You've found an aircraft with photos that look great, the price seems fair, and you're ready to make an offer. 

But here's something that might surprise you: according to aviation experts, complete maintenance records can represent 30-50% of an aircraft's total value. That means what you see on paper matters just as much as what you see in the hangar. 

Getting a proper aircraft appraisal before you buy or sell protects you from costly mistakes and gives you real confidence in your decision. This post talks about what an appraisal really does and why it matters so much for your wallet and peace of mind.

Key Takeaways

To appraise an aircraft before buying or selling, you must find its true value by checking its age, hours, condition, maintenance records, and current market prices. This helps buyers avoid overpaying and helps sellers set a fair price. A proper appraisal looks at how well the plane has been cared for, how much it has been flown, and how similar aircraft are priced. Getting an expert opinion can also help make sure the value is accurate. You'll need one to get financing, set the right price when selling, or make sure you're not overpaying when buying. Choose between three types: a quick price check ($25-$400), a desktop review ($500-$600), or a full physical inspection ($2,500-$8,000+). Always hire a certified appraiser with credentials from organizations like ASA or PAAO.

TopicWhat You Need to Know
What It IsProfessional opinion of aircraft's fair market value and condition
When You Need ItBuying, selling, financing, insurance, or refinancing
Three TypesPricing digest (cheapest), desktop appraisal (mid-range), physical inspection (most thorough)
Cost Range$25 to $8,000+ depending on aircraft type and appraisal depth
Who Does ItCertified appraisers with ASA, PAAO, or ISTAT credentials
What Affects ValueLogbooks, damage history, maintenance, condition, avionics, market demand
Time to Complete48 hours (desktop) to 10 days (physical inspection)

What Does an Aircraft Appraisal Tell You?

Think of an appraisal like a report card for an airplane. A certified aircraft appraiser looks at everything about the plane and tells you what it's really worth in today's market. This isn't just someone's guess. It's a careful study based on facts, records, and what similar planes are selling for right now.

Here's what a good aircraft valuation covers:

The appraisal process follows strict rules set by groups like the ASA (American Society of Appraisers). These rules make sure the report is honest and accurate. The appraiser can't have any connection to the sale. They can't earn more money if the value comes out higher or lower. They just report the facts.

You'll need this report for several big reasons. Banks require it before they'll loan you money to buy a plane. Insurance companies use it to figure out your coverage. Sellers need it to set a fair asking price. Buyers use it to make sure they're not getting ripped off.

The report also protects you legally. If something goes wrong with a deal later, you have proof that you did your homework. You made your decision based on expert advice, not just a hunch.

A professional aircraft appraisal looks different from what you might get from a friend who knows planes or a dealer trying to make a sale. It's official, detailed, and stands up in court if needed. That piece of mind is worth a lot when you're spending tens of thousands of dollars or more.

Why You Can't Just Look Up the Price Online

You might think you can just check Vref or Bluebook and know what a plane is worth. These are the two big price guides that most people in aviation use. They're helpful, but they only tell part of the story.

Here's the problem. Vref and Bluebook show average prices based on year, make, and model. They give you a ballpark number. But your specific plane might be very different from that average.

Let's say two identical Cessna 182s were built in the same year. Same paint color, same engine. You'd think they're worth the same amount, right? Wrong. Here's why they could be thousands of dollars apart:

See how these details change everything? Online price guides can't know about your specific plane's history. They can't see the records. They can't look at the actual condition. They're working with general information that might be months old.

The current market moves fast too. In 2020 and 2021, plane prices jumped way up because everyone wanted to fly private. The price books couldn't keep up with how quickly values were changing. People who relied only on those numbers either overpaid or underpriced their planes by huge amounts.

Another issue: those books get their information from people who report their sales. But not everyone reports the real number. Some people report the asking price, not what actually sold. Some don't report anything at all. So the data has gaps.

This is why a real aircraft appraiser matters. They don't just plug numbers into a formula. They look at your specific plane, review the actual records, check what comparable planes sold for recently, and give you a number based on reality.

The Real Cost of Skipping This Step

Let's talk about what happens when people skip getting a proper aircraft appraisal. The stories aren't pretty, and the costs add up fast.

For buyers, here's a common scenario. You find a jet that seems like a great deal. The seller is asking $200,000, and Bluebook says it's worth $220,000. Looks like you're getting a bargain, right? You buy it without an appraisal.

Three months later, you discover:

You just spent $85,000 you didn't plan on. That "deal" turned into an expensive mistake. A $3,000 appraisal would have caught all of this before you signed anything.

For sellers, skipping an appraisal costs you in a different way. You might price too low and leave money on the table. Or you might price too high and your plane sits on the market for months while people pass it by. Every month you wait costs you hangar fees, insurance, and the value keeps dropping as the plane gets older.

