FAQ's
What leads to a final determination of the value of an aircraft?
- An aircraft's damage history
- Engine and airframe modifications (if any)
- Make and model of all avionics -- (this may be substantial)
- Overall condition of the airframe
- Inspection status of the aircraft
- Engine overhaul status (this includes propellers)
- Condition of de-ice or anti-ice equipment on the aircraft
- Overall condition of the paint and interior
- Completeness of the log books and all documentation relating to the aircraft
What Appraisal methods are there?
There are many different methods of Aircraft Appraisal.
- There are the ballpark values or range of values. These generally are based on the type of aircraft and are non-specific as to the equipment on board and maintenance items. They generally refer to mid-range factors to come up with a value.
- There are the values based on asking prices. There are generally higher than the actual values.
- There are appraisals based on Blue Book values. Again, these are values of an aircraft without inspection, visual inspection of the log books, etc. and are ball park in nature, but based on averages of periodic member questioners.
- There is the National Aircraft Appraisers Association appraisal. This is a very specific appraisal in all aspects of the aircraft including all log books or lack there of, specific avionics and their individual listing and value, visual condition of the aircraft interior and exterior, and a detailed report including maintenance items and damage history.
All of this is then computer organized and a value and Certificate of Appraisal is issued based on actual sales price histories of comparable aircraft.
Which would you rather have to get financing or insurance?
How detailed is an N.A.A.A. report?
They are very detailed and usually end up around 9 pages worth of information and value certification for your records. This may be longer based on the history of the aircraft, and the length of either good or bad comments.
If you are buying you want to know the good and the bad. If you are selling you want to know the good for sales points and the bad in order to have these items repaired to show your aircraft at its best advantage.
Need more? Call us at (866)308-7998 or (619)224-2434