30+ Years of Expertise
Setting The Standard in Aircraft Valuations and Consultation
Certified aircraft appraisers providing aviation consultancy services supporting all phases of an aircraft’s transaction.
What We Do
When we assign a value, we stand by it! Our aircraft appraisal process is designed to arrive at an accurate and impartial opinion of the value. Our opinion of value is substantiated and justified with defendable facts. They are supportable opinions of value, made by certified, recognized and respected professional aircraft appraisers.
Valuation
Appraisals
Our aircraft appraisal process is designed to arrive at an accurate and impartial opinion of the value. It's prepared by our team...
Legal Support
Services
Our firm is ready willing and able to support in your pre-trial litigation planning through to, at trial testimony...
Acquisitions
Consulting
Finding the right aircraft at the right price isn’t always as simple as it looks.Planes are complicated machines...
Aircraft Management
Services
Aeronautical Systems not only has the expertise to help you acquire the best aircraft to suit your needs but also...
About Us
As proud members of the business aviation community. We bring 30+ years of expertise as certified aircraft appraisers, specialists in damage (diminution) assessments, litigation support and technical consultants supporting all phases of an aircraft’s transaction.
Nina is a dynamic and results-oriented professional with 15 years of experience in all facets of managing complex projects...
Joe is President and CEO of Aeronautical Systems, headquartered in Miami Lakes, Florida, an accredited senior aircraft
Affiliations and Memberships
Testimonials
As ASA-certified appraisers, Joe and Randy deliver high-quality appraisals, meeting and exceeding the most stringent industry quality standards. I have worked with both Joe and Randy over many years, and I was always impressed with their authentic and tell-it-like-itis approach. Going beyond aircraft appraisals, Joe and Randy are well versed with litigation, bankruptcy, disposal and salvage for re-marketing and assessment, character
expert witness statements, aircraft inspections and more. Combine this broad experience with decades of practice, an extensive data portfolio from past projects and you are sure to receive a high-quality, in-depth and holistic analysis with the highest level of professionalism and integrity.
Throughout all our projects, Joe and Randy have always displayed high-character leadership, transparency and a consistent approach to the marketplace. They always go out of their way to get the job done, on time, cost-effectively, and right, the first time. They are masters at providing high value with his services, and I highly recommend them.
I highly recommend Joe, Randy and their firm for aircraft valuations and inspections. Both Joe and Randy are ASA certified appraiser, and consistently produce a work product that meets or exceeds the highest industry and banking standards. I have always found Joe and Randy to be forthright and candid in their valuation and condition assessments, presenting a well-researched, logical, and empirically-solid basis for their opinions. They complete work on time, and on budget. Joe and Randy are true professionals in every sense of the word. I highly value my relationship with both Joe and Randy as one of the “go to” people in our industry to bring clarity to challenging valuation assignments.
Joe and his team are a valuable resource we use often in managing our aircraft portfolio. I can’t compliment him and his teams technical expertise enough. Joe provides confidence when needing timely market intelligence, aircraft appraisals, inspections, record audits, and flight operations or aircraft management reviews. I highly recommend Joe as he has been a preferred partner for all things when needing help with managing our aircraft.
As a service to my clients, I maintain and regularly vet trusted resources such as appraisers and consultants with capabilities that will enhance my client’s experience. Joe and Randy not only fall into my very short list in appraisal work, as does their team, but also their engaging personalities and extremely highly skill level make them great expert witnesses and comforting client contact.
Over the years Aeronautical Systems and that of their work has been extremely useful and insightful. Their valuation work is highly detailed with excellent due diligence from sales comparison and adjustments to the subject. Response times have been very good and reports easy to follow for enhanced credibility. I look forward to working with you in the future as opportunity exists.
Having known Joe and Randy for more than two decades I regard them to be among the very most competent and accomplished professional appraisers in the field of business aviation. I would recommend them without reservation.
Joe and Randy are articulate and enthusiastic appraisers who are real experts when it comes to valuing business aircraft. They also are great company!
