small aircraft in a turn for an aircraft appraisal

NATIONAL AIRCRAFT

APPRAISERS ASSOCIATION

What is the NAAA ?

The National Aircraft Appraisers Association (NAAA), is the trade association for professional aircraft appraisers. aircraft appraiser Since 1980, the NAAA has been the leader in establishing the standards and code of ethics for professional aircraft appraisers in the United States and abroad. The NAAA has more Certified Senior aircraft appraisers with additional USPAP training than any other appraiser association. Unlike other appraiser associations NAAA members perform only aircraft appraisals. As a result of the NAAA being THE certification entity with the most advanced, complete, up-to-date data base resources.

Accepted by the National Deposit Insurance Corporation

The National Aircraft Appraisers Association is the ONLY certification authority accepted by the NDIC (National Deposit Insurance Corp.) and its member banks. Furthermore, aircraft appraisals performed by NAAA members are recognized coast to coast by virtually every legal authority, as THE legal authority in aircraft appraisals.

Value of the NAAA

What's the difference between an aircraft's value calculated using the National

Aircraft Appraisers Association aircraft valuation computer software and an

aircraft value determined by using one of the aircraft price guides?

The differences are enormous and to answer this question would take many pages. Briefly let us use this analogy. Aircraft price guides are published, marketed, and distributed by book publishing companies. The facts are, they do not appraise aircraft, they do not even gather or generate their own data. Rather, they simply send out a questionnaire every 3 months to subscribers of their books and ask a few questions which at best are very vague. From these questionnaires the book publishers generate their data base. An interesting point to consider is this: Nowhere on these questionnaires do the price guide book publishers request information regarding: • The aircraft's damage history. • Engine or airframe modifications, if any. • Make and model of installed avionics and if there were any avionic upgrades. • Physical condition of the airframe including surface corrosion etc. • Inspection status of the aircraft. For example, the aircraft may have been out of Annual for some period of time or/and there may be Airworthiness Directives and/or mandatory Service Bulletins which have not been complied with. • Propellers and time since overhaul. • Engine overhaul status. For example, was the engine field overhauled to FAA overhaul service limits or overhauled to factory new limits or a new engine. • Condition of de-ice equipment, instrumentation and other systems and components. It is truly a mystery how one could generate an accurate database of aircraft values without a clue regarding the condition of the airframe, make and model of avionics, damage history, airframe or engine modifications and all of the other important value points listed above. The National Aircraft Appraisers Association is the only organization in the world which considers all of these factors in its database. Additionally, all of the information the National Aircraft Appraisers Association uses is verified by its 350 Certified Aircraft Appraisers members who have physically evaluated the aircraft, and each Association member subscribes to the same evaluation criteria while performing the appraisal. The end result is an extremely accurate database that is verifiable. AERONUVO can provide to you a professional opinion of the present market value on an aircraft, the value on an aircraft to be renovated or modified and the value of an aircraft as a prudent safeguard against excessive tax assessments, capital gains and other taxes. Our Premier and Certified Aircraft Appraisal Services include Aeronca, Aero Commander, American Champion (ACA), American General, Aviat Husky and Pitts, Beechcraft (Beech), Bellanca, Citabria, Cessna, Cirrus, CubCrafters (Cub Crafters), DAHER SOCATA, Diamond, Ercoupe, Glasair, Great Lakes, Grumman American, Lancair, Luscombe, Maule, Mooney, Piper, Rockwell Commander, Stinson and More. AERONUVO provides its customers with our unique and customized aircraft appraisal services at many airports in some instances with no added cost in the states of Virginia (VA), West Virginia (WV), Pennsylvania (PA), Maryland (MD), Delaware (DE), North Carolina (NC) and New Jersey (NJ).

beautiful mooney airplane in flight for an aircraft appraiser

A Low Time Engine May Not

Mean Quality and Value

Reading the “Aircraft for sale” advertisements can be interesting and misleading. As aviation-oriented people, we are conditioned to look for certain bits of information which we believe will allow us to evaluate the product offered for sale. In the case of airplanes, this information can generally be segregated into three categories – airframe, avionics and engine. For purposes of this section, you are on your own with respect to airframe and avionics. There does seem to be information on engines which cannot be emphasized too strongly. Engine information is usually provided as hours of operation since new or from some major maintenance event. For example, 700 TTSN (Total Time Since New) would indicate that the aircraft and engine have been flown for 700 hours since new from the factory. Other, but not all, engine related abbreviations include SMOH (hours since major overhaul), SPOH (hours since prop overhaul), STOH (hours since top overhaul) and SFRM (hours since factory remanufacture). Assuming that the recommended TBO (Time Before Overhaul) of the engine being considered is 1800 or 2000 hours, it would appear that hours of use in the 400- to 800- hour range would automatically make this engine a very valuable commodity. Unfortunately this is not always true, and therefore an advertisement like this may state numbers and facts which are absolutely correct, but still misleading. Consider a situation which occurred recently. A Lycoming IO-360 engine with less than 700 hours since new was reported to be using oil at the rate of two-thirds quart per hour and losing oil pressure during flight. On closer examination, it was determined that deterioration and wear had caused metal contamination throughout the engine. An engine overhaul was necessary, and it included replacement of items such as the camshaft, oil pump gears and pistons. Why should an engine with less than 700 hours since new be in this sad state? It should be apparent that the number of hours the engine has operated is only part of the story. We need to know all the facts if we are to understand what may have happened to this normally reliable engine, and also if we are to determine the value of a lowtime engine in a preowned airplane.