"Vref" Aircraft Valuation

Post by **GAHorn** » Fri Apr 06, 2007 3:39 pm

I just performed a Vref (appraisal software brand-name) evaluaton/valuation of my aircraft. I believe their software is pitifully inaccurate.
According to them, a 1953 C-170-B with paint/interior condition rated "7" with a single "nav/com" average value is $30K. Their software allows adding a few exotic avionics pkgs, but ignore most common equipment, including txdrs/encoders, etc. (Perhaps they consider them standard, since most airplanes have them. They also do not specify the particular nav/com installed...a serious error in my view.)
They use $10/hr for engine time and an average ovhl value of the standard engine of $19K, both of which are probably correct. But they only add $5K in value for a 180 hp engine conversion.
I believe even a poor condition B model will bring $30K these days. My aircraft was valued at $32.5 according to their system, even if I calculate lower than their standard TSMOH (750 instead of 900) and if I add the equivalent of undepreciated $4K of additional equipment. (How can that be? If a standard, average airplane is worth $30K, and my airplane has less engine time but $4K more equipment,...then it should calculate $1500 additional for the engine and be worth $5500 more than the average!) I value it at $55K, and have turned down a serious, unsolicited, offer of $60K.
I cannot recommend the current version of Vref (unless you are a buyer and want to use it as a bargaining tool.)

Post by **Bruce Fenstermacher** » Fri Apr 06, 2007 4:30 pm

Perhaps the RED color had something to do with the low price.

Post by **GAHorn** » Fri Apr 06, 2007 4:32 pm

N9149A wrote:Perhaps the RED color had something to do with the low price.

OOOhhhhhh!!! You're RIGHT! I forgot! Their software doesn't address color and didn't let me get the additional value!!!!

(In a more serous vein,...I actually accepted their "7" condition, although that is suspect anyway. Most folks grade their aircraft condition inaccurately. I simply added $4K and figured it'd take care of things. Their software is disappointing. Trade A Plane has another version that seemed to work better the last time I used it.)

CraigH · Post by **CraigH** » Fri Apr 06, 2007 5:19 pm

Yep, on older classic aircraft Vref sucks.