Here's what else can go wrong:

The average appraisal costs between $500 and $4,000 depending on the type of plane. Compare that to the $50,000+ mistakes people make without one. It's like skipping a home inspection to save $500, then finding out the roof needs replacing for $20,000.

In aviation, where even small mistakes cost big money, getting a certified valuation isn't optional. It's the smart move that protects your investment and gives you confidence you're making the right call.

Finding Out What Your Aircraft Is Actually Worth

Now let's get into the real work of figuring out what a plane is worth. You have three main options, and each one serves a different purpose. Understanding which one you need saves you time and money.

Three Ways to Get an Aircraft Valued

Quick Price Check (Pricing Digest)

This is the simplest and cheapest option. You subscribe to Aircraft Bluebook or Vref (about $300 per year), plug in the make, model, and year, and get a number. Some online tools let you do a single lookup for around $25.

This works well when you're just starting to look at planes. You want to know if that 1985 Piper is closer to $50,000 or $150,000. It gives you a ballpark to work with. But remember what we talked about earlier - this is just an average. Your specific plane could be worth much more or much less.

Use this option when:

Don't rely on this alone for an actual purchase. It's a starting point, not the finish line.

Desktop Appraisal

This is the middle ground. You hire a certified appraiser who works from their office. They don't come see the plane in person, but they do a lot more than just look up the price.

Here's what they review:

The appraiser takes all this information and creates a detailed report. They adjust the base value up or down based on what they find. New engine? Value goes up. Missing logbooks? Value drops significantly. The whole thing usually takes about 48 hours.

Desktop appraisals typically cost $500 to $600. They're perfect for:

The catch: many banks won't accept a desktop appraisal for financing a business jet or expensive aircraft. They want someone to actually see the plane. And if the records are messy or incomplete, the appraiser can't give you a solid number without seeing it in person.

Full Physical Appraisal

This is the gold standard. A certified aircraft appraiser comes to wherever the plane is located and spends one to two full days going over everything. They open panels, look at the engine, inspect the airframe, check the interior, and photograph it all.

They bring their laptop and review every page of the maintenance history right there. They're looking for:

Then they compare all of this to recent sales of similar planes. They factor in the current market conditions. Is your type of plane in high demand right now? Are there ten others just like it for sale, or is yours rare?

The result is a comprehensive report that leaves no questions. Every bank accepts it. Every insurance company trusts it. If you end up in a dispute, it holds up in court.

Physical appraisals cost more because of the work involved:

Add in travel expenses if the appraiser has to fly to your location. The whole process takes about 10 days from start to finished report.

You absolutely want this level of appraisal when:

What Makes One Aircraft Worth More Than Another

Let's break down the big factors that change an aircraft value by thousands or even hundreds of thousands of dollars.

The Logbooks Matter Most

Ask any professional aircraft buyer what they want to see first, and they'll say the logbooks. These books are the plane's life story. Every flight hours, every oil change, every repair - it's all recorded here by law.

Complete, well-organized logbooks can add 30-50% to a plane's value. Here's why they're so important:

Missing even one logbook creates huge problems. Buyers will assume the worst - that something bad happened during that time and someone's hiding it. The value drops immediately, sometimes by $50,000 or more on an expensive plane.

Good maintenance records are neat, typed when possible, and include all the required information. Bad records are messy, handwritten in tiny letters, and leave out important details like total aircraft time.

Past Damage Changes Everything

Here's a hard truth about aviation: damage never fully goes away in buyers' minds. Even if a plane is perfectly repaired and flies great, about 20% of potential buyers will walk away just because there's any damage history at all.

Not all damage is equal though. The aircraft appraisal process looks at:

The appraiser looks at all of this and adjusts the fair market value accordingly. Light damage from the factory that was fixed before delivery? Barely affects value. Structural repairs with ongoing inspection requirements? Could drop value by 15-20% or more.

Condition Inside and Out

Appraisers rate aircraft condition on a scale from 1 to 10, with 10 being brand new. This covers both exterior paint and interior condition. Most planes fall somewhere between 5 and 8.

A 10 rating means everything is perfect. Fresh paint with no scratches. New leather seats with no wear. Carpet that looks like it's never been walked on. Basically, it looks like it just rolled out of the factory.

A 5 rating means average for the age. Some wear and tear, but everything is clean and functional. Maybe the paint is a bit faded. The seats show some use. Nothing is broken, but it's clearly not new.

Below 5 means problems. Damaged seats, worn-out carpet, chipped paint, or things that don't work right. The value drops fast once you're in this range.

