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Has anyone ever used the AOPA Aircraft Valuation Service V Ref?? I have used it a couple of times to see how close the asking price of a 150 was to the AOPA estimate. I have found the AOPA estimate to always be about $5000 lower than what appears to be a reasonable sellers asking price. The estimate also states that this price would be even lower if being sold to a dealer.The only reason I find for the lower value is that any hours close to TBO is a big deduction.Anyone know what the other reasons would be??

I used what is likely the same source from the COPA site (Canadian Owners and Pilots).

They evaluated the plane at $4000 less than what I thought was market value for THAT PARTICULAR AIRCRAFT.

The only reason that they gave that may account for the difference was that the aircraft that were sold similar to the one I was asking for were in worse condition.

AOPA uses the VREF evaluation formulas, which are primarily used by the insurance industry. If you've ever insured an airplane through AOPA you probably have discovered that they want to insure your airplane for 10-25% less than you paid for it. This is especially true of modified airplanes like 150HP conversions, which bring a premium price in the marketplace, but are essentially valued the same as stock airplanes by VREF.

It's my OPINION that VREF is designed to aim $5K-$10K low to avoid a sort of artificial inflation that owners commonly have, that is, you assume that the airplane is roughly worth what you have in it, when in reality it is usually worth a little less. (Usually due to the declining value of your avionics, at least in the case of $75K plus airplanes.)

The Problem with VREF is (again my opinion)that their slightly lowball approach makes more sense when applied to a $100K-$300K airplane like a Mooney, Bonanza, Maybe a C210 or twin. Here's how I see the math. Say you have a $150K Bonanza, reduce the value by $10K that's only about a 7% reduction. Who would complain about that? Now take your $25K C150, and reduce it's value by $5K, whoops, we've lost 20%.

I just pulled a Vref on my plane through AOPA. I also pulled one through Trade-A-Plane using the NAAA evaluator. I do this after each annual to see a value trend in my plane over the years.

The difference between the two was about $800, with the NAAA being the lowest.

Economics dictate what you will sell it for (supply vs demand), and the buyer almost always believes it is worth more than the seller believes it is worth.

Would I sell my plane for what values they gave? Not today I wouldn't. Not with Clinton so close!

This thread is interesting, a valuation program is really good,, so let's flip this to a "auto blue book". Anyone always only pay just the "blue book" price? That part only works when you have a trade in,, try buying the same thing the next day. So, to me the single biggest issue is,, it's not Vref,, it's the lack of pilots looking to buy,, Lack of pilots being turned out, to much legal stuff to contend with, I suspect if there was a big demand from buyers, airplane valuations would go up. Interesting that here, buyers only want to pay based of a valuation. So, not that I'm selling, but if I was, I'd set a price that I would expect to get for my plane, and the ones that would like to get it for pennies on the dollar,, no big deal,, go find another that is lower valued. Does this work,, yes if you have a very nice plane,, if you have an "average plane" well, don't expect to get more for it. When I sold my 172,, and I'd spent a lot into it to get it fixed up to my expectations, I set a price that was high for a 172,, and would you believe because it was known that it was for sale, 3 people started making me offers that were higher then my starting price. I suspect that if it had of been "average to the available 172's" folks would of tried to offer me less,, at that time, the the Vref was fairly low,,,,

Thanks for the information regarding this issue. It seem like airplane pricing is all over the place. I think it is best to forget about what may/may not come along that could be a better deal,or one will never sleep too well. Best to have a good pre-buy done on a plane you like at a price you are comfortable with.

See you all in Clinton.I was able to fly a 152 the last two years to the big event. That plane is no longer available. Hope I find something soon or I will be a drive in this year..
Steve

Hi, Steve. I loved your "Hi Fillippy" on the DVD! Laughed pretty good on your nickel!!!

Anyway, good to see you posting here. You'd better make a habit of it. And I really do hope to see you in Clinton!

Gary;
I'll be there. Look forward to listening to your exceptional musical talents.
Looks like I will have to be a drive in this year.
Flew the 152 to Omaha today. What a great flight and weather, little bumpy at 5500. Can't beat the 150/152 for pure enjoyment.Don't know how I am going to manage being birdless come July 1. Good thing Clinton will be only a couple weeks away. I'll need to be back around the little birds.
See ya all in in Clinton..
Steve

OK, Steve we are here to help. You can't go through life planeless. What are you looking for? Ames to Clinton is a two cup of coffee drive but only one cup by air (ok 1/2cup) counting the spill from turbulance. There are 2 for sale near me that I know of right now. Free delivery to Ames if you take me up to Clear Lake.

Thanks Dale;
I have been looking at a couple of 150/152s close by also.
Since I sold my Cherokee 180 five years ago. Renting the 152 has been pretty affordable flying without all of the upkeep.
I am getting close to needing another plane to keep me busy and out of my wife's hair.
See you in Clinton.
Steve