It takes knowledge and experience to determine the value of an aircraft in today’s market, especially when you’re thinking of investing in one. To define worldwide aircraft appraisals, it is a person whose impartial opinion and knowledge on all the factors relevant to the current behavior of the aircraft market. The process begins with a physical examination of the aircraft, wherein each component of value is identified, verified, and graded as per their current condition by the appraiser. All the relevant factors in the market are considered, everything is thoroughly research and considered. Finally, a report is prepared to help a client go through the detailed analysis. It is an accurate way for clients to develop a credible opinion about the value of the aircraft.
The common value of determinations
These include:
- Market value: An estimate of the cost of the aircraft in the competitive and open market
- Retrospective value: An opinion of the value of the aircraft in regards of its historical date. Aircraft Fleet Appraisals often use estate matters, litigation, and insurance claims.
- Prospective value: An opinion of value based on its future value. It determines the damage repairs, refurbishing, engine overhauls, avionics upgrade and other improvements.
- Other value determinations: These include liquidation value, forced liquidation value, diminution of value, replacement cost, and scrap value.
- Appraisal review services: This type of appraisal service determines the accuracy and procedure followed by an appraiser’s work.
- Qualified expert witness: This covers areas like aircraft valuation and appraisal reporting.