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Incredible price reduction on Greavette utility: 20ft., 1949

April 10, 2019 in Uncategorized

We have been instructed by the owner to adjust the price on this classic Greavette. Originally, listed at $42,500, the current price on this classic Greavette. is $9,999. WOW!
This boat has been restored and a survey completed. Please see the notes below>
(Editor’s note: At this price point, it seems very likely that this boat will not stay on the market for long)

Notes from the owner:
The Greavette has been extremely well maintained.  It was originally commissioned in 1949 to be built for our family, and has been used by the family only since that time.  It underwent a complete restoration in 2008 by Monty Masterson.  You will see by the marine survey (below) that over $60,000 was spent on restoration in 2008.
The boat is beautiful and in excellent condition, with a survey completed in 2011.”
Price:  Was $42,500.  New price, as of April  20   $9,999 WOW!
For further information, please click on the link: Ad number pb517

(Additional photos and boat specifications below.)

Boat Specifications

Built by Greavette 1949- Hull #6

  • Mahagony
  • 20 feet Utility Launch
  • Registration 29E507
  • Refinished 1960s by Greavette Boat works
  • Refinished 1980s by Clift Boatworks
  • Complete restoration of “The Doc” Masterson Custom Boats August 19,2008 Invoice # 245026 $64153.32
  • Hull Varnished May 2009 (2 coats) Masterson Custom Boats $1162.00
  • Boat has always been stored in a wetslip boathouse- been lifted over slip on Beams in winter
  • Present Power best cruise 22-24 mph@3400 rpm, will reach 30 mph@4200 rpm
  • Propeller 12LH14
  • Boat brought to Pigeon Lake 1982
  • Boat does not have a mooring or cover except for rear cockpit


Built in Accessories:

  1. Spot light
  2. Bow and Stern Auto Bilge Pumps
  3. Running Lights- Bow and Stern Lifting Rings
  4. Exhaust fan Engine compartment
  5. Rear Levellors
  6. Horn
  7. Gas tank 20 Imperial Gallons
  8. Front and Engine compartment Air Ducts
  9. Levellor Controls


Instrument Display

  • Tachometer
  • Sppedometer
  • Engine Temp
  • Oil Pressure
  • Fuel Level
  • Voltage Meter
  • Engine Hour Meter


To Be delivered with Boat

  • Propeller
  • Propeller shaft
  • Starter motor
  • Ignition Kit
  • Engine Compartment Blower Motor
  • Certain Top Hardware
  • Motor Belts
  • Water Intake Filter Assembly
  • Some Engine gaskits
  • Bilge Pump
  • Climb-in ladder
  • Fuel Filter
  • Starter coil


Special Notes

  • This boat has operated as a  pleasure cruise since commissioning
  • Rear bits are special heavy duty for towing water skiers or aquaplane.
  • Engine was totally refurbished by Class A mechanic.

Please see the Marine Survey Results, (below)

Inspection Date: 9 July 2011
Report Date: 16 July 2011

Type of Survey: Condition and Value for Insurance purposes

At the request of Dr John Freedman I proceeded to the Borsook residence on Pigeon Lake at
Lakehurst Ontario on Saturday 9 July 2011 to carry out a brief general visual, non-destructive,
non-intrusive and non-invasive inspection of the subject vessel, a 1949 Greavette Utility
Runabout. An in-depth electrical survey was not requested or performed as part of this routine.
The vessel was in very good condition having been extensively and expensively restored to new,
or better than new condition in 2008.
The engine was not run or tested as part of the inspection routine. There is a presumption, that
the engine and its associated equipment and electrical system work satisfactorily and that they
have been properly winterized and maintained since the vessel was last used. The DC electrical
system was checked within the limitations and constraints in effect at the time of the survey
(system incomplete)
The subject vessel has reportedly been in the ownership of the Borsook family since new.
The late Mr. Beryl Borsook commissioned the extensive refit and refurbishment with Mr. Montie
Masterson, a master shipwright, specializing in wooden boat building and refurbishment. Mr.
Masterson had a well appointed boat shop near Bewdley, north of Port Hope Ontario where the
majority of the work was done culminating in the completion and delivery in 2008.This
inspection and consulting assignment was requested by Dr. Freedman after the death of Mr.
Beryl Borsook earlier in 2011.

