An Appraisal is Different Things to Different People.
To the Buyer the appraisal is an impartial professional opinion as to the value of the particular aircraft they are planning to purchase. Further, the appraisal can assist in expediting the sale of the aircraft because the buyer and seller know the fair market value and relative condition of the aircraft through the independent appraisal.
To the Seller the appraisal gives them the confidence of knowing the condition and the current fair market value of their aircraft.
To the Banker the appraisal documents the value, and condition of the aircraft. The appraisal also supports the bank's collateral position in the aircraft loan.
To the Insurance Groups it is important to have documents on file that provide the description of the condition of equipment of the aircraft at a specific point of time, ensuring that the aircraft is insured at proper levels.
To the Attorney and the Legal community the appraiser works to help establish the fair market value of aircraft involved in litigation - including identification of the diminished value associated with damage, past or current, and/or missing log books. (note - On-line or pricing guides simply cannot provide that service).
To Everyone an appraisal is an impartial, independent, and objective opinion of the value of an aircraft, prepared by experts considering the factors which make up the current behavior of the Used Aircraft market. It is an opinion of value based upon experience and repeated analysis of these factors. It is an opinion of value which can be substantiated and justified. It is an opinion of value made by a Certified, Recognized, Professional Aircraft Appraiser using the NAAA software.
To be impartial and correct, the Professional Aircraft Appraiser must acquire all the facts about the aircraft in question.
National Aircraft Appraisers Association Members Assure the Best Possible Information by Providing the Following Services:
How much will the Aircraft Appraisal cost?
Fees will vary depending on the size of the aircraft and the length of time involved in completing analyses of all relevant data.
How long will it take to complete the report?
One must allow sufficient time for the appraiser to do a thorough job. The appraiser may spend a short time actually inspecting the aircraft, but will spend considerable time researching data. The Certificate of Appraisal and Inspection Data Sheet Analysis of the Appraisal is issued after the physical inspection of the aircraft has been completed.
Standards of Professional Practice and Conduct
The National Aircraft Appraisers has established rigid standards of professional practice and conduct to which every Association Member must adhere. It is essential to all parties receiving and relying upon appraisals that these standards be meticulously maintained.
The National Aircraft Appraisers Association provides a broad range of service to the Aviation Industry through its Professional Approach to Aircraft Valuations. Bankers, Insurers, Purchasers, Sellers, and owners immediately recognize the value of an Independent Aircraft Appraisal.
Need more information? Feel free to contact me personally by phone at (519) 822-2206 or through email by clicking here.
Click here to learn more about the appraisal process.
What is the Purpose of an Appraisal?
John Polonenko is endorsed for the Uniform Standards of Professional Appraisal Practice.
John Polonenko is a member of the National Aircraft Appraisers Association.
ROMCO c/o John Polonenko, PO Box 31072, RPO Willow West Guelph, ON N1H 8K1 Canada
local: 519.822.2206 : john(at)aircraftappraisers.ca | AircraftAppraisers.ca (a ROMCO Company). Copyright ©2015