Windsock aircraft valuation tool

[JimNelson]

If you're an AOPA member you have free access to Windsock, what seems to be a pretty thorough aircraft valuation tool: https://windsock.ai/blog/aopa-selects-w ... on-partner. AOPA members get 12 free valuations each year. (I am not associated with Windsock and an AOPA member.) Just for grins and to make sure that I have enough insurance on my 170 I entered all the data and got a surprisingly detailed valuation report. Their value is about 30% higher than what I have it insured for.

The value seems pretty high, but kind of in line with the more expensive 170s on Trade a Plane. If anyone else gives it a try, it would be interesting to hear what you think. I haven't tried any of their other services.

[GAHorn]

Thanks for posting this.

There have been several “aircraft appraisal” services and “appraisers” over the years.** The majority of them claim to “base” their valuations on recent aircraft sales…and that may be true. The problem with that approach is the myriad differences between individual aircraft (no two are the same..therefore “comparables” are virtually non-existent)… Plus the majority of aircraft “sales” are between private individuals and Simply Not Reported at all…. so the database is too small to be truly useful.

Windsock…as you’ve noted… is related to the insurance industry. Aircraft insurance is usually “stated value” or “Insured value”…. In other words, my airplane is insured for whatever-amount I choose and am able to convince my underwriter or agent to cover. Since there are no two aircraft that are “comparable”……The loss of the airplane is paid-off at it’s policy-valuiation….not it’s replacement value because there is NO actual replacement aircraft at all….much less on the market for-sale at the time of loss.

Windsock appraisles are often observed to be somewhat higher than what pilots and owners previously thought the aircraft was worth…. for a reason: Windsock is directed at Selling Insurance. If an owner is convinced his airplane is worth more…he will be more willing to pay a higher premium.

An example of how such appraisals can be conflicting: A seller may offer his airplane with “dual Glide Slope” ..which seems to be a big “Plus”.
But the fact the dual-GS is two King KT-170Bs….. is not necessarily a “plus” when it’s realized they are almost unsupportable. (and they will require several thou$and$ to Remove and Replace with something else. Appraisals don’t “detract” from equipment lists in a realistic fashion.)

However, in the absence of a more-comparable tool…. it’s the type of “appraisal” available to us…and can be quite useful.

Thanks again for posting.

** About a decade ago I was asked by one of our then-Members to come to his airfield and provide insurance-require recurrent training during test-flight of his 170 that he’d spent a couple years restoring and rebuilding. We flew the highly-modified airplane and found a few defects which he intended to correct… that airplane had so many “mods” that had been performed in such unusual ways….all signed off by himself. (He was an A&P/AI) (To give a “flavor” of the airplane condition….one of the mods was a bag-door using common kitchen-cabinet hardware for hinges rather than any existing bag-door STC.) I signed his logbook for a “recurrency” training period / flight-review ….and returned home.

About a month later he contacted me again, asking me to produce an “Aircraft Appraisal” of his airplane…and also to include spare engines, etc he had in his hangar… which he was attempting to Insure. His underwriter wanted a “Written Appraised Value”…and he thought that I would be a credible source, I suppose. He offered his own opinion of what it was all worth… (well into six figures)…. for a suggestion, I suppose.
When I asked him why he was having diffuculty demonstrating to his insurance-agent that same valuation…. he responded, “Yeah… I pointed out to him I Was a “Certified Aircraft Appraiser” and faxed a copy of my POAA Appraiser Certificate…. but they insist that I have someone else perform the Valuatio.”….(or word to that effect.)

I asked him to send me HIS completed “Appraisal-Form” for my reference. When it arrived with the blocks filled out…. I was filled with mirth. I never responded. It was the wildest inflated numbers I’d ever seen. I think that may be why I never got a Xmas card from him again.

I am posting this in support of my own personal opinion: There is no such thing in comparison as a legitimate aircraft appraiser in the sense of real-estate-appraisers (MAI, etc.). Caveat emptor.

VREF, “Blue Book” and other such sources are helpful, perhaps, but should be used “with a grain of salt”. IMO.

[JimNelson]

Thank you for your insights!! I never considered that the appraisal would be tied to me buying more insurance. Pretty sneaky! But the always selected "would you like to be connected to a broker or insurance agent" should have been a pretty big clue. Another clue might be that you need to select why you're doing the valuation, "buying, selling, checking value, ..." before it will generate a value. It would be interesting to check if the value changes based on that selection.

Anyway, you get what you pay for. It's another tool in the toolbox. Thanks again for your insights!