Professional Appraisals Give You The Upper Hand
Be a more effective negotiator with a Plane Data, Inc. Aircraft Appraisal
Why use Plane Data, Inc. for your next aircraft purchase?
Glad you asked. Here are 6 good reasons.
Avoid Costly Mistakes
Finding out about damage history after taking possession of your aircraft can be both costly and embarrassing. It usually means that you overpaid for the aircraft up front and you will most likely overpay on taxes and insurance going forward. Knowing the details about your purchase BEFORE signing the Purchase Agreement may have put you on a different path or forced you to choose a different aircraft. Regardless, knowing what you are buying can save you both in upfront costs and over time.
Properly Filed/Recorded Paperwork
Handshake deals are a thing of the past. If it is your money at risk, you need to ensure there are no liens or clouds on the aircraft title. It is important to know which title company is going to perform the proper research and stand behind their work both when searching the title records AND filing/recording with the FAA (and in some cases with the IR). Make sure you are going to be the new owner of the aircraft before funds are transferred out of your account.
Reliable Opinion of Value
An expert opinion of value begins with an in-person appraisal and takes into consideration recent sales data, log book information, maintenance records, and damage history.
Time Saved
If time is money (and it is!), then don’t spend your time looking at over-priced or mis-represented aircraft.
Effective Negotiating Power
Knowledge is power and when negotiating, it is important to know when you are beginning to negotiate a premium price. With one of our Professional Appraisal Reports in hand, you will have important details and numbers at your fingertips.
Expert Advice in Your Corner
Our fees are based on the type of aircraft under consideration versus a commission based compensation. As a result, you can trust the advice being provided because it is not influenced by a paycheck.
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Frequently Asked Questions
Exceptional situations aside, every signed aircraft appraisal report means that a trained, experienced aviation professional went into the field to physically look at the aircraft, inventoried the equipment and records plus reviewed all log books to validate the basic information needed to form a reliable opinion of value – and this is clearly stated in the report itself along with the Scope of Work. Information obtained from the field visit may or may not agree with the sales data sheet or whatever a 3 rd party provides but this is why the field visit is critical to the final opinion of value.
Desktop reporting involves no field visits of course and uses unverified/unvalidated data from 3 rd parties who, in many cases, have a vested interest in the final opinion of value. The desktop appraisal is certainly cheaper! In person appraisals such as those provided by Plane Data, Inc. are only suitable for companies and individuals who want factual information that is credible and reliable.
If the objective is to obtain a credible, reliable opinion of value based on field research and factual data, then you want to hire an appraiser before negotiating the price or seeking financing. Hiring the appraiser later in the process could be costly due to their findings from the field research revealing information that may have impacted your initial purchase decision or terms of the Purchase Agreement. Many clients use the appraisal report to negotiate a better and more realistic price and terms.
Read More – What Should I know before hiring an aircraft appraiser?
There is no simple answer to this question because it depends on the extent of the issue. For example, a damaged wingtip that is replaced with a factory-original unit would have minimal diminution of value – if any. On the other hand, an event that was not properly repaired or documented would have more impact to the diminution of value. The extent and amount of the impact to the aircraft’s value would depend on the level of damage and the present condition of the airframe.
Log books fall into that same type of analysis. An entry regarding the recent painting that was misplaced may be somewhat concerning but fixable due to the paint shop’s records thereby having minimal impact to the aircraft’s overall value. On the other hand, a missing log book covering a third of the aircraft’s life presents a very different situation for the appraiser – which is why field visits are so important.
Statements such as “all log books are original and complete” means very little if a professional never validates that fact. The same is true of “no damage history”. Those terms have subjective meanings when dealing with owners/brokers/dealers as there is a vested interest in representing the aircraft a certain way.