Inspection Methods: The vessel was inspected visually with the vessel suspended over the
water in the boathouse. A very detailed inspection was not carried out because the vessel had
only been used for a short time before Mr. Borsook became ill. The earlier survey was used as
abase form for the conduct of this inspection.

Marine Survey Note: The purpose of a marine survey inspection on a particular vessel is
intended to determine, and record, the obvious, current, visual “point in time” condition of the
vessel, at the time and place of inspection within the limitations and constraints governing the
A marine survey inspection report is not intended, nor is it offered, as a warranty expressed or
implied for the good or otherwise condition of the vessel, only to record what was seen, observed
or measured at the time of the inspection.
Further, a marine survey inspection is not intended as a warranty of the vessel’s future condition
or value, or a warranty against future operational problems or manufacturer’s or other latent

Standards Used: While the Canadian Coastguard manufacturing standards TP 1332E and
prevailing applicable ABYC and NFPA and/or other industry accepted standards may have been
used as guidelines, they may not have been used or applied all-inclusively or exhaustively.
TP 1332 is the Canadian Coastguard’s building standard for new vessels built in Canada for use
in Canadian waters. These standards are also intended to be retroactive to older vessels as far as
practical (see TP1332 “application”). Where these and other standards are referenced they will
typically be to underscore and support obvious observed safety or other issues on older vessels.
Findings and recommendations will typically be supported by prevailing construction standards
and/or the professional judgment and/or opinion including, but not limited to, that of theattending surveyor.
The owner’s or purchaser’s statement (by phone fax or other means) of the “intended use”, and
“intended cruising area” of the vessel will be taken in consideration when the surveyor provides
an opinion on the vessel’s “suitability for service”
.Vessel Data
Vessel Make: Greavette Model: 20ft Mahogany Utility Runabout
Type/Style: Fully planning modified V mono-hull recreational single engine power boat.
Year of Manufacture: 1949
HIN/Hull #: 005
HIN # Verified From Manufacturer’s Data Plate: Yes
Visual Evidence of Alteration: No
Method of HIN Attachment: Screws to the wood structure, see photo.
Length: 20’
Beam: 6’7”
Draft: Approximately 12” hull only
Ownership Tendered: No
Ownership and Documents in Order: Not seen. ***It is recommended that the correct
paperwork ownership documentation be found and kept up to date.

Description of Vessel

The 1948 20ft Greavette Utility runabout is a classic wooden carvel planked vessel. The
construction is mahogany planking over white oak ribs. The underbody shape is of an interesting
type, being round bottomed forwards developing into a hard chine low-dead rise outrun aft.
The topsides and deck are finished in several coats of a high gloss marine varnish of high gloss
mirror-finish quality, see pictures.
As reported by Montie Masterson, several of the under body cedar planks have been replaced, as
have several of the topside mahogany planks. Some of the transom planks below the waterline
have also been changed. The staining and varnishing have given a very even deep, rich colour
between the new and old wood.
Mr. Borsook commissioned the deck fittings to be re-chromed and polished to a new or better
than new quality. This work has been done to an exemplary high standard throughout. All these
fittings have been refitted in a very professional manner, in keeping with the original character of
this beautiful classic.
The engine is not the original Kermath unit, having been replaced with a more modern Ford 302
cubic inch block V8 gasoline engine. This does not detract from the overall character style and
value of the vessel. The reverse transmission is a Velvet drive unit coupled to a 1” stainless steel
shaft and three bladed bronze propeller. The engine and transmission were removed for the
structural work to the hull planking.
While out of the boat the engine was reportedly checked, tested and “blessed” by engine
specialists at Peterborough Automotive Machine Shop in Peterborough Ontario. The engine,
however, was not finely detailed for visual appeal while it was out. This is the only small
detraction from the overall aesthetic appeal of this vessel.
The electrical system was fully refurbished. A single wire alternator was reportedly installed
after my last inspection. The electrical system is reportedly fully functional and the wiring
adequately secured, but some of the wiring installation is not very tidy, though probably tidier
than it was originally built.
The exhaust system was re-constructed with marine rated exhaust hose between the engine and
the stainless pipes.
A new flame arrester has been fitted to the carburetor, and the engine space ventilation system
has been modified from original to vent overboard. A satisfactory job has been done on this
important modification.

