How to Find a Trustworthy Appraiser for Your Aircraft
Selling your aircraft can sound like a daunting task, but one of the first things you need to cross off your list is finding an aircraft appraiser. There are several factors that you should consider when looking for n appraiser. The first of which is whether or not the appraiser is an “airplane person”. They should really understand aircraft not only on a cosmetic level, but also commercially and mechanically. If they’re not regularly in the aircraft market they may not understand the value differences between seating configurations, installed avionics, additional equipment and other key elements of determining an aircraft’s worth.
Logbooks are extremely important when it comes to the sale of a used aircraft – so your appraiser should be experience with logbook research. They should be able to both understand what is written in the logbooks and be able to notice any red flags that they contain like overdue maintenance, other damage history or anything else that could affect the value of your aircraft.
You should always find an appraiser that keeps current with the The Uniform Standards of Professional Appraisal Practice, this is published and maintained by the Appraisal Standards Board (ASB) of the Appraisal Foundation, a non-governmental entity charged by Congress with promulgating appraisal standards.
Finally, your aircraft appraiser should be able to understand the repercussions of damage history. Damage history is typically very subjective – there isn’t a lot of science involved in determining the proper amount of damage diminution in value. It takes knowledge and experience to be able to analyze the effects that damage may have on the value of an aircraft.
Selling your aircraft can feel daunting enough without having to deal with sketchy appraisers. It’s important to ask your appraiser questions and have them walk you through the process so that there aren’t any surprises or disagreements. At Norfolk Aviation, we’re your one stop shop for every step of the used aircraft sales process. We offer hassle free, USPAP approved appraisals, expert marketing campaigns to get your plane seen, and closing negotiations! Contact us today for a FREE consultation and get your aircraft sold for the highest dollar in the shortest amount of time possible!