When considering an aircraft for purchase, the easy thing to do is just avoid those with any damage history. This is an easy choice to make but would you really reject a perfectly good aircraft that had everything you were looking for – and more, which had a wingtip repaired? What about one with a …
Recently, I was on the Lease A Sales Rep podcast, where I talked about Plane Data and what to do if you would like to own your own small plane or purchase one for your company. We explored other questions such as: -What does a small plane cost? -What is the process to get a …
How much does a small plane cost? [Video interview] Read More »
Before getting too far into this topic, credit needs to be given to Tim Andersen of The Appraiser’s Advocate who released a podcast on this topic albeit more directed at real property appraisals versus aircraft appraisals. In the past, Tm has instructed aircraft appraisers on proper use of USPAP (Uniform Standards of Professional Appraisal Practice) …
The impacts of the COVID-19 virus are going to be felt for some time – and this includes aircraft owners too. Some owners who are in financial distress and who have liens on their aircraft will not reach out to their banks and bankers to discuss options that are available to them if they are …
3 Steps to Take Now to Reduce the Risk of Aircraft Repossessions Read More »
The aircraft appraisal industry is largely unregulated, which creates some very serious issues when it comes time to appraise an aircraft. Technically, anybody with a pulse, a pen, and a piece of paper can appraise an aircraft – even without ever seeing the aircraft or reading any of craft’s logs or maintenance history. These appraisals …
What are the PAAO Best Practices and Why are They Important? Read More »
The National Aircraft Appraisers Association (NAAA) ceased operation on 12/31/18. The Professional Aircraft Appraisal Organization, LLC (PAAO) was established in December 2018 to provide certification, aircraft appraisal best practices, and professional development for aircraft appraisers. More information about the PAAO be found on their website at www.appraiseaplane.org
A version of this article was written by Mike Simmons, President of Plane Data, Inc. and originally published in the January 2016 edition of The Aviation Consumer. Since that time, the NAAA ceased operations in late 2018. A new aircraft appraisal began operations in January 2019 – The Professional Aircraft Appraisal Organization (PAAO). More details about …
If evaluating any aircraft was simply a matter of utilizing key numerical data about the subject aircraft, then arriving at a final value would involve little more than grinding through a formula. However, the average age of the General Aviation fleet is about 35 – 40 years old and there are many other variables to …
Are Damage History and Missing Log Books Serious Concerns when Appraising an Aircraft? Read More »
This article was written by Mike Simmons, President of Plane Data, Inc. and originally published in the February 2002 edition of The Avaition Consumer. One of the most heated debates in ownership circles— involving both veteran owners and wannabes—is how to determine a fair market value for a used airplane. Evaluating an airplane to set a …
How to Set a Fair Buying or Selling Price for your Aircraft? Read More »
Many of us have had the misfortune of dealing with a damaged automobile and experiencing first hand the way automobile policies handle physical damage. Auto policies are generally written on an Actual Cash Value basis, which means the payment made in the event of a total loss is adjusted for depreciation. When a total loss …
