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 Post subject: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 08:17 
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Joined: 10/21/16
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
As a professional aircraft appraiser, the common call I get from buyers or bankers is the typical question about an aircraft’s value and should they proceed forward with any further consideration of the aircraft in question - given that negotiated price or valuation. Of course, without getting a complete picture of the aircraft’s background, that type of question becomes difficult if not impossible to answer with any degree of credibility or reliability.

The underlying question is really less about value and more about “risk”. In other words, - What is my “risk” associated with traveling out to look at this aircraft, deposit funds for a down-payment or engage an appraiser only to find that the aircraft is not “as represented”? With a limited set of parameters and a valuation or asking price that appears suspect, what is the overall “risk” of proceeding versus moving on to the next aircraft? Valuation alone is just the tip of the iceberg when it comes to risk as there are a number of other factors to consider.

To address this need, the Professional Aircraft Appraisal Organization (PAAO) developed the Instant Aircraft Analyzer Tool for both professional and personal use. The tool analyzes a few basic parameters that are typically provided by the seller or available in most ads along with the asking price, an expected price or value (however that is determined). Then, using a proprietary analysis, the software examines the basic parameters provided along with the provided price/value and then identifies the risk along with market information that supports the risk assessment.

Try the software out for five days at no charge and see if the Instant Aircraft Analyzer doesn’t give you a more complete picture of the risk involved. I use some of this information in my own reports as the charts provide a more complete picture of the aircraft and I don't have to visit a number of sites to find the same information.

https://appraiseaplane.info/wp/2023/04/ ... -analyzer/

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 12:03 
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Joined: 12/10/07
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Location: Minneapolis, MN (KFCM)
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Username Protected wrote:
As a professional aircraft appraiser, the common call I get from buyers or bankers is the typical question about an aircraft’s value and should they proceed forward with any further consideration of the aircraft in question - given that negotiated price or valuation. Of course, without getting a complete picture of the aircraft’s background, that type of question becomes difficult if not impossible to answer with any degree of credibility or reliability.

The underlying question is really less about value and more about “risk”. In other words, - What is my “risk” associated with traveling out to look at this aircraft, deposit funds for a down-payment or engage an appraiser only to find that the aircraft is not “as represented”? With a limited set of parameters and a valuation or asking price that appears suspect, what is the overall “risk” of proceeding versus moving on to the next aircraft? Valuation alone is just the tip of the iceberg when it comes to risk as there are a number of other factors to consider.

To address this need, the Professional Aircraft Appraisal Organization (PAAO) developed the Instant Aircraft Analyzer Tool for both professional and personal use. The tool analyzes a few basic parameters that are typically provided by the seller or available in most ads along with the asking price, an expected price or value (however that is determined). Then, using a proprietary analysis, the software examines the basic parameters provided along with the provided price/value and then identifies the risk along with market information that supports the risk assessment.

Try the software out for five days at no charge and see if the Instant Aircraft Analyzer doesn’t give you a more complete picture of the risk involved. I use some of this information in my own reports as the charts provide a more complete picture of the aircraft and I don't have to visit a number of sites to find the same information.

https://appraiseaplane.info/wp/2023/04/ ... -analyzer/

If I sign up for the 5 day trial, what do I need to do so I don't get charged the $15 sign up fee?

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-lance

It's easier to fool people than to convince them that they have been fooled.


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 12:34 
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Joined: 10/21/16
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
You want to be sure that you cancel before the 5 day limit is exceeded.

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Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 12:47 
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Joined: 03/04/13
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Why not just track and trend planes on the market and figure a good price?

I have always wondered about people too busy to go to the prebuy and test flight and all, if they are too busy for that how they even have time to fly it if they get it


But interesting use of tech


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 13:29 
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Joined: 08/24/13
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Company: Aviation Tools / CCX
Location: KSMQ New Jersey
Aircraft: TBM700C2
Username Protected wrote:


Demand must be high for this tool. It just hangs for me at "We are creating your account, please wait."


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 13:38 
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Joined: 10/21/16
Posts: 513
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
The "hanging" may be a local machine issue but if you continue to run into problems, do not hesitate to report the problem.

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 14 May 2023, 14:06 
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Joined: 08/24/13
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Company: Aviation Tools / CCX
Location: KSMQ New Jersey
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Username Protected wrote:
The "hanging" may be a local machine issue but if you continue to run into problems, do not hesitate to report the problem.


It worked when I tried again


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 15 May 2023, 02:30 
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I tested this service and found it of limited use, to me at least.

Although the app requires a CC to register, it does not confirm receipt nor is there any facility to un-subscribe.

IMHO, not ready for prime-time.

