- To the Buyer: the appraisal is an impartial professional opinion as to the value of the particular aircraft they are planning to purchase. Further, the appraisal can assist in expediting the sale of the aircraft because the buyer and seller know the fair market value and relative condition of the aircraft through the independent appraisal.
- To the Seller: the appraisal gives them the confidence of knowing the condition and the current fair market value of their aircraft.
- To the Banker: the appraisal documents the value and condition of the aircraft. The appraisal also supports the banks collateral position in the aircraft loan.
It's been said that "An aircraft is worth what someone will pay for it." Therefore, when setting a selling price for something as valuable as an aircraft, more factual advice than that given by a well-meaning friend is both a necessity and just common sense. Of course this is just as important on the corporate level. Costly mistakes can probably be avoided through the use of a Professional Aircraft Appraiser.
Anatomy of an Appraisal
An appraisal is an impartial opinion of the value of an aircraft, prepared by experts who know all the factors which make up the current behavior of the used Aircraft market. It is an opinion of value based upon experience and repeated analysis of these factors. It is an opinion of value which can be substantiated and justified. It is an opinion of value made by a Certified, Recognized, Professional Aircraft Appraiser.
The Professional Aircraft Appraiser must acquire all the facts about the aircraft in question. The appraiser thoroughly examines the aircraft log books, inspects the exterior and interior of the aircraft and pays close attention to the present condition and the maintenance history of the aircraft. Utilizing the National Aircraft Appraisers Association's extensive computer system, enables the appraiser to give accurate and prompt aircraft appraisals.
Polk Associates is Accredited by the National Aircraft Appraisers Association and Assures the Best Possible Information by Providing the Following Services.
- Detailed examination of airframe, engines, props, instrumentation, avionics and all relative systems.
- Careful review of aircraft documentation including log books.
- Computer analysis of relevant data.
- Sealed Certificate of Appraisal with detailed computerized report.
What is the Purpose of an Appraisal?
- To obtain a professional opinion of the present fair market value on an aircraft.
- To obtain a professional opinion of the value on an aircraft to be renovated or modified.
- An expert opinion of the value of an aircraft is useful as a prudent safeguard against excessive Tax Assessments, Capital Gains and other taxes.
- Appraisals are used to verify Damage Claims resulting from fire, hail, windstorms, accidents and other disasters.
- An appraisal may provide the basis for decision-making in the commitment of funds for acquisition.
- Provides persuasive independent evidence of the condition of an aircraft.
- Assist a prospective purchaser in obtaining financing or insurance.
- Assist the financial institutions by substantiating the nature and value of the aircraft as it relates to collateral.
- Assist the financial institution by supporting the Loan Portfolio for examination by the Loan Committee and/or Bank Examiner.
- Distinguishes sellers aircraft from others that may be listed for sale. Should reduce the time required to sell an aircraft by 50%.
How Much Will the Aircraft Appraisal Cost?
Fees will vary depending on the size of the aircraft and the length of time involved in completing analyses of all relevant data. See Aircraft Fees
How Much Time Should And Appraiser Have to Complete the Report?
One must allow sufficient time for the appraiser to do a thorough job. The appraiser may spend a short time actually inspecting the aircraft, but will spend considerable time researching data. The Certificate of Appraisal and Inspect Data Sheet Analysis of the Appraisal is issued after the physical inspection of the aircraft has been completed.
Standards of Professional Practice and Conduct
Polk Associates has established rigid standards of professional practice in compliance the standards of both the National Aircraft Appraisers Association and the American Society of Appraisers. It is essential to all parties receiving and relying upon appraisals that these standards be meticulously maintained.
Polk Associates provides a broad range of service to the Aviation Industry through its Professional Approach to Aircraft Valuations. Bankers, Insurers, Purchasers, Sellers and owners immediately recognize the value of an Independent Aircraft Appraisal.
James Polk's, knowledge of the personal property appraisal market is based on extensive study, education, and over 30 years experience in the Automotive, Aircraft and Related Industries. He appraises Personal Property including Aircraft, Cars, Trucks, Motorcycles, RVs, Boats, Machinery, Equipment and Residential Contents.
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