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. To the sellers, aircraft valuation is an important step to having a better position in the market. 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.
As a seller or even a buyer of an aircraft, you should be knowing why you are about to do its valuation before embarking on it. There are so many reasons why different people do the aircraft valuations and some of the two major reasons or purposes for aircraft valuations include in order to determine the general insurance policy value of the aircraft and also to get the right market value for the aircraft especially when selling it. The other important tip for the aircraft valuation is knowing the right person to do so, an appraiser can properly do the valuation for your aircraft.
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.
There are so many ways of knowing the person to perform the aircraft valuation and know if he or she has the right training and experience or not. The first way of knowing the person to perform the aircraft valuation is by interviewing him in person. Another great tip for understanding your aircraft valuator is by checking the market database analysis he or she uses. It is also important to take a look at the hidden weaknesses of your aircraft.
It is very important to be aware of the various factors that might affect the valuation of your aircraft. Always maintain your aircraft on regular basis to keep its interior, engine as well as the airframe in the right manner as these greatly affect its valuation.