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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 15 May 2023, 06:06 
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Joined: 08/24/13
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Company: Aviation Tools / CCX
Location: KSMQ New Jersey
Aircraft: TBM700C2
Username Protected wrote:
I tested this service and found it of limited use, to me at least.

Although the app requires a CC to register, it does not confirm receipt nor is there any facility to un-subscribe.

IMHO, not ready for prime-time.


It was a little wonky, but I did find the unsubscribe. Page navigation was very poor.

I did not find the results very helpful. For example, the engine choices for my plane were timed out, newly overhauled, or midtime. Mine is at 1300 hrs so that puts me where? (PT6A-64 TBO is 3500).


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 15 May 2023, 08:18 
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Joined: 10/21/16
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
This is good feedback and I appreciate the comments. I have forwarded the page navigation, confirmation request and so forth to the designer and the confirmations should be part of the process.

In regards to the usefulness or utility of the tool, it really depends on the objectives and expectations of the user. If, for example, the expectation is to put in parameters and have the software provide "a number", then any user will be disappointed. This is not a VALUATION tool. This software goes much further than that and there is a "help" document that explains the results. Several users had a better understanding and reset their expectations after reading that document.

In the case of the engine(s), we looked at three major stages in analyzing the overall "risk vs value" analysis. This is my opinion only but if the engine(s) had 75% or more of their life left, then I might consider them to be "freshly overhauled" for the purposes of this analysis. Others may put this figure closer to 90% or 85%. In the example of 1300 hours on a 3500 hour TBO, you would have about 63% of the engine's life remaining so I would (for the purposes of this analysis) consider the engine(s) to be at "midtime". Of course you could run the analysis any way you wish but let's now look at the results.

This is a hypothetical example but if you were looking to buy an aircraft and the asking price was $1.5M, you selected midtime engine(s), upgraded avionics and everything else was unknown, then it may display a red indication and show that AT THAT PRICE/VALUE, X% of the market is priced below this level (the percentile) and you can see the Expected Selling Range of prices GIVEN THOSE PARAMETERS. If the user changes the parameters (for example, "no damage" versus "don't know" or "yes") then the range would change and possibly the risk level AT THAT PRICE/VALUE point. If additional assistance is needed beyond this level of analysis, then the site allows the user to find a qualified aircraft appraiser who can go deeper.

As stated, the utility and usefulness of the Instant Aircraft Analyzer depends on the objectives and expectations of the user. For some, knowing that an aircraft is over-valued or excessively valued given a particular set of parameters is extremely helpful - given the price of the subscription. For others who are looking or thinking that any software can provide a specific number representing the current market value of an aircraft, then they will be disappointed.

Good luck.

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 21 May 2023, 08:05 
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Joined: 10/21/16
Posts: 513
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
One last thing . . .

There has been quite a bit of interest in the Instant Aircraft Analyzer and I put together a brief video on how to use the software and what the graphs are telling you. It should be a good overview. Enjoy!

https://appraiseaplane.info/wp/2023/05/ ... nalyzer-2/

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 28 May 2023, 10:44 
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Mike, I agree that the tool isn't ready for prime time yet. Take a look at the Meridian values. Also, I can't for the life of me figure out how to access the tool again. When I subscribed it brought me to the tool. Since then every link just brings me back to a solicitation for subscribing.


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 28 May 2023, 11:47 
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
Username Protected wrote:
Mike, I agree that the tool isn't ready for prime time yet. Take a look at the Meridian values. Also, I can't for the life of me figure out how to access the tool again. When I subscribed it brought me to the tool. Since then every link just brings me back to a solicitation for subscribing.


Before condemning the whole software tool and related development effort, it is important to focus on the issues independently. If there is truly as system problem, there is a trouble ticketing system that should be used versus a public forum. The trouble ticket system helps track problems and solutions which will help both parties.

According to the event log for your account, your account was terminated today - which is why the system is asking for you to re-subscribe. The other issue that can occur is with the level of the subscription. At the basic level, the user is limited to X number of runs per month (I don't recall the specific number but it is suitable for most buyers who have a casual interest). If this number is exceeded, the user will be limited and in that event, you may need to upgrade the level of subscription. Let me know how you wish to proceed here with a PM.

Insofar as the Meridian values . . . here again the trouble ticket system with a screenshot would be a better avenue and this issue cannot be adequately addressed here without additional details. With the information provided, it is not clear what parameters were presented to the software and EACH CHANGE of parameters can easily provide a very different analysis based on what we see in the marketplace - for those aircraft with those sets of parameters. So, the numbers may not be off at all. It is just tough to tell with these details.