General Appointments Outline

Propulsion Power Type: V8 naturally aspirated carburetor fueled engine

Fuel: Gasoline

Helm Station: One instrumented helm station forwards.

Controls Steering Type: Mechanical steering box and rod steering system through an original
spade type bronze rudder.

Throttle/Shift Type: Single lever, push pull cable system on the port side of the helm station,
well secured to the hull structure.

Helm Instruments: Tachometer; Amp meter; Oil pressure; Engine temp; Fuel level; Hour meter
The instrument panel is the original Kermath panel with, perhaps some newer gauges.

Navigation Instruments: None noted

Fabrics Fittings and Furniture Visual Condition: Cushioned padded bench seats and seat pads
new or “as new” condition.

Construction Details Hull

Hull Material: Carvel planked hard mahogany over white oak ribs

Under Body: Cedar underbody planking on white oak ribs to the waterline

Ribs: White oak

Under Body Painted: Yes, bronze copper anti-fouling paint

Under Body Visual Appearance: Good, new or as new

Moisture Readings: No moisture meter readings taken due to minimal access. But the vessel
has also been on the blocks out of the water for two years in a covered boathouse. Moisture
meter readings under these conditions would be meaningless or misleading.

Underbody Condition: Generally good requiring some normal maintenance and spot painting

Structural Flooring Elements: Good

Ribs: Good

Stringers: Good

Topsides Planking: The topsides, while generally good have some scuffs and abrasions but no
obvious punctures or deep scratches in the woodwork. This appears to have been normal wear
and tear from the rubbing of the fenders when the vessel was last used.
These areas should be buffed and polished out if possible; Or prepped and re-varnished if the
vessel is to be sold as “pristine”. These are not significant defects for a day to day use vessel but
for best visual appeal, in keeping with the character of this fine vessel, it is my opinion that they
need to be addressed.

Deck Planking: The deck planking is covered with some draped material that has protected it
from dirt and bird droppings. Where seen the deck is still in superb condition finished in high
gloss marine varnish.

Underbody Planking: Good, some planks changed during extensive refit in 2008. Some normal
wear and tear has occurred since the refurbishment. These small areas, notably at the
(complicated) transom to underbody interface joints, should be refreshed for best visual appeal as
they are clearly visible with the vessel out of the water on blocks. See below (transom).

Transom Wood: Good, new wood fitted below the waterline as reported by Montie Masterson.
The transom corners have dried out a bit while the vessel has been in storage over the last two
years. These areas need to be refreshed if you plan to use the vessel or sell it in “pristine”

Fastenings: Reportedly stainless steel fastenings have been used during the extensive
Longitudinal Engine Bearers: Good
Deck Structure and Support: Good

Engine and Propulsion
Type/Style: Ford 302 V8 gasoline inboard engine
Horsepower: Approximately 150-175 hp.
Serial #: Obscured
Hours: To be verified
Fuel Type: Gasoline
Motor Securing Style: Four flexible mounts
Engine Operation: Not tested as part of this inspection. Reportedly operates well.

