Factory-Built Piston Aircraft Appraisals
Factory-built single and multi-engine piston aircraft comprise the largest percentage of the U.S. registered fleet. But regardless of the aircraft type, Transwest Aero Services conducts and intensive review of the aircraft and the maintenance records. We begin the process by purchasing an up-to-date copy of the of the maintenance and registration records on file with the FAA including major repairs, alterations, and Supplemental Type Certificates (STC’s) applicable to the aircraft being appraised. We look to match what we find in the records with our physical examination of the logbooks and the aircraft itself. Any discrepancies are noted along with their effect on the aircraft’s value.
Turboprop and Jet Aircraft Appraisals
Turbine powered aircraft require an extra measure of time and attention because these aircraft are often on a progressive maintenance program and can have a large number of time-limited components, particularly if they are operated under FAR part 135 or 121. Maintenance records are often computerized but we sometimes find many large boxes of disorganized records containing thirty years of maintenance records that the appraiser must review in order to get a thorough and accurate picture of the aircraft’s maintenance status.
Turbine powered aircraft are often enrolled in guaranteed engine maintenance programs such as “ESP”, “MSP”, “JSSI Complete”, or “Power-by-the- Hour”. These can have a significant effect on the value of the aircraft. You can count on Transwest Aero Services to get the valuation right.
Antique, Experimental and Homebuilt Aircraft Appraisals
Aircraft that have been rebuilt, remanufactured, restored or modified to superior condition require a thorough and complete evaluation and sometimes the value of these aircraft is “whatever it takes to pry it from the hands of the existing owner”. The Aircraft Bluebook-Price Digest refers to these aircraft as Prime Condition Aircraft. The NAAA is currently working on a methodology for the evaluation of these aircraft and they require considerably more research to get the value right. Transwest Aero Services can value these aircraft for you.
Appraisals for Rebuilt, Remanufactured and Restored Aircraft (Show Planes)
Aircraft that have been rebuilt, remanufactured, restored or modified to superior condition require a thorough and complete evaluation and sometimes the aircraft is worth whatever it takes to pry it from the hands of the existing owner. The Aircraft Bluebook-Price Digest refers to these aircraft as Prime Condition AircraftTM. The NAAA is currently working on a methodology for evaluations of these aircraft but for now these aircraft require an Off-Database Appraisal. Contact Transwest Aero Services for help with these aircraft.
Appraisals for Avionics Upgrades
Perhaps at no other time in history has there been such a rapid advancement of aircraft avionics. An aircraft owner has a wide range of choices available to them. And while the capabilities of these new components, from moving map navigation to synthetic vision to digital flight director systems is impressive, their purchase price can be breathtaking. Transwest Aero Services can calculate the new value of an aircraft using the prospective avionics package that is being considered. This service is particularly valuable for anyone who is considering the addition of new systems in their aircraft. Lenders will often loan money for upgrades based upon the projected value of the aircraft and insurance companies will often require a certified appraisal to document the increased value.
Sales Trend Analysis
Many people find it surprising that aircraft can appreciate in value. Experienced owner/operators commonly track the appreciation of their aircraft over time, adjusting their insurance coverage or gauging when might be right times to sell. Transwest Aero Services provides sales trend reports to help financial institutions determine their lending risk and for owners to understand the current market sales trends for their aircraft.
Sometimes a client needs to know the value of an aircraft as of a specific date. Transwest Aero Services can provide retrospective appraisals for the purpose of divorce, partnership dissolution, estate valuation and property tax appeals.
Even though an aircraft has been expertly repaired, an experienced appraiser is needed to evaluate a damaged aircraft in order to determine the diminution of value caused by the damage.
Desktop Appraisals and Published Price References
A desktop appraisal is one where the appraiser does not actually look at the aircraft or the maintenance records. Clients sometimes try to save money by using published price information or a desktop appraisal but these methods are only as good as the information used. At best they will tell you what an average airplane might be worth. If the owner or broker embellishes the condition of the aircraft, or an important detail is missed, the value can be wrong by far more than the price of a certified appraisal from Transwest Aero Services. A desktop appraisal should only be used when there is no way for the appraiser to actually see the aircraft and the maintenance records.