Here's something important: just because you spent $50,000 on a new interior doesn't mean the plane's value goes up by $50,000. Upgrades typically add about 50% of their cost to the value. Why? Because buyers have different tastes. Your custom leather might not be what they wanted.

Time and Use

People often ask: does more time on a plane make it worth less? Usually yes, but it's not quite that simple.

Flight hours matter differently for different parts. For the airframe itself (the body of the plane), time matters less than you'd think. Planes are built to last for thousands of hours. A well-maintained 5,000-hour airframe might be in great shape.

Engines are different. Most piston engines need an overhaul around 2,000 hours. If an engine has 1,800 hours, a buyer knows they'll need to spend $40,000+ soon. That comes right off the purchase price.

The ideal scenario: an older aircraft with low hours that's been hangared and well-maintained. You get the benefit of lower prices from an older plane, but it still has lots of life left.

The worst scenario: high hours, poor maintenance, and it's been sitting outside in harsh weather. Everything about that combination screams expensive problems ahead.

Picking the Right Appraiser

Not all appraisers are the same. Anyone can call themselves an aircraft appraiser, but you want someone with real credentials and experience.

Look for these certifications:

Don't just take someone's word that they're "certified." Ask what organization certified them and check that it's one of these legitimate groups.

Experience matters too. You want someone who knows your type of aircraft. A guy who specializes in single-engine Cessnas might not be the best choice for a turbine helicopter. Ask how many of your specific make and model they've appraised.

Check references. Talk to a couple of their recent clients. Were they happy? Did the report come on time? Was the appraiser thorough? Any surprises?

Watch out for these red flags:

A good appraiser takes their time, asks lots of questions, and produces a detailed report you can trust.

Getting Ready for the Appraisal

For Sellers

You want the appraisal process to go smoothly and result in the highest fair value possible. Here's how to prepare:

Start by gathering every piece of paper related to the plane. This includes:

Organize everything chronologically. Put the logs in order by date. Make a list of all the documents you have so nothing gets missed. If you have digital scans of the maintenance records, even better. Many appraisers prefer to review documents electronically first.

Be honest about any problems. If something doesn't work, tell the appraiser upfront. If there's damage history, disclose it with full documentation. Trying to hide issues never works and destroys trust. Transparency actually helps your value because it shows you're trustworthy.

Clean the plane inside and out. First impressions matter. A dirty, cluttered plane suggests poor care. A clean one suggests an owner who pays attention to details.

Make sure the appraiser can access everything. If the plane is in a hangar, have the keys ready. If panels need to be opened, make sure you have the tools. Time is money for appraisers, and making their job harder doesn't help you.

For Buyers

Your job is simpler but just as important. Request everything from the seller:

Read the appraisal report carefully when you get it. Don't just flip to the final number. Look at the details. What adjustments did the appraiser make? Why? What concerns did they note?

Use the report in your negotiations. If the appraisal comes in lower than the asking price, you have professional backup for offering less. If it comes in higher, you know you're getting a good deal.

When to Get an Appraisal vs. a Pre-Buy Inspection

People often confuse these two things, but they serve totally different purposes. You might need both, and understanding the difference saves you from making expensive mistakes.

An aircraft appraisal answers one question: What is this plane worth? The appraiser looks at records, market data, and condition to give you a dollar amount. That's their job - to tell you the fair market value.

A pre-buy inspection answers a different question: Is this plane safe and airworthy? A mechanic (usually an A&P or IA) physically inspects the plane to find mechanical problems, safety issues, and upcoming maintenance needs. They're looking for reasons you might not want to buy it or things you'll need to fix.

Here's a simple way to remember it: Appraisal = money question. Pre-buy = safety question.

What an appraisal includes:

What a pre-buy inspection includes:

The costs are similar (both around $2,000-$4,000 for most planes), but you're paying for different expertise. An appraiser might not be a mechanic. A mechanic isn't trained in aircraft valuation.

For most purchases, you want both. Get the appraisal first to make sure the price makes sense. If the numbers work, then do the pre-buy inspection to make sure the plane is actually safe to fly.

Some people try to skip the appraisal and just do a pre-buy. Big mistake. The mechanic might say "everything looks good mechanically," but that doesn't mean you're paying a fair price. You could be overpaying by $30,000 and not know it.

Common Mistakes People Make

Let's talk about where people go wrong. These mistakes cost thousands of dollars, and they're all avoidable.

Mistake #1: Trusting online estimates alone

We covered this earlier, but it bears repeating. Looking up your plane in Vref or Bluebook gives you a starting point. That's it. Making a decision based only on those numbers is like buying a house because Zillow says it's worth $300,000. You need someone to actually look at the house, right? Same with planes.