Propeller and Shafting
Propeller Size/Pitch if Known: 12” X 14” bronze propeller
Number of Blades: Three

Propeller Make: Not recorded Material: Bronze
Style of Blades: Conventional utility propeller style. Prop Condition: Good
Propeller Securing Hardware in Place: Yes
Shaft: Stainless steel, 1” diameter

Shaft Seal Type: Flax packing style. This should be checked and lubricated before the next
Shaft Seal Adapter Hose: Satisfactory in 2008
Seal Hose Double Clamped: Yes

Propeller Shaft Coupling Secured: Yes
Shaft Support Bracket: Freshly secured and bedded, satisfactory

Ignition Protection System
Marine Rated Ignition Protected Devices in Engine Space: Yes
Distributor: Yes
Alternator: Yes
Starter: Yes

Carburetor: Yes
Approved Flame Arrester Secured to Carburetor: Yes, new unit fitted in 2008
Trim Tab Pump Motor: Yes, located in a battery box secured to the wood framing
Other Electric Devices in the Engine Space: Vent fan, ignition protected

Fuel System
Fuel delivery System Style: Single carburetor multi-choke style
Fuel Tank Type: Cylindrical
Tank Material: Galvanized steel tank
Tank Labeled: No
Fuel Tank Location: Aft end next to the transom
Tank Secured: Yes
Tank Securing Style: Steel bands
Anti Siphon Valve at Tank Outlet: No. The fuel outlet is non-compliant by modern standards,

being at the bottom of the tank. This is part of the original vessel design. In order to improve the
original design, ball valves have been added to the fuel outlet. A closing plug has been added to
seal the lower ball valve to eliminate leakage. This noted in 2008.

Bonding Wire: Not seen, reportedly installed after the last inspection
Grounding Path Tested for Continuity: No

Fill Fitting Grounded to Engine Block and Battery Negative: See above
Fill Hose Material Labeled Per USCG A2.B1/B2: The fill pipe is steel.
Fill Fitting Drains Overboard: Yes
Water Ingress: Normal care required to minimize water ingress
Fuel Supply Line Type Flame Retardant USCG Type A1: The main fuel line between the

tank and the engine is seamless copper with compression fittings. A short length of flex hose
between the copper pipe and the engine is reportedly USCG type A1, J1527 or equivalent.
Fuel Supply Line Routing and Securing: Generally satisfactory
Fuel Line Chafe Issues: Normal care required to minimize chafe issues due to vibration
Fuel Distribution Valves: No
Fuel Shutoff Valve: Yes
Vent Line Material Labelled Per USCG Type: The fuel tank is vented through the fill cap
Vent Fitting Flame Stop Screen: No

Tank Connection Condition: Appears to be satisfactory
Notes Fuel System: **The fuel system is not fully compliant due to the fuel outlet at the bottom
of the tank. The system appears to have been assembled correctly as designed.
****The fuel lift pump is not of the double diaphragm style as required by ABYC.

Note: Extreme caution advised when using gasoline with the new E10 Ethanol alcohol additive
formulation. This fuel should not be mixed with standard gasoline containing MTBE. E10 fuel is
known to dissolve fiberglass and plastic fuel tanks, and certain types of plastic fuel lines and
plastic parts. E10 fuel storage life is also very short, typically 30-60 days before the alcohol and
gasoline separate. The Ethanol content is a corrosive substance and will attack aluminum fuel
tanks and metal parts in the fuel system. It is advisable to carry extra fuel filters and tools on
board the vessel when using this fuel, and to be extremely vigilant for fuel tank and fuel system
leakage. See http://www.uscgboating.org and Boating Safety Circular #85 for details.

Exhaust System
Exhaust Hoses Labelled Marine Exhaust Hose: Yes
Obvious Evidence of Heating or Leakage: No

Exhaust Hoses Double Clamped: Yes
Exhaust Hoses Visual Condition: Good

Engine Space Ventilation
Vent Fan Make and Type: Attwood axial type
Vent Fan Size: 3”
Voltage: 12 VDC
Vent Fan Operative: Yes, vented through the transom to the outside of the vessel. This is an

improvement over the original design that vented to the cockpit space.
Vent Fan Secured: Yes
Vent System Hoses Properly Secured: Reasonably well secured Hose Condition: New
Suction Hose Drawing From Lowest Point in the Bilge Space: ****The engine space vent

suction hose does not draw from the lowest part of the bilge space under the engine.
Suction End of Bilge Space Vent Secured to Solid Structure: Not verified
Engine Space Venting Warning Label at Helm: No. ****Recommend a warning label be

installed at the helm console ref engine space venting for four minutes prior to engine starting.
Engine Space Venting Deficiencies: Satisfactory

Through Hulls

One engine cooling raw water inlet is located on the starboard side of the engine in the engine
compartment, installation appears to be satisfactory. A ball valve is fitted.

