Data-Driven Valuations

Appraisal services are a core part of the Flight Level identity and a large portion of our operation. Our appraisers have worked with financiers, aircraft owners, tax professionals, and litigators nationwide and have developed a reputation for producing credible, defensible reports. The American Society of Appraisers (ASA) is the most respected appraisal organization in the world and Flight Level is proud to have 2 accredited ASA appraisers, out of only 63 worldwide. 

The reports our team produce strictly adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) appraisal development and reporting requirements, which is the foundation of appraisal practice in North America. Our team also exceeds the minimum continued education requirements set by the ASA annually because we understand the tremendous value that comes through staying on the cutting-edge.

Aircraft appraisals are so much more than a number on a page, it is an opportunity to educate the users of these reports about the market conditions and individual factors that create value. This objective guides everything we do.

Three Ways to Appraise

Desktop Appraisal

A desktop appraisal is ideal for a client that needs an appraisal quickly or for those who do not require the level of detail of an in-person inspection. A desktop appraisal is based upon information provided by the client, assumptions made by the appraiser, prevailing market conditions, and a variety of proprietary data-points. Our desktop appraisals comply with USPAP reporting standards. Desktop appraisals are beneficial for aircraft that are traded frequently, are in average condition, and have no damage history.

In-Person Appraisal

An in-person appraisal involves a physical inspection of the subject aircraft and any associated documents and logbooks. The appraiser documents the inspection process with pictures and notations in the appraisal report. While a desktop report relies on information provided by the client, an appraiser completing an in-person appraisal report certifies that through his/her due-diligence, the value derived was founded on information verified first-hand. This type of appraisal provides the client with exacting information on the subject aircraft, the market for the aircraft, records, and a value opinion in accordance with the intended use. These appraisals produce the most accurate appraisal report available from Flight Level Partners.

Appraisal Review

Appraisal review reports are requested to review the quality of another appraiser’s work. Flight Level Partner’s Senior Appraiser has completed the American Society of Appraiser’s Appraisal Review and Management 201/204 coursework and provides reviews using the standardized methodology accepted nationwide. Appraisal reviews are often requested to determine USPAP compliance and can be issued with or without an opinion of value, dependent on the needs of the client.


Email us to request an Appraisal

 

Cameron Tipton, ASA, ARM-MTS

cameron@flightlevel.co

ASA ID#114671

 

What is the American Society of Appraisers?

  • The ASA is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialties. The ASA founded the Appraisal Foundation to set the generally accepted and recognized standards of professional appraisal practice in the United States. The Appraisal Foundation was recognized by Congress as the source of Appraisal Standards and Appraiser Qualifications

  • The ASA requires its accredited appraisers to undergo 120 hours of rigorous graduate-level training and successfully pass 4 examinations. After the required coursework is complete the appraiser must present professional experience and work examples that are reviewed by an international board of examiners.

  • The ASA requires its members to possess 2 years of full-time verifiable appraisal experience in the specialty field for the Accredited Member (AM) designation or 5 years of full-time verifiable appraisal experience for the Accredited Senior Appraiser (ASA) designation. The Appraiser must also have a bachelors level college degree.

  • The ASA has a strict continued-education program for all of its accredited members. This program requires appraisers to attend 20 hours of appraisal-specific coursework each year and to maintain currency with the latest edition of USPAP by attending an update course every 2 years.

 
ASA, American Society of Appraisers
 

What does it mean to have a USPAP compliant Report?

The Uniform Standards for Professional Appraisal Practice (USPAP) was created by the Appraisal Foundation (founded by the ASA) in order to establish a standard of procedural and ethical guidelines to which appraisers across all disciplines should comply. USPAP is universally accepted in North America as the gold standard of appraisal practice. The ASA requires its member to comply with USPAP when practicing in North America. Lenders, litigators, tax professionals, and consumers should understand that without compliance with USPAP the appraisal may not be credible and absolutely will not carry the same “weight” as a report that is certified to comply with USPAP.


How long does an appraisal take?

The easiest answer is, it depends. Our goal is to complete desktop appraisals within 7 business days and we prioritize lenders that are working on tight financing schedules. For in-person assignments, an appraiser will visit the asset within 2 weeks of engagement and will complete the report within 7 business days after the field inspection. Individual timelines can vary depending on the scope of the assignment, complexity of the asset, or availability of the appraisers. Our team will always try to work within your time constraints and we can provide a realistic timeline during the engagement process.


When do I need an appraisal versus using a price guide?

Price guides do a good job at following high-level trends and are useful to consumers and appraisers, alike. A price guide is never a substitute for an appraisal that focuses on a specific subject in the context of the market at a given point in time. Price guides are often tens to hundreds of thousands of dollars “off” of a properly calculated value conclusion. Price guides do not provide USPAP complaint reports and are not acceptable in financial or legal applications. For people interested in a “ballpark” estimate, a price guide may be sufficient. However, if you need a report you can rely-on, an appraisal is the only option.


Is a desktop appraisal as accurate as an in-person appraisal?

Yes, a desktop appraisal is just as reliable as an in-person appraisal, IF the data the appraiser receives is correct. During a desktop appraisal, the appraiser will request information from the client regarding the subject aircraft. The data the client provides will be the base of the value conclusion, so as long as the data is correct, the value will be also. In complex cases such as aircraft damage or donative property the appraiser may require an in-person appraisal in order to comply with USPAP.


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