Aircraft & Jets
Maintenance accounts for a major portion of the cost of ownership. An aircraft due for a major overhaul is worth considerably less than one recently overhauled. Aircraft with a damage history have less value than a plane with a clean history. The appraisal process fairly and objectively assesses the value of components requiring routine maintenance and damage history.
Not only are there thousands of avionics types, manufactures, and model combinations but they differ widely in value. Consequently avionics have a substantial impact on the aircrafts value. It is not uncommon for the value of avionics from one aircraft to another to differ by $100,000 or more. Failure to consider the avionics would be a major error.
Quality of exterior finish:
Not only affects how the aircraft looks, it affect the aircraft's value. Paint quality not only affects appearance but aircraft performance as well. Variation here can be extreme, and can significantly affect value. Again, the appraisal process does this objectively and fairly.
What is the engine worth:
The engine is the most critical part of the aircraft, ultimately requiring routine maintenance and overhauls, engines are important and usually represent a large percentage of the value of the aircraft. Two of the same model airplane may have different engines. The appraisal process utilizes Vref's database of thousands of engine configurations and overhaul costs together with the current maintenance status of the planes engines to assess the engines contribution to the total value of the aircraft.