Alan Lance is a Personal Property Appraiser  

Alan offers 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, as well as involved with training and mentoring new appraisers. Alan can help with understanding aviation equipment value. All aircraft and aviation equipment have some value. With his help clients are able to determine the equipment value by developing a proper approach, determine its best and highest use and then reporting that value in a well written certified report.

Services include.

• Valuing aircraft that are in airworthy condition or not, aviation related equipment operating or not.

• Aviation parts inventories damaged or not. For insurance value adjustment for clients and or claims. Donations values for tax purposes.

• Market value that represents current, future and or historical.  Diminution values representing market ructions. 

• Legal value dispute resolutions.

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  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. 

• Clients looking for the actual asset value in real time.

  • Can see the changing market and the many factors that reflect value of the specific asset. The clients receive an opinion of value based on experience, a thorough examination of the specific asset and it documentation that can be justified.

  • Receive 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 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, or inventory 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 provide 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.