Vref--Good Tool or Waste of Time

MikeAlfa

MikeAlfa

Filing Flight Plan
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Feb 7, 2017
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MikeAlpha
Hey guys. Anyone have any luck using AOPAs Vref tool for aircraft appraisal? So far it seems to be somewhat close to the numbers out there, but it looks like you have to tweek it a bit here and there as it leave a lot of parameters out of the equation. Thanks.
 
Vref was a joke when I sold, no where near market and when I bought, I used a broker. It was priced 15% less than Vref and all parties were happy.

Short answer....... it's a crescent wrench when you really need a hammer.
 
Unit74 said:
Vref was a joke when I sold, no where near market and when I bought, I used a broker. It was priced 15% less than Vref and all parties were happy.
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Agreed.

AOPA Vref is a broad brush. Nice to know, but not very helpful.

VrefOnline (paid service) was a lot closer and actually helpful. But there are variables you can play with to take into account condition, maintenance, deducts for things you've discovered, and that gets you fairly close to a reasonable price.

In the end, you'll want to look at what the market is for the aircraft you want, take into account how long it's been listed, and make an appropriate offer. That approach worked well in my situation and I was able to acquire an aircraft at a VERY fair price.
 
Vref numbers do not reflect real world. Not sure how they calculate the values but I haven't heard anybody else say anything good about them.
 
Vref seems to be losing the ability to make accurate valuations,of used aircraft.
 
AggieMike88 said:
If you want a good and proper valuation, hire a well respected member of NAAA, https://www.plane-values.com/
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Thanks. I looked into those. They charge about $400 and I have none in my immediate area. Not the end of the world, but if you keep getting numbers that the seller doesn't want to hear, it could get pretty costly I imagine. I'm using Vref as a guide and then averaging all other similar aircraft that are also for sale to get an idea. Hope it works.
 
MikeAlfa said:
Thanks. I looked into those. They charge about $400 and I have none in my immediate area. Not the end of the world, but if you keep getting numbers that the seller doesn't want to hear, it could get pretty costly I imagine. I'm using Vref as a guide and then averaging all other similar aircraft that are also for sale to get an idea. Hope it works.
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I usually start tracking airplanes that I'm interested in a couple months before I'm ready to buy or sell. It's hard to find out the selling prices, but you can see which ones sell quickly and see the ones that sit......forever!!
 
Joke, some planes are over valued, some under, just gotta put in the effort and watch the market
 
I think Vref is a "nice try" and a decent starting point but the reason it doesn't work out is that it tries to put an objective value on so many subjective criteria. Across the board it's either a plus or a minus and in the real world some of those pluses and minuses are huge / tiny.

Just looking at engines alone it can't put an accurate value on the hangar queen with a low time engine that as MOH in 1992. It also can't put an accurate value on the near TBO engine that was flown regularly and treated with lots of love. As a matter of fact it's one reason I think planes near or at TBO are often great values / low risk. They're often tremendously undervalued.
 
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