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. Aircraft Valuation can be evaluated using do many parameters as discussed below.
First of all, air frame hours and the age. While an aircraft flies in the sky, each hour there is a loss of a certain amount of its value. While that happens, the aircraft grows smaller, and its value subsequently goes down. This can be identified with the total number of hours flown against the overall fleet average. So from the hours in the sky, you can easily use that to value any plane. The first thing you can do is to determine the air frame hours as well as the age so as to put the right price.
Consider the installed things. 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. It is really good to check out these things because not all aircraft will have the same, so depending on the findings you can know how well to price it. Consider engine hours. Very critical because a plane that goes far away for long hours will not charge the same as one that goes for some few hours before it lands.
As if that is not enough, check the records and the airworthiness directives. Normally, the records are very helpful especially when it comes to airworthiness directives and the maintenance needs. We have so many things that the records have, for instance, the purchaser needs to see the airworthiness certificate, the balance data, the weight so as to know what to do. The above things must be available; otherwise the value of the plane goes down.
The inside of the aircraft has an impact on its value. 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. Check with the history to know how well to value the aircraft. Aircraft valuation would only be successful with such things put into mind.