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Home > Airplane Appraisals The SkyMachines SkyValue appraisal: The only way for certain to know an airplane's value
Sellers: For a $99 analysis of your aircraft's value in today's marketplace, Click here. As a seller, buyer, lender, or attorney, if you want to get an idea of an aircraft's value in today's marketplace, you have several options: You can check advertisements for similar aircraft; you can ask a broker-dealer for their opinion (and then they'll try to steer you towards one of their aircraft); or you can check an online service. But the fact is, none of these options will give you an accurate picture of a specific airplane's value: You must correct any general price estimate for the details of the specific aircraft, and you can only do that by first physically inspecting the aircraft's condition and its logbooks. To determine aircraft values, SkyMachines's customers have two options:
Unlike "appraisals" performed by dealers, mechanics, and other pilots, an NAAA appraisal involves much more than simply checking a price guide. The NAAA-member appraiser will:
To determine the values of aircraft, NAAA does not use price guides like the Aircraft Bluebook Price Digest or the Vref Aircraft Value Reference. NAAA takes a better approach to obtaining aircraft value data. Every month (not every quarter), NAAA surveys its 5,000 client banks for the latest data on aircraft which they have actually financed. The data they report includes sales by both dealers and private individuals and is incredibly detailed. This information is then put into an extensive computer database and sent to all 250 NAAA member appraisers. (Old data is never used because it expires and is automatically purged from the appraisers' computers.) Who uses appraisals? Lending Institutions: As they do with houses, most leading banks now insist on seeing a certified appraisal before they'll loan on an airplane. They understand that, if any property is to serve as collateral for a loan, that property must actually be what the buyer and seller say it is. The appraisal:
That's why over 5,000 lending institutions are already under contract to request appraisals from NAAA members, with more coming on board all the time. (In fact, over 60% of NAAA appraisals are performed for clients in the banking industry.) Aircraft Insurers: Most aircraft insurance companies perform aircraft valuations using one of the printed quarterly price guides. As we've already seen, these guides don't provide detailed or accurate information about the specifics of a particular airplane. Many aircraft have been highly modified by their owners with the addition of sophisticated avionics and modifications. These modifications can dramatically increase the value of an airplane far above what would be shown in a book-based price evaluation. This leads to an aircraft owner being significantly under-insured. Therefore, many owners will obtain, or insurance companies will request, an NAAA appraisal in order to support a higher hull value. Only an NAAA appraisal will show the current fair market value of an airplane. Aircraft Sellers: More and more aircraft owners are seeking an appraisal before they sell their planes, for a variety of reasons:
Aircraft Buyers: You wouldn't buy a house without getting it appraised first, so why would you buy an airplane, which might cost as much as more than a house, without taking the same precaution? Airplanes are significantly more complicated than houses, yet most pilots buy an airplane the same way they do a used car…with a “bluebook” style price check and the simplest of pre-purchase inspections by a local mechanic. The fact is, few pilots or mechanics have the expertise at valuing an aircraft that an appraiser does. To the Buyer, an appraisal:
Government Agencies: NAAA-certified appraisals are accepted by all U.S. government agencies, including the Internal Revenue Service, Customs Service, Coast Guard, and DEA: When they want to know what an aircraft is worth, they hire an NAAA apprsaiser. (SkyMachines recently appraised a helicopter for the Customs Service and they were very happy with the result!) Attorneys and Accountants: In the event of disputes arising from divorce, death, or business, an appraisal can provide the certified third-party opinion necessary to settle the dispute fairly and equitably. Only NAAA-certified appraisals are accepted by all state and federal courts in the U.S.! (Attorneys, please note: "Expert Witness" testimony and support is available from SkyMachines for cases where aircraft value is an issue.) A SkyMachines appraisal
picks up where an NAAA appraisal leaves off...
click here
for details. |
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