Q.
What’s the difference between an
aircraft’s value calculated using the NAAA’s Aircraft Valuation computer
software and an aircraft value determined by using one of the aircraft price
guides.
A. The differences are enormous and to answer this question would
take many pages. Briefly let us use this analogy. Aircraft price guides are
published, marketed, and distributed by book publishing companies. The facts
are, they do not appraise aircraft, they do not even gather or generate
their own data. Rather, they simply send out a questionnaire every 3 months
to subscribers of their books and ask a few questions which at best are very
vague. From these questionnaires the book publishers generate their data
base.
An interesting point to consider is this. Nowhere on these
questionnaires do the price guide book publishers request information regarding:
2. The aircraft’s damage history.
3. Engine or airframe modifications, if any.
4. Make and model of installed avionics and if there were any avionic
upgrades.
5. Physical condition of the airframe including surface corrosion
etc.
6. Inspection status of the aircraft. For example, the aircraft may
have been out of Annual for some period of time or/and there may be
Airworthiness Directives and/or mandatory Service Bulletins which have not been
complied with.
7. Props and time since overhaul.
8. Engine overhaul status. For example, was the engine field
overhauled to FAA overhaul service limits or overhauled to factory new limits or
a new engine.
9. Condition of de-ice equipment, instrumentation and other systems
and components.
It is truly a mystery how one could generate an accurate database of
aircraft values without a clue regarding the condition of the airframe, make and
model of avionics, damage history, airframe or engine modifications and all of
the other important value points listed above.
The National Aircraft Appraisers Association is the only organization
in the world which considers all of these factors in its database. Additionally,
all of the information the National Aircraft Appraisers Association uses is
verified by its 350 Certified Aircraft Appraisers members who have physically
evaluated the aircraft, and each Association member subscribes to the same
evaluation criteria while performing the appraisal. The end result is an
extremely accurate database that is verifiable.