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#1
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evaluating aircraft
Guys, thanks in advance for your help on this one. My airplane was lost in
Katrina (more on that later), and I am looking at buying a quarter share of a local plane. I am trying to get a decent idea of the valuation of the aircraft, which is a '79 Archer II. I have run the numbers on both the National Aircraft Appraiser Association (NAAA) through Trade-a-Plane and the AOPA's website, Vref. The NAAA is much more thorough, allowing you to define each avionic, specify damage history, exact times for engine and prop. The Vref is much less comprehensive. The results are vastly different. The NAAA values the airplane at $61K while Vref values it at $73K. I didn't expect them to be exactly the same, but that is a huge difference. I suspect that the true market value is somewhere in between, but where? Any ideas? |
#2
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evaluating aircraft
("GE" wrote)
The NAAA values the airplane at $61K while Vref values it at $73K. I didn't expect them to be exactly the same, but that is a huge difference. I suspect that the true market value is somewhere in between, but where? Any ideas? Offer $58K. You'll find out in a hurry if that's the real 'true market value' or not. That's 20% below the high value and 5% below the low value. You're in the ballpark. Montblack |
#3
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evaluating aircraft
GE wrote:
Guys, thanks in advance for your help on this one. My airplane was lost in Katrina (more on that later), and I am looking at buying a quarter share of a local plane. I am trying to get a decent idea of the valuation of the aircraft, which is a '79 Archer II. I have run the numbers on both the National Aircraft Appraiser Association (NAAA) through Trade-a-Plane and the AOPA's website, Vref. The NAAA is much more thorough, allowing you to define each avionic, specify damage history, exact times for engine and prop. The Vref is much less comprehensive. The results are vastly different. The NAAA values the airplane at $61K while Vref values it at $73K. I didn't expect them to be exactly the same, but that is a huge difference. I suspect that the true market value is somewhere in between, but where? Any ideas? (1.) If you've never been in a 4-way partnership, be warned that you need to get 4-way consensus on all major decisions, which can take time and be troublesome. Also with that many people involved, it increases the probability that all will not have the same objectives, like whether to minimize maintenance expense by deferring maintenance until enough squawks build up to justify ferrying the plane to another field where the cheap fixer lives, or fix each squawk as it comes up, even if it means paying more to keep the plane continuously dispatchable and squawk-free. You can probably guess how I know this. Know your partners. (2.) Spend ~$20 at http://www.aeroprice.com for an email evaluation. I have no vested interest, just a happy customer. Dave |
#4
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evaluating aircraft
In article ,
"GE" wrote: The NAAA values the airplane at $61K while Vref values it at $73K. I didn't expect them to be exactly the same, but that is a huge difference. I suspect that the true market value is somewhere in between, but where? Any ideas? I feel that vref is usually way too high for such aircraft. I know it pegs my cherokee 140 at way over $50,000 and I just don't think my own airplane is worth that much. The NAAA number looks reasonable (assuming relatively high time engine and airframe). -- Bob Noel New NHL? what a joke |
#5
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evaluating aircraft
The email website evaluators can only do so much. If you need to know the real value of the aircraft and you want it to be accurate, you should get a live aircraft appraiser to come out and prepare an appraisal. It'll cost a bit more than the web and email things, but it will also give you the value of THAT airplane, not an average of all the others that are similar in one or more ways |
#6
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evaluating aircraft
The TAP NAAA evaluator is supposed to give you an asking price in TAP.
Planes TYPICALLY sell for less than that now, as the market is soft. Also, a valid comparision would be to compare the NUMBER of Archers in TAP now, as compared to some time(s) ago, as this would give a TREND (more now than yesterday means declining prices, because more are trying to sell). You will NEVER get a precisely accurate appraisal on ANYTHING because each sale is different and the volume of aircraft is low, so low liquidity. At best, you get an estimate. Most appraisals are higher than actual sale. Also, you might look in Ebay, under the transactions completed. Ebay prices tend to be low, but if there are some Archers in there it does give you some information. Also, for partnerships, there MAY be value in the partnership itself, above and beyond the plane. Is there a maintenance fund? If so, then 1/4 of that will become yours? So that would be included. Also, the fact that there is an existing partners, existing maintenance procedure and partnership paperwork is not trivial, and does contain value. And of course you need to evaluate the quality of your partners (can they pay their bills etc). |
#7
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evaluating aircraft
Doug wrote:
snip Also, for partnerships, there MAY be value in the partnership itself, above and beyond the plane. Is there a maintenance fund? If so, then 1/4 of that will become yours? So that would be included. Also, the fact that there is an existing partners, existing maintenance procedure and partnership paperwork is not trivial, and does contain value. And of course you need to evaluate the quality of your partners (can they pay their bills etc). A partnership can also be a value negative. The seller is restricted to a local market, whereas if he were selling the entire plane, he would have a national or worldwide market. Dave |
#8
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evaluating aircraft
GE wrote:
Guys, thanks in advance for your help on this one. My airplane was lost in Katrina (more on that later), and I am looking at buying a quarter share of a local plane. I am trying to get a decent idea of the valuation of the aircraft, which is a '79 Archer II. I have run the numbers on both the National Aircraft Appraiser Association (NAAA) through Trade-a-Plane and the AOPA's website, Vref. The NAAA is much more thorough, allowing you to define each avionic, specify damage history, exact times for engine and prop. The Vref is much less comprehensive. The results are vastly different. The NAAA values the airplane at $61K while Vref values it at $73K. I didn't expect them to be exactly the same, but that is a huge difference. I suspect that the true market value is somewhere in between, but where? Any ideas? I've found that about halfway between what Vref and Trade a Plane show is usually the market value. |
#9
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evaluating aircraft
Otis Winslow wrote:
: I've found that about halfway between what Vref and Trade a Plane show : is usually the market value. My airplane is for sale at a price less than T-A-P and 15% less than Vref with exactly zero interest from buyers. -- Aaron C. |
#10
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evaluating aircraft
Aaron Coolidge wrote:
My airplane is for sale at a price less than T-A-P and 15% less than Vref with exactly zero interest from buyers. What kind of aircraft? -- Peter |
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