Avoid costly mistakes with Plane Data, Inc.'s Reliable Appraisal Reports
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Reports issued by Plane Data, Inc. have been successfully used in hundreds of aircraft financing transactions and multiple court cases since 1992.
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Frequently Asked Questions
Exceptional situations aside, every signed aircraft appraisal report means that a trained, experienced aviation professional went into the field to physically look at the aircraft, inventoried the equipment and records plus reviewed all log books to validate the basic information needed to form a reliable opinion of value – and this is clearly stated in the report itself along with the Scope of Work. Information obtained from the field visit may or may not agree with the sales data sheet or whatever a 3 rd party provides but this is why the field visit is critical to the final opinion of value.
Desktop reporting involves no field visits of course and uses unverified/unvalidated data from 3 rd parties who, in many cases, have a vested interest in the final opinion of value. The desktop appraisal is certainly cheaper! In person appraisals such as those provided by Plane Data, Inc. are only suitable for companies and individuals who want factual information that is credible and reliable.
If the objective is to obtain a credible, reliable opinion of value based on field research and factual data, then you want to hire an appraiser before negotiating the price or seeking financing. Hiring the appraiser later in the process could be costly due to their findings from the field research revealing information that may have impacted your initial purchase decision or terms of the Purchase Agreement. Many clients use the appraisal report to negotiate a better and more realistic price and terms.
There is no simple answer to this question because it depends on the extent of the issue. For example, a damaged wingtip that is replaced with a factory-original unit would have minimal diminution of value – if any. On the other hand, an event that was not properly repaired or documented would have more impact to the diminution of value. The extent and amount of the impact to the aircraft’s value would depend on the level of damage and the present condition of the airframe.
Log books fall into that same type of analysis. An entry regarding the recent painting that was misplaced may be somewhat concerning but fixable due to the paint shop’s records thereby having minimal impact to the aircraft’s overall value. On the other hand, a missing log book covering a third of the aircraft’s life presents a very different situation for the appraiser – which is why field visits are so important.
Statements such as “all log books are original and complete” means very little if a professional never validates that fact. The same is true of “no damage history”. Those terms have subjective meanings when dealing with owners/brokers/dealers as there is a vested interest in representing the aircraft a certain way.