Need a Jet Appraisal?

The business aircraft market is ever changing. What does this mean for you, the aircraft owner? If you are interested in monitoring the value of your aircraft, whether for financing, refinancing, or sale—or to verify hull value for insurance coverage, you will need to have your aircraft appraised by an ASA Certified Appraiser. This will ensure that you have the most accurate and lender-acceptable valuation.

With over 35 years of business aviation expertise, we have the knowledge to provide you with the most accurate jet appraisal.

Certified aircraft appraisal services and valuations for jets, helicopters and jet props

After the savings and loan crisis in the 1980s, and again in 2008, the banking industry responded with new rules and additional safeguards for better risk management. One of the most significant changes involves aircraft appraisals.

Prior to 2008, a simple market valuation by a resale broker, often with just a quick look at the current edition of the Aircraft Blue Book, was sufficient to secure as much as a 90% loan-to-value ratio for a pre-owned aircraft. That is no longer so. The lender is required to have a certified appraisal. Today, most banks, leasing companies, and insurance underwriters require that all loan collateral, including business jets, have an aircraft valuation performed by a qualified, certified appraiser before financing is approved. Those appraisers must comply with the Uniform Standards of Professional Appraisal Practice (USPAP), which was created in 1989 by the Appraisal Foundation, and is the generally accepted standard in Canada and Mexico as well as the U.S.. The ASA’s Machinery and Technical Specialties division offers the only program to train and certify business aircraft appraisers.

Click on a question to get the answer.

How long will my appraisal take?
How much is an appraisal?
What are the lender requirements?
What if the aircraft has damage?
How long will my appraisal take?

Expect an appraisal to take about one week, with the physical inspection process usually taking one full day on-site, with the remaining time reviewing records. The appraiser will conduct a systematic inspection of the interior and the exterior of the aircraft including: engine, airframe, avionics, instrumentation, and other systems; as well as provide a methodical review of your aircraft’s flight and maintenance log books, FAA registration, title, and owner’s documentation. We avoid “desktop only” appraisals because the inspection and review of the records is extremely important. The desktop version of an aircraft appraisal is likely not a USPAP Certified Appraisal.

How much is an appraisal?

The average cost of a Certified Business Jet Appraisal is between $3,500 and $7,500 depending on the project, plus expenses. Be aware however that a standard appraisal is not the same as a pre-buy inspection for purchase, which can run between $10,000–$50,000  depending on the size and scope of the work. The USPAP Certified Value is a reliable opinion of value.

What are the lender requirements?

Rules for lending have changed dramatically in the past six years. If you have not been in the market recently, know that a proper appraisal will ensure that you secure the right equipment at the right price.

What if the aircraft has damage?

If the aircraft has encountered an event that requires the insurance to come in and pay for the damage it may very well impact value. Without an ASA Accredited Senior Appraiser looking at the repair, one may never know if the claim or work will impact the value. We are experts at looking at all types of repairs and how it was repaired to determine if a diminution of value will occur. If appraising a damaged aircraft, the cost of he appraisal may vary.

Our Citation was extensively damaged. We needed an expert appraiser, Bloom understands the diminution value issues and provided a comprehensive appraisal report. we’re very satisfied with the results!

–EVP California Car Dealer

Steven Bloom has earned the Aircraft Specialty Accreditation by completing a rigorous curriculum and peer evaluation. ASA-accredited appraisers must adhere to the professional standards set forth by ASA’s Code of Ethics and Principles of Appraisal Practice, and well as USPAP (in North America), or the International Valuation Standard elsewhere in the world. The two levels of ASA certification, Accredited Member and Accredited Senior Appraiser, are based on the number of years of appraisal experience, with continuing education courses required to hold either accreditation. Steven Bloom is an Accredited Senior Appraiser.

Contact Bloom Business Jets to have your jet or aircraft appraised today

Contact Bloom Business Jets

Let Bloom Business Jets introduce you to the flexibility, privacy and increased security of private aviation. With more than 35 years of experience, our professional staff is your trusted aviation resource.

Call: (855) 256-6653 or (303) 946-9105 • Email: info@mybusinessjet.com

…or ask us a quick question via chat or by filling out this form.

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