What is American Society of Appraisers?

The American Society of Appraisers is a world renowned and respected international organization devoted to the appraisal profession. ASA is the oldest and only major appraisal organization designating members in all appraisal specialties.

What is NAAA?

The National Aircraft Appraisers Association (NAAA) is the Trade Association for professional aircraft appraisers. Since 1980 the NAAA has been the Certification entity and has established the standards and Code of Ethics for professional aircraft appraisers in the United States and abroad. 

What is PAAOl

The Prrofessional Aircraft Appraisal Organization was formed by several previous members of the now defunct and closed NAAA. The need for a better appraisal organization was obvious to many of the members and the PAAO was setup to address those issues and improve training, exposure, knowledge, communication, cooperation, and the abilities of those who wish to join the organization.



What is USPAP?

USPAP stands for Uniform Standard of Professional Appraisal Practice. The United States Congress authorized the formation of USPAP in 1987 following the Savings and Loan Crisis. USPAP establishes the accepted standards for all types of appraisals including Aircraft Appraisals.

Download a brochure on USPAP by  Clicking Here.

Valuation of an Asset is perfomed to create an unbiased third party opinion of the subject aircrafts Fair Market & Liquidation Value.

Levels of Service

Desktop Appraisals. As the name implies, this type of appraisal is limited by certain assumptions.

A desktop appraisal is one which does not include any inspection of the aircraft or review of its maintenance records. It is based upon assumed aircraft condition and maintenance status or information provided to the appraiser or from the appraiser’s own database. The information contained in this document is based on statements and assumptions supplied by the owner/operator.  It includes a brief review and analysis of the current market for that specific aircraft to form a credible opinion of value.

The accuracy of the Desktop Appraisals are dependent on the impartial eye and technical abilities of the person completing the aircraft datasheet, when applicable. A Desktop Appraisal may or may not meet the collateral documentation & asset verification requirements of your lender as an unbiased third party has not inspected the aircraft.

This is a great tool and is typically utilized by Clients who wish to ascertain a preliminary value of an aircraft for a specific transaction prior to signing on the dotted line to purchase the aircraft.  It gives the Client a warm and fuzzy if their Letter of Intent to purchase and original negotiation was in the ball park for a fair market value.  It is not uncommon for the Letter of Intent or actual Purchase agreement to have an out for the buyer that the aircraft does of course value out to what they have  agreed to pay.  There are times where appraisals do not come in to the agreed value and the parties typically go back to the negotiating table to hammer it out.

The appraisal includes the following:
1. Unbiased Certified Appraisal based on client submitted data of a specific aircraft. Client must submit required data to complete the report.

2. Value definitions: Fair Market Value, Future Fair Market Value, Liquidation Value (Orderly or Forced), Diminished Value, Replacement Value, Retrospective Value
3. Service includes: Pdf report, necessary conference calls, emails, letters as required to see project through to completion

 CERTIFIED AIRCRAFT APPRAISAL WITH FULL RECORDS REVIEW (COMPREHENSIVE APPRAISAL)

Our Full Certified Aircraft Appraisals with Records Review are used for the purpose of obtaining an unbiased third party opinion of the subject aircrafts Fair Market & Liquidation Value, based on a physical inspection of the aircraft & records.

A Full Certified Aircraft Appraisals is one that includes a detailed inspection of the aircraft and records. Sufficient detail is required, for example, to ensure that the records are in sufficiently good order to determine Airworthiness. Compliance with applicable Airworthiness Directives, Service Bulletins and other critical time life limiting data is verified attested to by a detailed back to birth review of all logs, records and other data.*

A  Full Certified Aircraft Appraisals is  one which does include a thorough inspection of the aircraft and a review of its maintenance records. It is this Physical Inspection that forms the basis of the aircrafts condition relative to the market. It includes a thorough review and analysis of the current market for that specific aircraft to form a credible opinion of value.

The appraisal includes the following:
1. Unbiased Certified Appraisal based on a Physical Inspection of the Aircraft and its maintenance records as well as thorough Market research and analysis.

2. Value definitions: Fair Market Value, Future Fair Market Value, Liquidation Value (Orderly or Forced), Diminished Value, Replacement Value, Retrospective Value (If requested)

3. Service includes: Pdf report, necessary conference calls, emails, letters as required to see project through to completion

The report averages 30 to 80 pages and will include photocopies of important documents, photographs, legal status, as well as inventory of avionics and other systems.

All Certified Aircraft Appraisals are performed by Vic Patterson a Dual Rated Senior Aircraft Appraiser.