One-Of-A-Kind Ships Can Be Valued

PT-305 Photo Credit: The National WWII Museum New Orleans

Did you know that ships from prior decades may still be afloat or on display somewhere in the world? While ship lovers may believe that every historic vessel is priceless, the real-world value is less sentimental about their value.

Expertise on this thought was recently shared by ASA member Norm Laskay, an accredited senior appraiser specializing in marine surveys, in an article published in PowerShips Summer 2023 by the Steamship Historical Society of America (SSHSA).

Laskay explained that such vessels are usually under the care of a museum or nonprofit organization that often has some historic or regional ties to displaying – or restoring and displaying – such a piece of history and that historic ships may need to be valued for several reasons like for donations, taxation or loans.

He also discussed important points about the need for USPAP-Compliant Appraisals and the various approaches used to produce credible and supportable appraisals.

Last, the article closed with thoughts on the privilege of being able to walk the decks and nether regions of such vessels and how assignments were interesting and challenging.

Images of vessels included in the article were a PT-305, Presidential Yacht Honey Fitz, The William P. Synder (St. Marys Challenger), Ann Arbor Railroad Carferry Arthur K. Atkinson, and The Queen Mary Hotel.

For more information about this topic contact Norm Laskay at nlaskay@DLSmarine.com.

To purchase an article reprint, visit POWERSHIPS MAGAZINE online here.

What to learn more? Register today for ASA’s ME208 Marine Survey class, to be held September 28-29, 2023, at the Sheraton New Orleans Hotel and virtually, with course instruction by the author, Norm Laskay.

Disclaimer: The views, opinions or examples included in linked article are those of the author and do not necessarily reflect an official policy or position of ASA or its members.