Loan value

Contest excessive tax assessments including capital gains tax

Valuation for insurance coverage

Probate

In case of damage

Purchase or sale

Divorce

Repossession

Valuation for charitable donations

Valuation for import or export

Establishing a value for an airplane is far more complex than for an automobile. For a car, you just look it up in a "blue book" (or a black book, or a yellow book), and you have retail and loan value in a few moments. This works because there are millions and millions of automobiles, and each example of make, year and model is pretty much identical to every other one of that make, year and model.

There are fewer than 300,000 airplanes in the entire United States, and the average general aviation airplane is 35 years old. There can be a huge difference in value between airplanes of the same make, year and model. In addition, airplanes are often modified, and these modifications can sometimes greatly increase the value of a particular aircraft. Proper maintenance and proper records are absolutely vital. Missing or incomplete logbooks can greatly decrease the value of an airplane, sometimes to the point where the most cost-effective course of action is to part out or even scrap a perfectly flyable airplane!

Aircraft components sometimes have finite lifetimes, and an airplane with 6,000 hours flight time may very well be on its third or fourth engine overhaul. Some components are "life-rated", which means when they have accumulated "X" hours, they are scrapped, no matter how good they look or how well they work. Engine times are a major component of the value of a given aircraft, as are the communications and navigation equipment ("avionics"). Some avionics equipment may no longer be legal for use, and even though it looks good and works perfectly, it is of no value and will need to be removed and replaced.

Even the condition of the paint is important. Remember "Any car, any color, just $29.95"? For an airplane, that number is $5,000 to $7,000 for the smallest two seaters, and that is for one color only. Paint on an airplane is far more than a matter of appearance. It is a safety item. The paint keeps the aluminum from corroding, and significant airframe corrosion is the shortest route to the salvage yard for an airplane.

Some of the items covered in an aircraft appraisal include:

Airframe total time, engine time since overhaul, engine condition at last annual inspection, propeller time since overhaul, review of logbooks for damage history, AD note compliance (repairs and modfications required by the FAA, or the airplane is not legal to fly), gaps in the logbooks, installed equipment checked for age, operation and legality, appearance and condition of external paint, appearance and condition of interior upholstery, carpet and headliner, appearance and conditon of windows, tire life remaining, modifications to the airplane, time remaining on life rated components, general inspection for cracks, damage and corrosion, and more.

The airplane is NOT started or flown, and no inspection panels or cowlings are removed. If the airplane is in a hangar, it may need to be moved outside for the inspection and photographs, but this must be done by the owner, the owner's representative, or the FBO where the aircraft is based (but I will help push).

NOTE CAREFULLY: This is ABSOLUTELY NOT an FAA or safety inspection of any kind, it is not represented as such, it does not substitute for one, and MUST NOT be regarded or relied upon as one. It is a FINANCIAL EVALUATION ONLY, it DOES NOT warrant whether or not the aircraft is currently safe or currently legal to fly.

The completed appraisal is delivered in three to five working days, and consists of six to ten pages of specifications, photographs, equipment lists, an explanation of how the final value was determined, and of course, the appraiser's opinion of the resulting fair market value.

Service Area:

Primarily North Central Florida, about a 100 mile radius centering on Daytona Beach, generally south to Melbourne, southwest to Orlando/Kissimmee, west to Ocala and Gainesville, north to Fernandina Beach. There is no charge for travel to New Smyrna Beach, Spruce Creek, Daytona Beach, Ormond Beach, DeLand, Bob Lee, Pierson or Flagler airports, for other locations, there will be a charge of 50 cents per mile. (Part or all of this charge may be waived depending on circumstances.) Appraisal requests and consulting in the Bahamas and Caribbean available by special arrangement.

Note that we are on an airfield (2FD6), so if you don't mind flying in to a somewhat bumpy grass strip, we can do the appraisal here and there are no travel costs. There is a very good and quite reasonable luncheonette near the airstrip, so if you want to fly in and have lunch, we can do that. Call first as sometimes the strip needs to be mowed!

Prices:

Single engine, fixed pitch propeller, non-retractable landing gear, two or four seats (Cessna 150, 172, Piper Cherokee, etc., also includes some Experimental category aircraft.) $250 to $350.

Single engine, constant speed (variable pitch) propeller, retractable landing gear (Cessna 182RG, 210, Piper Arrow, Mooney, Beechcraft Bonanza, etc.), $350 to $500.

Twin engine (piston), six seats or fewer, Cessna 310, Piper Seminole, Beech Dutchess, etc.) $500 to $650.

(I don't do larger airplanes such as turboprops and jets simply because I don't have enough experience and background in them, and I'd rather decline the appraisal than let someone pay for a baseless valuation.)

Consulting services:

Per hour, $100, minimum three hours.

Per day, $450; a day is eight hours (can be split).

Per week, $2,000; a week is 40 hours (can be split).

(Plus travel, if required.)