Service Afloat, Inc. v. United States

Maletz, Judge:

This appeal for reappraisement involves a pleasure boat invoiced as a “Grand Banks 42 No. 2 Twin Screw Cruiser” *520(hereafter referred to as the “Grand Banks 42”) that was built in Hong Kong by American Marine Ltd. and imported in 1965 by the plaintiff-purchaser, Service Afloat, Inc. of Newport Beach, California.1 The parties agree that the correct basis of appraisement is export value, as defined in section 402(b) of the Tariff Act of 1930, as amended by the Customs Simplification Act of 1956 (19 U.S.C. § 1401a(b)).2

The boat was invoiced and entered at $24,680, including $2,400…