DC Electrical System
Battery Location: Starboard of the engine space
Battery Size: One 27 series 12 VDC battery noted in an acid proof box with ventilated lid
Battery Shut Off Switch over 800 CCA: Not required for this installation

Battery Secured in an Acid Proof Box With Ventilated Lid: Yes
Battery Hot Terminals Shielded: Yes
Battery Load Wire Sizes: Appear satisfactory
Maximum of Four Terminals to One Connection Point: Yes
Wiring Routing and Securing: Satisfactory where viewed, system incomplete at last

Wiring Chafe Issues: Normal care required to minimize chafe issues
Switches, Breakers and Circuit Protection: Fuse panel viewed in the engine space. Two trip-

free DC breakers located near the electrical panel in the engine space
Switches/Breakers Labelled: No
Visual Condition of Wiring and Connections Where Accessible: Generally satisfactory but

somewhat untidy in places.

Fire Safety and Fire Suppression Devices

Fire Extinguisher Size: One 2 ½ lb dry powder extinguisher noted

All Hand Held Fire Extinguishers Secured in Appropriate Quick Release Brackets: Yes

Engine Space Self-Deploying Fire Suppression System: No

Bilge Pumping Arrangements

Electric Bilge Pump/s Make: One Voltage: 12 vdc
Fuse Size and Location: Main fuse panel
Pump Location: In the lower bilge space
Overboard Discharge Pipe: Starboard topside forward
Anti-siphon Valve: Not seen
Anti Siphon Loop: Not seen
Check Valve: Not seen

Manual Bilge Pump: Not seen

Bailer: Not seen

Anchoring and Docking Equipment

#1 Anchor Type: Not seen

Note: A second, ready-rigged second anchor is recommended for all vessels.

Dock Lines and Painters: Four

Fenders: Six inflatable fenders noted in good, used condition

Deck Fittings: Original deck fittings and finishing pieces have been re-chromed. The

appearance of these parts is new or as new.

Ground Tackle Notes: The requirements of the boating handbook safety equipment list are the
responsibility of the owner when cruising.
Note: Ground tackle and anchors etc are nor required to be on board when the vessel is in

Safety Equipment

Navigation Lights Tested: No, Reportedly functional

Horn or Noise Making Device Horn etc: Reportedly functional

Charts: None seen

Compass Make/Size: Not seen. A compass is required equipment when cruising.

Depth Sounder/Fish Finder: None seen

VHF Radio Make: None noted

Throwing Line 15 Meters and Float: Not seen

One Suitably Sized PFD Per Crew Member and Guests: Not seen

Paddles Where Appropriate: Not seen

Pyrotechnic Devices/Flares: None seen

Notes: Note TCMS requirements to carry appropriate pyrotechnic devices when cruising.

Note safe procedures for disposal of outdated flares and pyrotechnic devices.

Bulwarks : Bulwarks are of satisfactory height for normal use. Caution always recommended

when children are on board, especially at the aft end seat area.

Re-boarding Means, Ladder, Net etc: ****There is no re-boarding ladder or re-boarding
device noted.
Engine Space Fume Detector: No
Boating Safety Handbook on Board: Not seen
Spare Fuel Filters: Not seen
Boat Manufacturer’s Operation Manual: Not seen
Engine Operation and Maintenance Manual: Not seen
Appropriate Hand Tools for Normal Maintenance Noted on Board: Not seen
Note Safety Equipment: Safety equipment is not required to be on board when the vessel is in


Findings and Recommendations

****Safety or major maintenance item.
***Maintenance or important FYI item.
**Minor maintenance or FYI item.

****The engine space vent suction hose does not draw from the lowest part of the bilge space
under the engine as required by ABYC.

