Frequently Asked Questions
How PAAO Uses AI Tools in Aircraft Appraisal Reporting
In our last post, we explored how AI tools have the potential to transform the aircraft appraisal industry. Today, we’ll focus specifically on how the Professional Aircraft Appraisal Organization (PAAO) incorporates these tools into its appraisal process—and why this matters.
Why AI Tools are Essential for Accurate Aircraft Appraisals
AI in aircraft appraising offers more accurate evaluations by analyzing vast data and overcoming outdated methods that rely on flawed, anecdotal information. The PAAO’s AI-driven approach ensures precise and reliable aircraft valuations.
Assessing Aircraft Damage History: FAA vs. PAAO Ratings
When evaluating the impact of previous damage events on an aircraft’s value, understanding where to start and how to base your assessment is crucial. As a seasoned Senior Certified Aircraft Appraiser with over 30 years of experience, I’ve encountered a range of approaches in the
Damage History – A Closer Look
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,
Should an Aircraft Appraisal be Accurate?
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
3 Steps to Take Now to Reduce the Risk of Aircraft Repossessions
3 Steps to Take Now to Reduce the Risk of Aircraft Repossession 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
What are the PAAO Best Practices and Why are They Important?
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
Aircraft Appraisals 101 (Updated January 2020)
Aircraft Appraisal 101 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
Are Damage History and Missing Log Books Serious Concerns when Appraising an Aircraft?
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 –
How to Determine a Fair Price for Your Aircraft?
This article was written by Mike Simmons, President of Plane Data, Inc. and originally published in the February 2002 edition of The Aviation Consumer. Setting the right price for a used aircraft can be complex and often debated among enthusiasts. Whether you’re selling, buying, or evaluating
