There are a number of factors that affect the overall value of an aircraft. Working our way from the exterior to the interior of the aircraft, the age of your paint can significantly affect the value. Generally, the older the paint is the less value it brings. Accordingly, new paint can increase the value. The only potential pitfall with new paint is that you will need to ensure it is a good paint job and not covering up corrosion.
The time on the engines is important. The closer the engine times are to overhaul the less value they will have. Any gaps in usage without proper maintenance action will affect value negatively. A good maintenance program will help preserve the value.
It is important to maintain your interior to a high standard. If it is outdated and worn it will reflect poorly in the overall value. If you plan on selling your aircraft and have an older interior and want to get the most out of it, then it would be best to refurbish. Even equally important the aircraft will sell faster in most cases.
The more an aircraft is flown over the fleet average the more value is lost. The per hour reduction in value depends on the aircraft model and reduces as the aircraft ages. Unfortunately flying under the fleet average has little to no effect on increasing the value. As an aircraft age’s the less effect total time has on value. Age becomes more of an issue at this point.
Equipment installed will have a positive or negative effect on value. If an aircraft has older outdated avionics an upgrade could significantly increase the value. Alternatively, if the aircraft older equipment installed such as outdated deice equipment it will negatively affect the value.
The aircraft records are very important. When buying an aircraft, it is important to review the airframe and engine logbooks to ensure proper compliance with airworthiness directives and other required maintenance actions. Missing logbooks can cause a significant loss in value. Other items of importance to review will be the airworthiness certificate, pilot’s operating handbook, weight and balance data, and placards.
Damage history has the potential to decrease the value of the aircraft. When looking to buy an aircraft that has damage history it is very important to understand the type of damage you are dealing with, who repaired it, did it cause any damage to any major components. It is important to understand if the damage was repaired properly in accordance with best practices and FAA regulations. If an aircraft has damage history, it does not always have a major impact on value.
