There are a lot of variables when it comes to valuing an aircraft. Naturally the older an aircraft is or the higher the hours, the lower the value of the aircraft will be. There are also supply and demand issues which can affect an aircraft’s value and this was seen during the Covid-19 pandemic. The pandemic reduced new aircraft production, which forced anybody looking to upgrade their existing aircraft to purchase a pre-owned one. This in turn reduced the number of aircraft for sale on the market. Since aircraft were still in high demand, this turned the aircraft sales market into a seller’s market and the price of some pre-owned aircraft either stabilised or went-up in value. Aircraft upgrades generally have either a stabilising or a positive effect on aircraft value (depending on the upgrades) and upgraded interiors and avionics are a very noticeable attribute among older aircraft. Mission-specific modifications such as aerial survey equipment can also affect the price buyers are willing to pay, however this ultimately depends on what reason the buyer is purchasing the aircraft for. Some modifications actually improve an aircraft’s overall performance (such as Blackhawk upgrades) and this will generally have a positive effect on an aircraft’s value. Legislation has been known to affect aircraft pricing and this has been seen with several aircraft types, when new laws were introduced. There are strict environmental laws for aircraft flying within Europe and this prevented a lot of the older Russian commercial jet aircraft (as well as others), from flying to certain airports and this naturally has an impact on both buyer motivation and aircraft asking price. The value of older aircraft can also drop significantly when new airspace laws are introduced. An example of this is when the ADS-B Out Rule came into effect, as this prevented any non-ADS-B equipped aircraft from flying in certain airspace classifications. It was simply too expensive to retrofit certain lower value aircraft with the necessary modifications, so a lot of older aircraft ended-up having to be parted-out or sold as salvage aircraft. Interior and Paint Condition also affect an aircraft’s asking price in the same way it affects a car’s – the better the condition of the aircraft, the more people will be willing to pay. Approved Maintenance Programs (AMP) also affect the value of an aircraft, since these define the work required to keep an aircraft in an airworthy condition, thereby potentially saving the future owner a lot of money in maintenance costs. There are generally two types of cover – that offered by the manufacturer (OEM) and that offered by a third party company (such as Engine Assurance Program or JSSI). When picking your aircraft cover, it’s important you understand factors such as how many hours you’re expecting to fly and what level you’ll be covered for. Ultimately these programs are designed to provide peace of mind. An aircraft’s logbook can significantly affect an aircraft’s price and can be worth 30%-50% of an aircraft’s price. Without an aircraft logbook, you cannot tell what maintenance or remedial work has been carried-out on the airplane. For example the aircraft may have suffered a gear-up landing, however without logbooks it would be impossible to sell (presuming the repairs had all been made!) When buying an aircraft without a logbook, it may therefore be necessary to invest a significant amount of money inspecting each part of the aircraft, before it can become airworthy again. Other factors that affect an aircraft’s price include year of manufacture, equipment, inspection status and where the aircraft stands with its Time Between Overhaul (TBO) maintenance. An aircraft that has a fresh TBO is more likely to fetch a better price, since it should not require any further maintenance until the next TBO cycle comes around.