I had the pleasure of working with Joe and Randy at Aeronautical Systems for several years while I was providing aircraft finance at Wachovia. Above all else, they are knowledgeable and provided outstanding appraisal services for our company. They interacted regularly with our clients and did so in a professional manner that helped reflect positively on their company as well as ours. I would not hesitate to use Joe and Randy’s services once again and highly recommend their work.
Over the years, I have worked very closely with Joe and Aeronautical Systems on numerous aviation appraisal engagements. Joe is an extremely knowledgeable and energetic individual whose skill sets in the aviation industry are exemplary. During the engagements with Aeronautical Systems, Joe demonstrated a complete understanding of the timing, in concert with the delivery requirements needed to facilitate the assignments in a professional and expeditious fashion. Joe’s involvement in these engagements allowed for seamless execution.
It is with pleasure that I provide a professional recommendation for Joe, Randy and Aeronautical Systems. They are instrumental in the inspection and valuation of corporate aircraft.
I worked with Joe and Randy on many occasions over the years and their expertise’s were invaluable. Both Joe and Randy are extremely knowledgeable about the aviation industry and aircraft values in particular. They are very professional and have been great partners.
I have had the opportunity to work on many transactions with Joe and Randy spanning over 20 years, at SouthTrust Bank, Wachovia, and Wells Fargo. Joe and Randy have expansive knowledge in their fields and always work hard to accommodate the needs of their clients.
FAQ
- To the Buyer: the appraisal is an impartial professional opinion as to the value of the particular aircraft they are planning to purchase. Further, the appraisal can assist in
expediting the sale of the aircraft because the buyer and seller know the fair market value and relative condition of the aircraft through the independent appraisal. - To the Seller: the appraisal gives them the confidence of knowing the condition and the current fair market value of their aircraft.
- To the Banker: the appraisal documents the value and condition of the aircraft. The appraisal also supports the banks collateral position in the aircraft loan.
- To obtain a professional opinion of the current fair market value on an aircraft.
- To obtain a professional opinion of the value on an aircraft to be renovated or modified.
- An expert opinion of the value of an aircraft is useful as a prudent safeguard against excessive Tax Assessments, Capital Gains and other taxes.
- Appraisals are used to assess damage resulting from accidents, negligence, acts of
god and other disasters. - An appraisal may provide the basis for decision-making in the commitment of funds
for acquisition. - Provides persuasive independent evidence of the condition of an aircraft.
- Assist a prospective purchaser in obtaining financing or insurance.
- Assist the financial institutions by substantiating the nature and value of the aircraft as
it relates to collateral. - Assist the financial institution by supporting the Loan Portfolio for examination by the
Loan Committee and/or Bank Examiner. - Distinguishes sellers aircraft from others that may be listed for sale. Should reduce the
time required to sell an aircraft by 50%.
Trying to figure out what your airplane is worth can be mysterious for those who aren’t in the business of buying and selling aircraft on a daily basis. Many factors are taken into consideration to determine the market value of a pre-owned airplane. Some of these factors might include:
- Airframe Hours, Cycles (Landings) and Age
- An aircraft loses a certain amount from its value for every hour it flies over the fleet’s average. That per-hour reduction changes depending on the model and grows smaller as the aircraft ages. Though flying under the fleet average is good for other reasons, the market does not offer a similar advantage to aircraft values when the total number of hours flown is below the fleet’s average. Consequently, early in an aircraft’s lifecycle, total airframe hours have greater impact on an aircraft’s value. Years later, the age of the aircraft affects resale value more.
- Engine Hours and Cycles
- The closer an engine is to its recommended time between overhaul, the less its value. Equally important is a record of consistent use coupled with a good maintenance program.
- Installed, Upgraded or Modified Equipment
- The technology inside the aircraft can have a noticeable impact on values, good and bad. Some owners double the value of their older models by installing new avionics. Conversely, dated technology, including old air conditioning and aging deicing gear can bring down resale value because those systems are generally more expensive to maintain.
