Things to Keep In Mind When Dealing with Aircraft Appraisal
An established company of airline does not need aircraft appraisal, because they know all about aircraft market all over the world. Owning a private business jet will be difficult because you cannot easily advertise your aircraft because there is no group for such. This simply means that, when estimating the value of your jet, you should do it by yourself. Data analysis of your aircraft will be the factor of your appraisal fee. The following are important points to remember about aircraft appraisal at https://www.vref.com.
Fees will vary depending on the size of the aircraft and the length of time involved in completing analyses of all relevant data
Not all appraisals are fair, so the first you need to keep in mind is that you should know what is the objective of the appraisal made. This simply means that you are helping the owner find a way to market his/her aircraft. You should conceptualize well the intent of your report because this can be very important to your appraisers.
Two, in able to create the best aircraft appraisal, you should first understand your appraiser, be careful when hiring a person to work with you appraisal. Because aircraft appraisal industry is not regulated well, everyone can put a value for you aircraft since there are no standards or training about this. Organizations like National Aircraft Appraisers Association (NAAA) and American Society of Appraisers are legit, these organizations give there members training and professional development. Remember in choosing an appraiser, the person must have enough experience and knowledgeable about the aircraft and field visit should be a part. Also, make sure also that the market database that is use for analysis will not be confusing. The Appraiser Organizations has created their own database that mainly consist of the aircraft details even the damage history and it's condition, on the other hand publications that mostly consulted by many people is purely in selling subscriptions. Be sure to watch this video at https://www.youtube.com/watch?v=ciiEHdEU83M for more details about airplane.
Be sure that your prospect buyer will focus also on the physical inspection of the aircraft and not only on the price value being presented.
Fourth, remember to avoid subjective feelings, remain as objective as possible regarding your aircraft because this can be a big factor for your quality appraisal at vref.com.
Fifth, keep in mind that not all people have the same taste, and people tend to decide base on their comfort and style, highly customized aircraft interiors base on taste sometimes won't help in appraising your jet, standard designs are more appealing.
Remember that a narrative report of your aircraft's current state and history documentation is all that matters because this will be the basis of your aircraft's value.
