroof. There was no observable cracking around coachroof bond line to deck line. There was no cracking or crazing observed in the FRP. The decks and coachroof were seen to have been repainted with an Interlux tip and roll Bright Sides, Hatteras off-white paint. The center tread sections of the decks were seen to have been painted with a contrasting off-white traction surface paint. The deck paint was seen to have deep brush strokes and over-paint onto the wood surfaces throughout. The repaint was observed to be recent work.

(2) deck ventilation hatches were observed, (1) hatch, approximately 18”x22” teak framed Plexiglas was seen on the coachroof above the salon, and (1) hatch, approximately 24”x24” was observed above the fore cabin. The teak was seen to be unvarnished, but solid and free from rot. The Plexiglas covers were seen to have been screwed to the teak hatch frame, approximately ½ inch thick, and beveled on the edges. The Plexiglas was seen to be crazed, but unbroken or chipped.

(2) Vetus dorades provide continual ventilation through the cabin. The Vetus stacks appeared to be newer installations. No defects observed.

(2) Stainless steel mast pulpits were observed located to port and starboard of the main mast. The pulpits are approximately 40” high, 30” wide, and properly spaced away from the mast to allow for secure and unrestricted working of the mast rigging.

Several deck cleats were seen spaced throughout the deck. All cleats were seen to be well secured and properly bedded.

(2) teak grab rails were seen fitted to the coachroof above the outboard decks. The rails were seen in serviceable condition with no broken or rotted wood. As with the rest of the yacht’s woodwork, the grab rails were seen in need of varnishing. They were seen to be securely fastened to the coachroof and properly bedded.

The cockpit was closely inspected and the following observations noted;

The vessel is equipped with rear cockpit configuration. The cockpit footwell is heavily constructed in FRP. The cockpit seats were seen to be molded into the well. The seats were trimmed with teak seat cushion retainers. The retainers were seen to be securely mounted and properly bedded. The seating was seen to extend from the fore cockpit coaming to starboard, to the stern, across the stern, back to the fore cockpit coaming to port, and across the fore cockpit coaming to the companionway hatch fore and starboard on the coaming. All the seating was seen to have teak seat retainers.

The cockpit was seen to be painted in the same tip and roll paint as the decks. Heavy brush marks and over-paint was observed. The port and starboard coaming was seen to be constructed from teak plank that was firmly attached to the FRP coaming. The edges of the teak coaming were seen to have SS cap railing.

A Shakespeare VHF antenna was seen mounted to the aft coachroof bulkhead, adjacent to the companionway.

Engine controls were seen to be mounted to the lower starboard well below the teak coaming. Controls consisted of engine gauges, keyed ignition, and a manual engine shut-off knob. Engine throttle and shifting was seen at the steering pedestal. A 30A 120VAC shore power inlet was seen mounted to the coaming fore of the engine controls (see Electrics). (2) stereo speakers were seem mounted in the aft cockpit footwell. These speakers were seen to be deteriorated from sun damage and tested inoperable. A remote windless plug-in was seen affixed to the center aft coaming to port of the emergency bilge pump (see ground tackle).



  1. Nice.

  2. ….did you post photos of this boat?

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