Evaluating Aircraft

   
   
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STARTING WITH A KNOWN STANDARD

The first step in the process of appraising any aircraft is to establish a baseline from which other component values may be added or subtracted. This would be considered to be the "average" aircraft. While it's doubtful that this aircraft actually exists, it does provide a standard. Differences between your aircraft and the "average" can then be easily calculated.
    The "Average" Aircraft is considered to include:
  • Average airframe time
  • Complete and Original logs
  • Average paint and interior
  • No damage history
  • Annual inspection six months old
  • All AD notes in compliance.
  • Average engine time (more on this later)

Some pricing guides assume an "average" avionics package, but our experience shows that this is definitely an inaccurate approach. As the fleet ages, and older aircraft are equipped with the latest avionics, the "average" package has become the exception rather than the rule. The modern avionics package now represents a significant percentage of the aircraft value, and should be properly calculated as such.

Production years are obviously important, but with most of the general aviation fleet over twenty-eight years old, the distinction in values between model years is less important than it used to be. Even so, a 1980 Warrior is worth more than a 1979. Once you have decided on a specific aircraft, do some further research to determine the differences between different models and production years. (The Aviation Consumer's Used Aircraft Guide is the best source of this information-see the link at top left). In most cases, the next years' model carries a bit more, or goes a little faster, or was produced with a nicer interior. However, this is not always true, and sometimes earlier model years are more desirable than later ones.

For the purposes of this appraisal, we will use our Aeroprice Aircraft Appraisal software. We enter the year and learn that the average retail value of a 1976 Hawk is $33,320 (NOT a current value- for example only) Next, let's examine the effects of airframe time.