Determining the price of an aircraft can be a daunting task especially because it involves a lot to evaluate in order to get the right sale price. Here are some of the notable things to look at when valuing an aircraft.
Consider the aircraft hours in the air as well as the age. Every hour it flies a certain amount of its value is lost. While that happens, the aircraft grows smaller, and its value subsequently goes down. Usually it is simple to determine thus a factor, simply the total number of hours flown over the fleet’s average. So from the hours in the sky, you can easily use that to value any plane. 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. Consider engine hours. 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. Usually, the records show the airworthiness of the directives including the maintenance needs, thus have a general impact on the overall value. Aircraft valuation would be based on several records which the buyer should ensure that he or she has access to, for example, the airworthiness certificate, the balance data, weight among other things. 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.
How the plane appears in the inside, the layout and the chairs etc. affect the value should f the plane. Properly fit and in good condition likely enhance the value of the plane. So check with the interior to know whether it can enhance or lower the price of the plane. Paint usually enhances the value of a plane, but you need to be cautious because paint can hide anything, there may be hidden corrosion behind it.
Damage history, another major factor in putting into Mind. You simply look at things like the kind of accident that happened, the extent to which parts got damaged etc. Based on the damage history be sure to come up with the right price at the end. Aircraft valuation would only be successful with such things put into mind.