How is a Certified Appraisal Performed?
A Certified Aircraft Appraisal begins with a thorough examination of the exterior and interior of the aircraft. Special attention is paid to the condition of the airframe, paint, engines, propellers and instrumentation. The avionics and related flight instruments are inventoried to insure they are properly accounted for in assessing the value of the aircraft. The panel layout, optional systems, deicing systems, cabin and interior condition are also evaluated. Airframe and engine modifications as well as signs of present damage are documented. Service Bulletin status and Airworthiness Directive (AD) status are reviewed as is the status of any historical damage repairs. The condition of “wear items”, e.g. tires, paint, interior, etc. are compared to comprehensive and detailed written NAAA standards.
The logbooks and paperwork are carefully reviewed because these document the historical care or abuse that was given to this particular aircraft. This review documents whether maintenance was done to keep the aircraft in top condition or just to maintain a minimal level of air worthiness. Frequently what is not recorded is important, e.g. missing annual inspections, missing or defaced pages, and undocumented modifications. Special attention is given to any incidents of past damage as this may or may not have a significant impact on the aircraft’s value. click here to review how historical damage events are handled.
After the aircraft inspection and paperwork examination is complete, the process of establishing the aircraft’s value begins. Utilizing the databases and proprietary software developed by the NAAA, the information from your aircraft is entered into the NAAA database (this database is updated every month). After the detailed Aircraft Appraisal (typically 6 to 12 pages) is generated, it is reviewed by a Certified Appraiser for accuracy. Once the appraisal has been approved it is signed and stamped as a NAAA Certified Aircraft Appraisal. click here to view a sample report.