- Records Quality and Airworthiness Directives
- Complete records that show prompt responses to Airworthiness Directives and other maintenance needs increase an aircraft’s value. Buyers should review the aircraft’s airworthiness certificate, engine and airframe logbooks, aircraft equipment list, weight and balance data, placards and FAA-approved aircraft flight manual or owner’s handbook. Missing documents, pages or entries from aircraft logbooks may cause significant problems for the buyer and reduce the value of the aircraft.
- Paint and Interior Condition
- New paint jobs can increase the value of an aircraft, but buyers should be careful. The work could hide corrosion under the surface, which can negatively affect value. Interiors that are in good condition and properly fit also enhance the value of the aircraft. Even so, some owners still choose to update their aircraft’s interiors before they sell so that colors and patterns more closely match the latest trends. Choosing to do so can lessen the time the aircraft is on the market.
- Damage History
- A damage history will decrease the value of an aircraft. Buyers should consider the type of accident, nature of the damage, who repaired the damage and the degree to which the issue affected major components. Pre-purchase inspectors should closely scrutinize damage history to make sure it is properly repaired in accordance with applicable FAA regulations and recommended practices.
Some additional factors considered for the appraisal include:
- Days on Market
- Serial number
- Specific manufacture date
- Amount of time a plane model has spent on the market
- Number and nature of previous owners
- Inspection dates
- Type of usage (FAA Part 91 or Part 135 have different operational rules)
- Where the plane is currently located
- Where the plane has been flown
- Where the galley is located and serviced
- Where the lavatory is located, and if it can be serviced externally without running hoses down the aisle of the plane
- The condition of external paint
- Type and condition of the entertainment system
- Avionics features like a “heads up” display or synthetic vision
- Cabin management system
- Condition and type of Auxiliary Power Unit (APU)
- Maintenance Accrual Power-By-The-Hour (PBH) Programs
- ASA-accredited appraisers provide the best valuation expertise available on the market, and their appraisals provide unmatched credibility in all legal proceedings.
- ASA members earn their accreditations only after completing a rigorous evaluation process that requires years of study, dedication and commitment.
- ASA is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists. The society originated in 1936 and incorporated in 1952.
- ASA, along with other leading appraisal societies, 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.
- ASA Accredited appraisers follow both the professional standards set forth by the Appraisal Foundation and ASA’s own stringent Code of Ethics and Principles of Appraisal Practice.
The Uniform Standards of Professional Appraisal Practice (USPAP) are the generally accepted standards for professional appraisal practice in the United States. USPAP contains standards for all types of appraisal services including real property, personal property, business valuation and mass appraisal. The purpose of USPAP is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. USPAP was originally written in 1986-1987 by an appraisal profession Ad Hoc Committee and was donated to the Foundation in 1987.
The Financial Institutions Reform Recovery and Enforcement Act (FIRREA) of 1989 cites USPAP as the standard to be enforced by state real estate appraiser regulatory agencies. USPAP compliance is also required by professional appraiser associations, client groups and by dozens of federal, state and local agencies. USPAP is growing in acceptancethroughout the world. Many professional associations in North America, South America,
Europe and Asia have accepted USPAP as the standard of practice for their membership
Founded in 1936, the American Society of Appraisers (ASA) is the oldest and only major organization exclusively dedicated to serving appraisal professionals. ASA’s membership includes appraisal specialists in all types of property – valuing businesses, machinery and equipment, real property, personal property, and gems and jewelry. To earn the ASA designation, members go through a rigorous testing, training and evaluation process.
ASA is run by a Board of Governors made up of representatives from the disciplines and regions. In addition, ASA has two other affiliated organizations – our Educational Foundation and our Political Action Committee. ASA also has the ASA College of Fellows, which is comprised of Accredited Senior Appraisers who have been recognized by their peers and the College of Fellows for their contributions to ASA and the appraisal
profession.