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Here's the results of an Aeroprice QuickQuote for a typical Cessna 172. Click on the links and compare our results with those of the other services. You may be surprised!

BASE VALUE for a 1970 Cessna 172 is $34,063

AIRFRAME

According to the NAAA, the average airframe time for this plane is an astounding 8,125 hours- meaning the average 1970 Hawk has flown 262 hrs/year, or over 5 hours every single week, every year for the past 31 years! For this Skyhawk's very low TTAF of 2,000 hrs., NAAA assigns all of $2,350, or 39 cents per hour. In our testing, the "E-Valu-Ator did not deduct for higher airframe time until it exceeded 12,000 hours. Close Window

According to Vref, the average airframe time for this plane is an astounding 6,655 hours- meaning the average 1970 Hawk has flown 215 hrs/year, or over 4 hours every single week, every year for the past 31 years! For the Skyhawks very low TTAF of 2,000 hrs., Vref assigns all of $3,472, or 75 cents per hour. Close Window

Average airframe time for this year and model is 4,652 hrs.
Total time on this aircraft: 2,000
Percent of average: 43 %
AIRFRAME TIME ADJUSTMENT: +$4,559

ENGINE

Would you pay more for an aircraft with a factory NEW engine? Of course you would! But using VREF there is no way to distinguish between a field overhaul, factory overhaul. remanufactured, or even a NEW engine. In our opinion, this is a glaring deficiency that precludes any possible chance of getting an accurate engine value. Close Window.

Engine values are properly calibrated on the NAAA site, and there is a good selection of overhaul criteria. (We felt the overhaul cost of $9,650 to be a bit low, however.) Close Window

The standard engine for this aircraft is a Lycoming
O-320-E2D, with a recommended TBO of 2,000 hrs. or 12 years.
Time on this engine:131 hours since Remanufacture.
ENGINE VALUE ADJUSTMENT: +7,004

AVIONICS

Neither the Garmin 430 nor the MAC 1700 are listed as avionics options on VREF- it is simply not possible to include their value. In an age when ADF's are fast disappearing from the instrument panel, would you pay an additional $2,700 for this 32 year old Hawk because it had a King digital ADF? That's how much VREF adds! Close Window

In order to enter this avionics package with NAAA, you must know that the MAC1700 was manufactured by McCoy, the KR-87 by King, and even the exact make and model of the glideslope receiver! There is also no way to specify whether a GPS is Approach Certified, Enroute Certified, or just VFR. In an age when ADF's are fast disappearing from the instrument panel, would you pay an additional $2,790 for this 32 year old Hawk because it had a King digital ADF? That's how much the "E-Value-Ator" adds! Close Window

Value has been added for the following avionics:
McCoy MAC 1700 Nav/Com
One Glideslope
Garmin GNS 430 GPS/Comm (Approach Certified)
Bendix-King KR-87 ADF
AVIONICS VALUE ADJUSTMENT: +$7,848

EQUIPMENT & MODS

NOT ONE of these important. expensive items can be entered using the VREF pages. They're just not listed. Close Window

NAAA added $2,400 for the additional tank, but apparently size doesn't matter- it adds the same value for any number of gallons of additional fuel capacity. The added value of standby vacuum, shoulder harnesses, Rosen visors, the 3-bladed prop and the Tanis heater are all ignored. These and many similar items can substantially affect the value of any plane, but cannot be entered in the NAAA pages. Close Window

Additional listed equipment that substantially affects the value:
Standby vacuum
3-blade prop
Engine heater
Shoulder Harnesses
Rosen Visors
Long Range fuel (57 gal. total)
EQUIPMENT VALUE ADJUSTMENT: +$2,706

INTERIOR

Here's where the "E-Valu-Ator" is very confusing. While the user instructions state that the aircraft is assumed to be "in average condition", the default for both paint & interior is "good". There is no choice between "average" and "poor", so a below average interior can't be entered. Close Window

VREF adds value ONLY if the interior is new. There no adjustments or deductions for poor condition, or even above average. Also, if just the interior on our Hawk was new, VREF would give the plane an additional $5,500 in value. That's quite an interior for a 1970 Hawk - do you believe it's worth it? Close Window

Condition: Poor
VALUE ADJUSTMENT: -($1,912)

EXTERIOR Condition:

Similar to the way it treats interiors, VREF adds value ONLY if the paint is new. There no adjustments or deductions for poor condition, or even above average. Close Window

This is very confusing. While the user instructions state that the aircraft is assumed to be "in average condition", the default for both paint & interior is "good". There is no choice between "average" and "poor", so a below average paint job can't be entered, and even brand new paint receives only a $1,350 value adjustment. Oddly enough, if you don't know the condition of the paint, click on the "Unknown" option and the program deducts an arbitrary $450. (?) Close Window

Above average
VALUE ADJUSTMENT: +$1,908

DAMAGE:

You simply cannot enter any damage history on VREF. No inputs or value adjustments are possible. Close Window

While it's a well known and accepted fact in the industry that the financial effects of any damage history decrease with time, this common principle is not applied in the NAAA program- a 30 year old damage incident gets the same deduction as one from last week. Close Window

No Damage History

LOGBOOK STATUS:

The E-Valu-ator asks only "Are the logbooks original?", and deducts a large fixed value if the answer is no. Like damage history, the effects of a missing log or two can vary tremendously, depending on the circumstance. This inflexible approach does not reflect the real market effects of missing log scenarios. Close Window

VREF does not provide any way to compensate for missing logbooks. Close Window

Complete and Original

CURRENT RETAIL VALUE: $56,716*

VREF cannot provide a complete and accurate value for even this simple aircraft. As explained in each section above, there are many avionics and items just plain not included on the site pages, as well as other values that appear very questionable. Close Window

The NAAA "E-Valu-Ator" cannot provide a complete and accurate value for even this simple aircraft. As explained in each section above, there are many avionics and items just plain not included on the site pages, (as well as other values that appear very questionable.) Close Window

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* Values used in this sample QuickQuote are for demonstration purposes only, and do not reflect current market values.