In case want to buy an aircraft, it is very important to make sure that you know how to do its valuation before buying it. By knowing how to do the valuation of an aircraft before selling it gives you a good opportunity to sell it for good cash and also get more buyers who are willing to buy it. It is important to understand that aircraft valuation is not a simple thing and if done wrongly, there can be so many risks. It is therefore very important to understand some of the key tips that can help you do it easily. Below are some of the key things you should always take into consideration for a better and an easy aircraft valuation process.
The first tip for better aircraft valuation is knowing the reason of the valuation. Different sellers and buyers of aircrafts do the valuations for different reasons where some do to determine the aircrafts’ insurance policy value and others do it in order to get the market guiding value. It is important to understand that the major aim for aircraft valuation is to actually build the value for your aircraft and thus important to make sure that you know the kind of a person you are hiring to perform the valuation.
There are no standards to regulate the experience or even the training that one must have in order to perform the aircraft valuation which therefore means that any person can actually provide the aircraft valuation services and thus important to make sure that you properly understand any person in the industry before hiring him or her.
The following are some of the few ways through which you can know if the person to perform the aircraft valuation has the right experience or not. It is very important to make sure that you visit the aircraft valuation appraiser and interview him or her so as to know whether he possess the right qualifications and experience or not. Different people use different market database analysis to do the valuations for their aircrafts and thus important to know the kind of the database your appraiser or valuator uses to do the valuation. It is also important to take a look at the hidden weaknesses of your aircraft.
There are some key things that are likely to determine or affect the valuation for your aircraft. Some of the factors that are likely to affect the valuation of your aircraft include the engine hours, the level of damage on your aircraft, the age of your airframe, the interior wear among other things.