The other issue involves the source data that is being used for comparison. If it is a publication (as an example) then understand that there are a number of limitations and issues there which will not agree with the ongoing data analysis the PAAO performs. If it is a limited set of asking prices from broker/dealer X then I have no doubt there will be a disagreement in valuations.

Good luck.

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 29 May 2023, 03:43 
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So, if a user cancels their subscription they lose access immediately including the unused period they've paid for? I subscribed on the 21st, was charged on the 26th, and cancelled on the 28th to avoid recurring charges. So, you're telling me I only get 2 days for my $15? That's not how most subscription services work. Typically access isn't denied until the end of the paid period unless a pro-rated refund is issued.

Rather than discount my observation, just look into the Meridian data for your own benefit. It's not like there are a lot of user entered parameters that could cause wide variations in values, and it's not a matter of a thinly traded market where price discovery is difficult. I think we can all agree a typical 2006 Meridian isn't currently worth the $600k-700k range of values the tool indicates. I'm just suggesting you look into that particular aircraft type, or don't and continue to believe it is generating meaningful data, but I think your users will disagree. I didn't check any other types.

I'm not trying to bash what may be a very valuable tool. Nor am I posting publicly to intentionally cause harm. Just giving a truthful review for your benefit AND the benefit of other Beechtalk users. I'm sure you are a competent appraiser and this tool may have potential. But as of now, there are bugs that need to be worked out.


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 Post subject: Re: Instant Aircraft Analyzer
PostPosted: 29 May 2023, 10:02 
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Joined: 10/21/16
Posts: 513
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Company: Plane Data, Inc.
Location: North Carolina
Aircraft: Cessna Cardinal RG
Username Protected wrote:
So, if a user cancels their subscription they lose access immediately including the unused period they've paid for? I subscribed on the 21st, was charged on the 26th, and cancelled on the 28th to avoid recurring charges. So, you're telling me I only get 2 days for my $15? That's not how most subscription services work. Typically access isn't denied until the end of the paid period unless a pro-rated refund is issued.

Rather than discount my observation, just look into the Meridian data for your own benefit. It's not like there are a lot of user entered parameters that could cause wide variations in values, and it's not a matter of a thinly traded market where price discovery is difficult. I think we can all agree a typical 2006 Meridian isn't currently worth the $600k-700k range of values the tool indicates. I'm just suggesting you look into that particular aircraft type, or don't and continue to believe it is generating meaningful data, but I think your users will disagree. I didn't check any other types.

I'm not trying to bash what may be a very valuable tool. Nor am I posting publicly to intentionally cause harm. Just giving a truthful review for your benefit AND the benefit of other Beechtalk users. I'm sure you are a competent appraiser and this tool may have potential. But as of now, there are bugs that need to be worked out.


Let me push back on a couple of points because what is described are not "bugs". Let me take these points in reverse order.

If I look at the current information both the Instant Aircraft Analyzer provides and the data used by our appraisers for a 2006 Meridian, the midpoints in both sets of data is much higher than $600K - $700K. Configuring the Instant Aircraft Analyzer with that year model, no damage history, midtime engines, all logs, etc. the $700K value/price is at the 4 percentile level or there about so I am not sure what specific parameters were used in the analysis referenced. If there is a specific configuration or question in mind, PLEASE PM me and I will be happy to try and figure this issue out. However without so much as a year model identified in the original post, the initial claim has to be viewed with a degree skepticism - especially in a public forum versus a PM with a question about a specific analysis or observation. It is unclear what the real intentions would be but they do not appear positive in nature.

Insofar as the subscription, I have to disagree that "most" subscription services provide a pro-rated refund. There may be some options if someone reaches out to customer service but those are exceptional - especially after the trial period has ended. As a paid subscriber, there are a number of options open if the desire is to terminate access to the software before the renewal date. These could have been exercised if some effort was made to address them such as a trouble ticket or even PMing me directly. However, the system level default action taken by the payment processor once a subscriber chooses to cancel after the trial period is to terminate access immediately - period. No refunds and no termination at the end of the paid period. Full termination is immediate and any options as a subscriber are also terminated. In this case I have initiated a full refund and you should see that in a few days. Let me know if you do not. Efforts are also underway to provide subscribers with more control over their account and subscribers should see this soon.

Again, neither of these issues are "bugs" to the design of the software and related analysis. Both could have been more completely addressed through the trouble ticket system. If they remained unresolved, then bring them to a public forum versus the reverse. I would encourage that action for any subscriber.

Good luck.

_________________
Mike Simmons
PSCA
President
Plane Data, Inc.
800-895-1382
www.planedata.com


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