Alan Lance is a Personal Property Appraiser 

Alan is offering value appraisal services for aircraft and aircraft related equipment in any condition. Owning, flying, and maintaining aircraft has been his passion for over 40 years. He has been offering aviation related value appraisal services for over 20 years. A senior appraiser with the ASA and the PAAO affords him a great deal of exposure in the fields. He is compliant with current USPAP guidelines, involved with training and mentoring new appraisers. 

Services include valuing aircraft that are airworthy condition or not, aviation related equipment operating or not. Aviation parts inventories damaged or not. Insurance value for adjustment and or claims. Donations for tax purposes. Market value that represents current, future and or historical.  Legal value dispute resolutions. All forms of aviation equipment have value and Alan can help clients determine the value, its best and highest use, and develop the approach that represents the proper value for many different situations

  An Appraisal is Different Things to Different People.

  • To the Buyer, the appraisal is an impartial professional opinion as to the value of the particular aircraft they are planning to purchase.  Further, the appraisal can assist in expediting the sale of the aircraft because the buyer and seller know the fair market value and relative condition of the aircraft through the independent appraisal.

  • To the Seller, the appraisal gives them the confidence of knowing the condition and the current fair market value of their aircraft.

  • To the Banker, the appraisal documents the value, and condition of the aircraft.  The appraisal also supports the banks collateral position in the aircraft loan.

  • To the insurance carriers, asset value is important to understand before and after claims.   

  • To Everyone, our appraisals are an impartial opinion of the value of an aircraft and or aircraft equipment preformed professionally with creditable results. This type of appraisal reporting has become the expected practice in the market today. Our written appraisal reports are prepared expertly, they represent our appraisers’ years of knowledge and understanding, they reflect the actual asset value in real time, they reflect the changing market and the many factors that add to or deduct from the specific asset value. The clients receive an opinion of value based upon a great deal of experience, an thorough examination of the specific asset and it documentation.  An opinion of value which is and can be justified.  An opinion of value made by a Certified, Recognized, Professional Aircraft Appraiser has its own value. A great deal of confidence is added to the market as a whole when trained professionals certify asset value.

  • Our Appraisers will:

    • Comply with the set out workscope between the appraiser and the client.

    • Be impartial and correct with conclusions.

    • Take full advantage of all available information related to the assignment.  

    • Present the details required to represent a believable value for conclusions.

    • Offer a well written believable report in a timely manner containing an opinion of value represented in US dollars that represents the asset within the guidelines of the workscope.  

 

What is the Purpose of an Appraisal?

 

  • To obtain a professional opinion of value on an aircraft or aircraft equipment.

  • To obtain a professional opinion of the value on an aircraft or aircraft equipment to be renovated or modified. (not airworthy)

  • An expert opinion of the value of an aircraft is useful as a prudent safeguard against excessive Tax Assessments, Capital Gains and other taxes.

  • Appraisals are used to verify Damage Claims resulting from fire, hail, windstorms, accidents and other disasters.

  • An appraisal may provide the basis for decision-making in the commitment of funds for acquisition.

  • Provides persuasive independent evidence of the condition of an aircraft.

  • Assist a prospective purchaser in obtaining financing or insurance.

  • Assist the financial institutions by substantiating the nature and value of the aircraft as it relates to collateral.

  • Assist the financial institution by supporting the Loan Portfolio for examination by the Loan Committee and/or Bank Examiner.

  • Distinguishes sellers aircraft from others that may be listed for sale. should reduce the time required to sell an aircraft by 50%.

 

How Much Will the Aircraft Appraisal Cost?

 

Fees will vary depending on the size of the aircraft and the length of time involved in completing analyses of all relevant data.

 

How long will it take to Complete the Report?

 

One must allow sufficient time for the appraiser to do a thorough job. The appraiser may spend a short time actually inspection the aircraft, but will spend considerable time researching data. The Certificate of Appraisal and Inspect Data Sheet Analysis of the Appraisal is issued after the physical inspection of the aircraft has been completed.

 

Standards of Professional Practice and Conduct.

 

Aircraft Appraisers are personal property appraisers that are held to the current revision of the Universal Standards of  Professional Appraisal Practices (USPAP) standards. These rigid standards dictate professional appraiser conduct for both real estate and personal property. 

 

Conclusion.

 

Personal property appraisers can provides a broad range of service to the Aviation Industry through its Professional Approach to Aircraft Valuations. Bankers, Insurers, Purchasers, Sellers, and owners will immediately recognize the value of an Independent Aircraft Appraisal.