Putting the right price on an aircraft is very overwhelming, you need to check out so many things for you to price it rightly. Aircraft Valuation can be evaluated using do many parameters as discussed below.
The age and the hours it has flown are some of the major things that you can actually look into. Whenever a plane flies, each hour in the sky, a dime amount of value is gone. While that happens, the aircraft grows smaller, and its value subsequently goes down. This can be identified with the total number of hours flown against the overall fleet average. The total air frame hours have a greater impact on the plane’s value. So the very first step to valuing a plane is simply looking at the hours it has flown and the age.
Secondly, the installed equipment has an impact on the value of the plane. We have quite a number of things to evaluate here, from the technology employed inside the plane, the gear system, the air conditioning, the other supporting systems all of which must be included into the decision to arrive at the right price. So it can be easy by just looking at the things to check what the plane can go for. Also, the engine hours are some other thing to evaluate. You only check how many hours can it fly before landing, if for longer hours then the price would be high, but when it keeps on flying to destination to destination at lesser hours then the value would actually be low.
As if that is not enough, check the records and the airworthiness directives. Normally, the records are very helpful especially when it comes to airworthiness directives and the maintenance needs. We have so many things that the records have, for instance, the purchaser needs to see the airworthiness certificate, the balance data, the weight so as to know what to do. Make sure that the seller has all these records to guide your decision, if one does not have them, then the value should just go down already.
The inside of the aircraft has an impact on its value. Properly fit and in good condition likely enhance the value of the plane. The interior is the simplest thing to evaluate, just the design and technology used, that’s all, and you can be able to know if it lifts the value or pulls it down. Paint works would add value to the plane but be extra careful because you do not know what is behind that, maybe corroded plane parts.
Damage history would also make it to the list of factors to evaluate. Consider the type of accident, degrees to which the aircraft was affected. Check with the history to know how well to value the aircraft. To conduct an effective aircraft valuation, then you can look at done of the things above.