Mistake #2: Using the wrong type of appraisal

Some people try to save money by getting a desktop aircraft appraisal when they really need a physical inspection. Then the bank rejects it, or problems show up later that should have been caught. Match the appraisal type to your situation. Expensive jet? Get the physical inspection. Simple aircraft for personal use? Desktop might work fine.

Mistake #3: Skipping appraisals on "good deals"

Here's how this goes: "The plane is priced so low, I don't need an appraisal. I'm already getting a steal!" That's exactly when you need one most. Why is it priced so low? There might be a good reason (motivated seller, quick sale needed), or there might be hidden problems. An appraisal for $3,000 could save you from a $50,000 surprise.

Mistake #4: Not checking appraiser credentials

Your neighbor's friend's cousin used to work on planes and says he can appraise yours for $500. Don't do it. Banks won't accept it. Insurance companies won't accept it. And if something goes wrong, you have no recourse. Spend the money on a certified professional with ASA or PAAO credentials.

Mistake #5: Ignoring the report's details

People get the appraisal report, look at the final number, and throw the rest away. Read the whole thing! The appraiser's notes tell you important stuff about the plane's condition, upcoming costs, and why they valued it the way they did. That information is gold when you're deciding whether to buy or when you're negotiating.

Mistake #6: Waiting too long

Get your appraisal early in the process, not at the last minute. If you wait until the day before closing and the appraisal comes back low, now what? You've wasted everyone's time and might lose the plane to another buyer. Do your homework early.

Making Your Final Decision

You've got all the information now. You've hired a good aircraft appraiser. You've received the report. Now comes the part where you actually make the call.

If you're buying, compare the appraisal value to the asking price. Here's how to think about it:

The appraisal also tells you about upcoming costs. Maybe the aircraft is priced fairly, but it needs $15,000 in maintenance in the next six months. Factor that into your decision. Can you afford both the purchase price and the upcoming work?

If you're selling, the appraisal helps you set a realistic asking price. Price it too high and it sits on the market forever. Price it too low and you lose money. The appraisal finds the sweet spot where serious buyers will pay attention.

Use the report in your listing. "Professionally appraised at $X" gives buyers confidence. They know you're serious and the price is backed by an expert opinion, not just wishful thinking.

Here's the bottom line: An appraisal takes the guesswork out of one of the biggest purchases or sales you'll ever make. It's data you can trust when everything else is uncertain. That peace of mind is worth every penny you spent on it.

Conclusion

Getting an aircraft appraisal before you buy or sell is one of the smartest moves you can make in aviation. It protects your money, gives you confidence, and provides hard facts when you need them most. Whether you choose a simple price check, a desktop review, or a full physical inspection, make sure you're working with a certified professional who knows what they're doing. The few thousand dollars you spend now could save you from fifty-thousand-dollar mistakes later.

Want to make your aircraft transaction with confidence? Visit Flying411 for expert guidance on aircraft buying, selling, and ownership. Our team connects you with certified appraisers and provides the resources you need to make informed decisions in today's aviation market.

Frequently Asked Questions

How long does an aircraft appraisal stay valid?

Most appraisals are considered valid for 90 to 180 days depending on the market conditions and the lender's requirements. After that period, values can change significantly based on market fluctuations, additional flight hours, or maintenance events. If you're financing, your bank might require an updated appraisal if the original is older than three months by closing time.

Can I appraise my own aircraft for insurance purposes?

While you can estimate your aircraft's value, insurance companies typically require a professional appraisal from a certified appraiser for agreed-value policies, especially for aircraft worth over $100,000. Self-appraisals aren't accepted because they lack the objectivity and documentation that insurers need. However, you can use pricing guides like Vref or Bluebook for rough estimates when shopping for coverage.

What's the difference between retail value and wholesale value in an appraisal?

Retail value is what an individual buyer would pay when purchasing from a dealer or private seller in normal market conditions. Wholesale value is what a dealer would pay to acquire the aircraft for resale, typically 10-20% lower than retail. Appraisals usually focus on retail value unless you specifically request wholesale value for tax or trade-in purposes.

Do modifications and upgrades always increase aircraft value?

Not always. While certain upgrades like modern avionics, engine overhauls, or interior refurbishment can add value, they typically return only 50-70% of their installation cost. Some modifications might actually hurt value if they're unusual or limit the buyer pool. The best upgrades for value are those that improve safety, reduce maintenance costs, or are widely desired in the market.

What happens if the appraisal comes in lower than what I owe on my aircraft loan?

This situation is called being "upside down" on your loan. You'll need to either bring cash to closing to cover the difference, negotiate with your lender for a short sale, or wait until you can pay down the loan to match the aircraft's value. This is why it's important to get an appraisal before refinancing or if you're considering selling an aircraft you still owe money on.