Aircraft valuation is an important step to getting an aircraft that is of high quality and an aircraft that will serve you best. By knowing how to do the valuation of an aircraft before selling it gives you a good opportunity to sell it for good cash and also get more buyers who are willing to buy it. It is important to understand that aircraft valuation is not a simple thing and if done wrongly, there can be so many risks. There are however some key things to take into consideration before doing aircraft valuation. Below are some of the key things you should always take into consideration for a better and an easy aircraft valuation process.
As a seller or even a buyer of an aircraft, you should be knowing why you are about to do its valuation before embarking on it. For the owners of the aircrafts, the valuations of the aircrafts may be done in order to know the amount you would be compensated in case of any damage to the aircraft by knowing its insurance policy value while to the aircraft sellers, the valuation may be very suitable for the purposes of knowing current value of the market it has. Not every appraiser or valuator you will come across can actually be suitable to perform the valuation of your aircraft in the right manner and thus important to ensure that you properly understand the person you hire to do the valuation.
In many aircraft industries across the world, there are standards set to regulate the experience or even the training that one should have in order to perform the aircraft valuation which therefore means that you might end up hiring any person without enough knowledge of how the right aircraft valuation is done and thus the reason why it is always advised to first know who the appraiser is before hiring him or her.
You can know your aircraft valuation appraiser in so many ways some of which are discussed below. By visiting the person to do the valuation for your aircraft and interviewing him or her about the various ways to doing it and some other things related to the aircraft industry can greatly open up your eyes and help you know whether he has the right qualifications and experience for a better aircraft valuation or not. It is also important to look at the market data base analysis the appraiser uses to do the valuation for your aircraft. Do not always major your observation basing on the parts that may you happy and comfortable about your aircraft but instead focus on the hidden deficits on your aircraft for easier valuation.
There are some key things that might greatly affect your aircraft’s valuation and thus important to be aware of them. The installed equipment or the technology inside the aircraft, the engine hours, the airframe hours and the age of the airframe, the damage of the aircraft among other factors can affect its valuation and thus important to keep a maintenance schedule for the aircraft.