There is a noticeable spike in used aircraft prices, and nobody can really offer an explanation why, other than it being a COVID-19 thing. Whatever is driving the feeding frenzy, things have never been good for sellers, but if you’re a buyer financing a purchase, the appraisal process may be falling short, which could cost you more money in the long run.
To find out what’s going on we reached out to Mike Simmons, our go-to veteran aircraft evaluator and himself an aircraft owner. As he points out, there’s a right and wrong way to appraise an aircraft. Herewith is his current report.