Midwest Aircraft Data for the program is upgraded monthly by researching lending institutions
as to actual sales prices, (the NAAA is the only organization of its kind that is privy to this
information) and the appraisals of the NAAA associates. Avionics and other systems are
researched as to value, in all there are over 140,000 pieces of data reviewed and/or renewed
every month. The program is then delivered to all appraisers to be used at the beginning of
the following month, so there is never a question of the accuracy of a NAAA appraisal. The
following is a brief outline of the program's versatility.
As the information is entered into the program, the aircraft is electronically disassembled and
then reassembled using information collected by the appraiser during the physical inspection.
The program then generates the "Green Airframe Value" Then adds back in the avionics and
all other systems values to arrive at the "Fair Market Value".
During the physical inspection the appraiser grades the airframe, paint, interior, and deicing
equipment using exacting NAAA guidelines. The grading is on a 1-10 basis; each number
grade directly affects the appraised value of the aircraft when entered into the computer
EACH OF THE ITEMS LISTED BELOW AFFECT THE VALUE OF THE AIRCRAFT:
• Airframe total time
• Engine status (TBO, New, OH, Repair etc.) and residual value.
• Propeller status and residual value.
• Airframe and Engine Modifications
• Avionics are cataloged and valued.
• De-ice equipment condition and value.
• All systems and instrumentation is inventoried and valued.
• The appraiser then generates the report in which any items that may be deemed
important to the client is mentioned in detail.