****The fuel lift pump is not of the double diaphragm style as required by ABYC.

****Recommend a warning label be installed at the helm console ref engine space venting for
four minutes prior to engine starting as recommended by ABYC

****There is no re-boarding ladder or re-boarding device as recommended by ABYC

Note: Several findings identified in earlier inspections were addressed at various stages in the
survey. The electrical work was done by a sub contractor assigned by Montie Masterson.

Owner/Purchaser’s Declarations
Declared Intended Use: Recreational use only

Owners Declared Intended Cruising Area: Pigeon Lake, Trent Severn Waterway system

Owners Declared Experience: This vessel has been owned by Mr. Borsook’s family since new.

Surveyor’s Observations Ref Maintenance and Upkeep: The refurbishment of this vessel has
been completed to a high end and very professional level of quality. The only detractions being
the un-detailed engine and somewhat untidy electrical wiring.

Surveyor’s Opinion of the Vessel’s Suitability for Service: Satisfactory

Surveyors Opinion of Condition: Since the extensive refit and refurbishment in 2008 the vessel
has been used very little. The vessel is reportedly, currently, in a winterized but fully functional
state in dry storage out of the water in its covered boathouse.
During the limited use since the refit some cosmetic wear and tear has occurred.
The general condition is still very good with minor blemishes to the topsides and transom
corners which are the only obvious visual impairments to an otherwise stunning boat.

Estimated Owner’s Capital Expenditure Value included in the recent major refit in the
Region of: $72,500.00 (invoices for the refurbishment work were provided)
The capital value might have depreciated by approximately C$3000.00 – C$5000.00 over the last
three years.(estimated depreciation rates)
Capital Valuation Note: The recent refurbishment of this beautiful classic mahogany runabout
launch has reportedly (confirmed by Mr. Borsook and Mr. Montie Masterson in late 2008) cost
in excess of $60,000.00 Canadian dollars. The (before restoration) value of an un-restored vessel
of this make and model and appointments might have been approximately C$12,500.00.
Attendant costs of moving the vessel to Montie’s shop and back to the water side at Buckhorn
Yacht Harbour has not been considered in this calculation.

Estimated Market Value: The estimated market value of this vessel based on comparables in
my recent research is in the region of C$25,000.00 – C$30,000.00, Plus transfers fees and taxes.
Market Value Note: Various wooden vessels in various levels of finish and various
refurbishment quality were noted in my recent research. Prices between 14,000 and 49,000 were
noted. The estimated value of this vessel “The Doc” sits somewhere in the middle of this range.
This is an estimate, there is no way of knowing if the other boats are close comparables in
Market valuation on a vessel that is not for sale is somewhat (completely) subjective. I have
attempted to research recent for sale and sold comparable, sold and for sale and/or fully
refurbished vessels.

Rough Estimated New Replacement Value: A very approximate new Canadian made
replacement value for a vessel of this size and level of finish quality might be in the region of
C$120,000.00 –C$140,000.00 including new (EPA approved) engine and propulsion.

(Recent Reference Material sources AntiqueBoatsCanada.com and AntiqueBoatsAmerica

Refer to Canadian Coast Guard “Boating Safety Handbook” for current list of mandatory
safety equipment to be carried on board while cruising.

A pro-active approach towards normal upkeep and maintenance items will help to
maintain a vessel’s safety, reliability and value.

This report is prepared in good faith and without prejudice for the exclusive use of Dr. John
Freedman as family representative.

David H Wells AMS Y/SC.E #351/95
Accredited Marine Surveyor
Yacht and Small Craft
Engines and Machinery
Society of Accredited Marine Surveyors
International Association of Marine Investigators (IAMI)
Member American Boat and Yacht Council
Member Canadian Power and Sail Squadron.

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